Brought to you by Quest Offshore & Southern Cone Consultants
Marine seismic contractor Polarcus saw its second-quarter revenue fall due to contract cancellations and lower dayrates caused by the slump in oil prices and the oil companies' exploration budget cuts that followed. During the quarter, the company saw its vessel utilization drop to 50%, compared to 72% in Q2 2019. Backlog was approximately USD 141... Continue Reading →
Baker Hughes Co posted its second consecutive quarterly loss on Wednesday and said it would rein in costs as it prepares for a longer period of volatility in oil prices that has crushed demand for its oilfield services. Oil producers halted drilling new wells and drastically cut their budgets following a collapse in crude oil... Continue Reading →
Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. In one of the oil industry's biggest alleged scandals, Italian prosecutors allege Eni and Shell acquired a... Continue Reading →
July 21st, 2020 In a challenging context, we presented solid operational performance in 2Q20. The preventive measures against COVID-19 demanded a reduction in the number of shifts in our operations, in which we have been working with 50% of the regular staff. In view of this new scenario for the oil and gas industry, we... Continue Reading →
July 21, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release dated 06/22/2020, informs that it has filed a motion to vacate a partial arbitration award rendered in an arbitration filed by Petros and Previ before the Market Arbitration Chamber (CAM) of B3. As a result of the rules of the CAM, the... Continue Reading →
Jul 21, 2020 Brazilian oil production resumed growth in June, after four months of stagnation. According to new data from the National Petroleum Agency (ANP), Brazil extracted 3.01 million barrels of oil per day, an increase of almost 9% compared to the previous month. This was the first time that national production returned to the... Continue Reading →
Jul 21, 2020 Since December, Petrobrás had been receiving bid proposals for the chartering of drill rigs for water depths up to 700 meters. But, after a few postponements, the company decided to cancel the tender, leaving a the companies that worked in the bids and invested funds to prepare the proposals frustrated and at... Continue Reading →
Colombia's state-run oil firm Ecopetrol has hired Doris Inc. for the provision of Consulting Engineering Services. The scope includes including studies, engineering, and support during the execution of offshore oil and gas developments. The contract is for a five-year period. Doris did not provide the financial details on the deal. Continue reading
July 21, 2020 Petróleo Brasileiro S.A. - Petrobras informs that it has obtained a favorable and final decision from the Federal Regional Court of the 2nd Region in process that seeks to recover the PIS and COFINS contributions overpaid due to the inclusion of VAT tax (ICMS) in the calculation basis from October 2001 onwards.... Continue Reading →
July 20, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release on March 13, 2020, informs that it has entered into a share purchase and sale agreement, regarding its remaining 10% interest in Transportadora Associada de Gás S.A. (TAG), with the group formed by ENGIE and Caisse de dépôt et placement du... Continue Reading →
