Petróleo Brasileiro S.A. – Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit's physical progress. It was also agreed to prepare a new Development Plan... Continue Reading →
Petrobras approves Guide to Ethical Conduct for suppliers
Petróleo Brasileiro S.A. – Petrobras approved yesterday the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have signed contracts, agreements... Continue Reading →
Petrobras on news on Gaspetro
Petróleo Brasileiro S.A. – Petrobras informs, regarding the news published in the media, that it received yesterday binding proposals for the sale of its 51% stake in Gaspetro S.A. (Gaspetro) and the proposal of Compass Gás e Energia S.A. was one of those received. The receipt of binding proposals is one of the stages of... Continue Reading →
FSO Nabarima Is ‘Upright’ but Crude Transfer Could Be Risky
(Reuters) A Venezuelan floating oil facility that had been listing in recent weeks is upright and shows no sign of sinking, but plans to offload crude from the vessel posed some risks, the energy minister of neighboring Trinidad and Tobago said on Thursday. A team of experts from Trinidad inspected the Nabarima facility on Tuesday... Continue Reading →
Mexico: Energy Minister Open to Pemex Farmouts
Mexican Energy Minister Rocio Nahle said on Monday so called farmouts, or joint ventures, could be done with state oil firm Petroleos Mexicanos if feasible projects are put forward, marking a potential shift from her previous skepticism. Nahle, one of the staunchest defenders of President Andres Manuel Lopez Obrador's drive for a more statist energy... Continue Reading →
Cosan makes offer to buy control of Gaspetro
Cosan presented a proposal to buy the 51% stake in Gaspetro, a Petrobras subsidiary, which operates in the natural gas distribution market. The offer will be made through Compass, a company created by Cosan to concentrate investments in the gas and power generation market. Gaspetro holds stakes in 19 gas distributors, which exclusively operate local... Continue Reading →
Shearwater Secures Five-month Extension for Offshore Survey in Brazil
Seismic survey services company Shearwater GeoServices has won a five-month contract extension for CGG’s Brazil Nebula multi-client survey. This extension-period starts in the late fourth quarter of 2020 and will be conducted by the Oceanic Sirius vessel. To remind, Shearwater had first won the contract with CGG for the Nebula project in July 2020. In a separate... Continue Reading →
BP swings back to profit, epidemic uncertainty weighs
(Reuters) - BP BP.L swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and continued to weigh on fuel demand and refining profits. The London-based company said that while fuel demand in Asia, particularly in China, was recovering, global consumption remained weak so far in... Continue Reading →
Pre-salt buoys Petrobras
Booming crude production in the region is helping to offset financial shock caused by Covid-19 Production growth has slowed to a crawl for much of the global oil sector this year. Subdued commodity prices and persistent market volatility have incentivised producers to slash capex and focus on the profitability of existing output until better economic... Continue Reading →
New Karoon CEO to take over in late November
Australian oil and gas player Karoon Energy has appointed Dr Julian Fowles its as Chief Executive Officer and Managing Director. Karoon announced the resignation of its CEO and MD Robert Hosking at the end of July 2020 with effect from Karoon’s annual general meeting. Karoon said on Monday that Dr Fowles will start with Karoon immediately... Continue Reading →
