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29 January 2020 Petróleo Brasileiro S.A. – Petrobras, further to the press release dated September 19, 2018, announces that the District Court of Rotterdam (the Court) today considered some issues and asked additional questions to the parties regarding the collective action filed by Stichting Petrobras Compensation Foundation (the Foundation) in the Netherlands against Petrobras and... Continue Reading →
January 29, 2020 Petróleo Brasileiro S.A. - Petrobras discloses that its proved oil, condensate and natural gas reserves according to SEC (US Securities and Exchange Commission) regulation were estimated at 9.590 billion barrels of oil equivalent (boe), as of December 31, 2019, as displayed in Table 1. Continue reading
The long awaited first ever offshore licensing by Senegal has finally been launched as the West Africa country inches closer to achieving its national medium- and long-term hydrocarbon sector investment plan and drive to transform the upstream resource into a source of clean electricity generation. The launch of the licensing round this week in Dakar, Senegal by... Continue Reading →
BW Offshore has slightly reduced the valuation of its planned oil and gas spin-off, the Oslo-listed company said as it presented details for the initial public offering on Wednesday. The valuation of BW Energy was shaved to a range of between $700 million and $750 million, from the $700 million to $800 million proposed in... Continue Reading →
U.S. oil and gas company Hess Corporation sank deeper into the red in the last quarter of 2019 despite higher production levels when compared to the prior-year quarter. Hess on Wednesday reported a net loss of $222 million in 4Q 2019 compared with the net loss of $4 million in the fourth quarter of 2018.... Continue Reading →
January 29, 2020 The federal government made a change to the re-bidding of the surplus of the Transfer of Rights assignment of Sépia and Atapu, in the Santos Basin pre-salt, and Pre-Salt Petroleum (PPSA) will be responsible for negotiating and defining with Petrobras the value of the indemnity that will be charged to possible partners... Continue Reading →
Jan 29, 2020 A new chapter in the history of Petrobras' problems with flexible risers. A line connected to the FPSO Cidade de Angra dos Reis, located in the Lula field, broke on the 21st. According to Petrobrás, there was no damage to the environment and it was also not necessary to stop production. The... Continue Reading →
Jan 29, 2020 Petrobras hired seven investment banks to sell a stake in BR Distribuidora, three sources with knowledge of the matter told Reuters. The offer will be coordinated by the investment banking units of Morgan Stanley, JP Morgan Chase & Co, Goldman Sachs Group, Itaú Unibanco Holding, XP, Bank of America and Citgroup, the... Continue Reading →
Jan 28, 2020 But they were less than a third of the volume of oil consumed in 2019! The world still celebrates the modest increase in discoveries of oil resources in 2019, after a period of several years of discoveries far below those of the years until 2015 (Rystad Energy, 2020). Still, even in... Continue Reading →
International Oil Company (IOC) has hired Frontera to undertake geohazard survey offshore Mexico. Mobilization for the project is underway and offshore work is expected begin and complete during March 2020. Frontera is an established offshore services contractor in Mexico since 2001. To remind, in August 2019, Frontera entered into an exclusive collaboration with DOF Subsea for the... Continue Reading →
