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While Modec finalizes the construction works of the FPSO Carioca, Petrobras is advancing in licensing the project. The state-owned company has requested Ibama in the last few days for the operating license of the platform vessel, which it will produce in the Sépia field, in the Santos basin. The FPSO will be installed approximately 250... Continue Reading →
The oil majors’ retreat from frontier plays limits future drillship demand with deepwater, investment looks limited to Brazil and Guyana, writes Gregory Brown, Maritime Strategies International. The future of offshore deepwater investment is under the microscope. In a world where oil demand may have peaked and Opec and its allies have at least 7 Mn... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the pricing of an offering of additional notes of its 5.600% Global Notes due 2031 (CUSIP No. 71647NBH1/ ISIN No. US71647NBH17) (the “Notes”) to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”). The Notes will be unsecured obligations of PGF and will be... Continue Reading →
(Reuters) - Global oil stocks which rose during the height of the pandemic are being steadily reduced, the International Energy Agency (IEA) said on Wednesday, but a second wave is slowing demand and will complicate efforts by producers to balance the market. OPEC+ producers - OPEC members and others including Russia - plan to boost... Continue Reading →
Dutch marine services and towage company KOTUG said it has been awarded a long-term contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) to provide offshore terminal towage support for operations in Guyana. KOTUG, through local entity KOTUG Guyana Inc., will employ a high-spec 130 tonnes bollard pull, DP-2 azimuth anchor-handling tug SD... Continue Reading →
The Ministry of Mines and Energy (MME) should launch, in November, the Incentive Program for Offshore Mature Fields following REATE’s initiative for onshore fields. The program, which focuses on extending the useful life of this type of asset and postponing its decommissioning, is being conducted directly by the Secretary of Petroleum, Natural Gas and Biofuels,... Continue Reading →
A strange thing happened last Wednesday: Chevron’s market cap briefly exceeded Exxon’s cap, at $142 billion versus $141.6 billion. It was particularly remarkable given that Exxon’s market cap was just under $300 billion at the start of the year. Now, one analyst thinks it is time for drastic action. Paul Sankey of Sankey Research argued in a note last week... Continue Reading →
Cade approved, without restrictions, the acquisition by State Power Investment Corporation of China (SPIC) of a 33% stake in the GNA I and GNA II thermoelectric plants, with 3 GW of capacity and integrated into the LNG terminal in Porto do Açu (RJ) ). - Agreement closed through the subsidiary SPIC Brasil foresees entry to... Continue Reading →
The ANP signed a Memorandum of Cooperation with the Petroleum Safety Authority of the Kingdom of Norway (PSA-Norway). The agreement formalizes the Agency's cooperation with the Norwegian oil sector regulator, intensifying the sharing of experiences on supervisory practices that guarantee safe activities for the exploration and development of offshore oil resources. The partnership is based... Continue Reading →
An analysis by Norwegian energy intelligence firm Rystad Energy shows that Chinese yards will outcompete Asian rivals on costs in an expected rebound in offshore oil and gas spending from 2021. Offshore investments are expected to rebound from 2021 and oil and gas operators will be looking for yards to build new facilities, with 40... Continue Reading →
