Brought to you by Quest Offshore & Southern Cone Consultants
January 3, 2020 Petróleo Brasileiro S.A. - Petrobras, informs that, due to the latest events in Middle East, it will carry on with its international market monitoring process. The company points out that, according to its current pricing practices, there is no pre-defined frequency for applying adjustments. The company will continue to monitor the market... Continue Reading →
January 3, 2020 - Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 12/02/2019, announces that it has started the binding phase referring to the sale of its interest in DóRé-Mi and Rabo Branco onshore fields, belonging to the BT-SEAL-13 Concession, located in the SergipeAlagoas Basin. Qualified parties for this phase will... Continue Reading →
Mexico threw troubled state oil company Pemex a lifeline in 2019 to stop $80 billion in bonds held by investors worldwide being labeled junk by credit rating agencies. Now, investors worry that the state itself is a risk for Pemex. Mexico's creditworthiness came under increasing scrutiny in 2019, with two rating agencies flipping their sovereign... Continue Reading →
2 JAN 2020 Brazil's oil exports reached a record in December and are expected to continue to grow in the coming months and years, given a significant advance in production in the pre-salt fields, which could place Brazil among the top five global producers. The country exported 8.72 million tons in December, more than double... Continue Reading →
Repsol is the operator of the Kanuku block with a 37.5% stake. Tullow also holds a 37.5% stake with Total holding the remaining 25%. Tullow Oil said on Thursday that the Carapa-1 exploration well had encountered approximately four meters of net oil pay based on preliminary interpretation, and has extended the prolific Cretaceous oil play... Continue Reading →
Offshore drilling contractor Valaris has received a $200 million payment following the conclusion of arbitration proceedings with Samsung Heavy and has secured new contracts for its rig fleet, adding $100 million to its contract backlog. Valaris said earlier this week that it had received a $200 million cash payment upon the conclusion of previously disclosed... Continue Reading →
Offshore accommodation giants Prosafe and Floatel International have agreed an extension of a share purchase agreement related to a proposed merger of the two companies amid concerns raised by competition authorities in the UK and Norway. According to Prosafe’s statement on Thursday, Prosafe and Floatel International have agreed to extend the long stop date in... Continue Reading →
In surfing, reading the environment and anticipating a wave from a small lump on the horizon can be difficult, but rewarding. This is what SBM Offshore, a Dutch-based FPSO industry specialist which has been building floating production units for 60 years, had done when after a rather dry period for FPSO orders it ordered an... Continue Reading →
Hess rose above the carnage in shale stocks with a more traditional approach to oil exploration – partnering in a massive offshore discovery in a frontier nation. Investors flocked to New York-based Hess in 2019 to participate in Exxon Mobil Corp.’s gigantic Guyana oil find, and avoid cash-burning shale specialists. Hess, which holds a 30%... Continue Reading →
A drive by Mexico’s national oil company to drill new wells at 20 “priority” fields largely using smaller, local service providers is faltering, with the company expected to re-bid some of the work in the year ahead. Industry analysts say they see little evidence a decision by Pemex to use a closed bidding process with... Continue Reading →
