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April 17, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on 02/03/2020, announces that it has started the binding phase referring to the sale of its entire stake at the Papa-terra field, located in deepwater in the Campos Basin. Qualified parties for this phase will receive a process letter with... Continue Reading →
April 17, 2020 Petróleo Brasileiro S.A. – Petrobras announces that the rating agency S&P Global Ratings (S&P) affirmed the ”BB-“ global scale rating for Petrobras, with a stable outlook. The stand-alone credit profile remained at "bb", one notch above the sovereign. S&P highlighted that the company's liquidity position remains strong despite forecasted lower operating cash... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro has tapped Symone Araujo to lead the country’s oil regulator ANP, according to Friday’s official gazette. Araujo is currently director for natural gas at the Ministry of Mines and Energy. Her nomination still needs the Senate’s approval, and if confirmed she will replace Aurelio Amaral, whose mandate ended last... Continue Reading →
Seabed Geosolutions is feeling the impact of the COVID-19 pandemic on its activity. A significant ongoing project in the Middle East has been cancelled and another project that was scheduled to start imminently in Brazil has been postponed. Continue reading
Oilfield services provider Schlumberger took an $8.5 billion charge in the first quarter of the year rocked by the low oil price environment and the coronavirus pandemic. Schlumberger said in its report on Friday that its worldwide revenue in 1Q 2020 was $7.5 billion, a 9 per cent decrease sequentially and 5 per cent decrease... Continue Reading →
Apr 16, 2020 The National Petroleum Agency (ANP) indicates that the number of cases of Covid-19 in workers in the oil and gas sector in Brazil has risen to 162. As of yesterday, there were 132. Currently, there are still another 1,020 cases being investigated, awaiting test results. Fortunately, so far, there have been no... Continue Reading →
Apr 17, 2020 Petrobras temporarily paralyzed part of the Gaslub Itaboraí project (formerly Comperj), which includes the construction of the Rota 3 gas pipeline and the natural gas processing unit (UPGN). The measure complies with the letter from the Municipal Health Secretariat of Itaboraí (RJ), issued on March 23, which requests the interruption of 70%... Continue Reading →
Emerson (NYSE: EMR) announced it has signed a multi-year agreement with YPF S.A., a major Argentinian energy company, for Emerson’s exploration and production (E&P) software for seismic data interpretation and visualization. This comprehensive software portfolio gives YPF a holistic subsurface view of its reservoirs and exploration areas, leading to a collaborative and integrated seismic interpretation... Continue Reading →
Royal Dutch Shell on Thursday deepened its ambition to battle climate change, setting the oil and gas sector's broadest plan to reduce greenhouse gas emissions to net-zero by 2050. The new climate goals put the Anglo-Dutch company - at least on paper - ahead of the most progressive of its rivals, including BP and Italy's... Continue Reading →
Following a historic OPEC+ deal to reduce global oil output in an effort to save the oil industry, Mexico came out as an unlikely winner since it was able to negotiate a production cut of only 100,000 barrels per day. Rystad Energy estimates that this will in effect be at a 50,000 bpd reduction at most. The... Continue Reading →
