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May 15, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on May 4, 2020, announces the beginning of the non-binding phase regarding the sale of its entire 51% stake in Petrobras Gás S.A. (Gaspetro). Qualified parties for the non-biding phase will receive a process letter with detailed instructions on the... Continue Reading →
May 15, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on March 31, 2020, announces the beginning of the non-binding phase regarding the sale of its remaining stake (10%) in Nova Transportadora do Sudeste S.A. (NTS). Qualified parties for the non-biding phase will receive a process letter with detailed instructions... Continue Reading →
Brazil's state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America's largest economy. On a Friday earnings call with analysts, executives credited the company's strong relationship with independent refineries... Continue Reading →
SBM Offshore, the Netherlands-based FPSO supplier, has shared a video of its Liza Unity FPSO Hull going into the dry dock in Singapore. The hull was ordered on speculation in 2017 as the first of what are now five hulls being built as part of SBM Offshore's Fast4Ward standardized-FPSO-hull program. ExxonMobil then came out as... Continue Reading →
Oilfield services companies have collectively lost almost half of their market capitalization, hit by the combination of the coronavirus pandemic and low oil prices, with offshore drillers, in particular, the most affected, Norway's Rystad Energy has said in its analysis released on Friday. "It is widely acknowledged that the oilfield services sector (OFS) is the... Continue Reading →
May 15, 2020 PetroRio recorded positive indicators in the first quarter, such as the increase in production and reserves and an Adjusted EBITDA of R $ 238.9 million - almost 12x above the R $ 20.2 million obtained in the same period of 2019. Net profit in the period was R $ 44.5 million, despite... Continue Reading →
For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nation’s favorite grades. In the last few days a Chinese state-owned refiner bought Brazil’s Lula crude for August arrival at a premium of about 50 cents a barrel to Brent on a delivered basis,... Continue Reading →
May 14, 2020 The crisis in the oil industry forced Enauta to change its plans for the Atlanta field, in the Santos basin. The company announced that it has decided to postpone the taking of prices for chartering the definitive FPSO for the field. In addition, the oil company will also reevaluate the design of... Continue Reading →
MAY 14, 2020 Vallourec Brasil managed to extend its contract with Equinor until March 2024, in addition to expanding the scope of the agreement with the Norwegian oil company. With the new arrangement, the company will supply new products in the line of seamless steel pipes and OCTG fittings used in operations in Brazil. In... Continue Reading →
Italian oil major Eni has chosen Claudio Descalzi to be its chief executive officer (CEO) for the third time. The company has also named its new chairwoman and members of board committees. This will be the third term in the role of Eni CEO for Claudio Descalzi where he will also serve as the general manager of... Continue Reading →
