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November 28, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved, in a meeting held yesterday, the Strategic Plan for the 2020-2024 five-year period, in line with the company's strategic positioning, released on September 26, 2019, where we aim to be the best energy company in generating value for the... Continue Reading →
Itaoca Terminal Marítimo SA (Itaoca Offshore) and logistics provider Peterson Offshore Group have formed a partnership and consulting agreement for development of the Itaoca Offshore project. The Itaoca Offshore project will be a private terminal (TUP), located in Itapemirim, in the Espírito Santo (ES) state in southeast Brazil, designed to provide logistical support to the... Continue Reading →
DEA Deutsche Erdoel and Wintershall Holdings completed their merger agreement, creating Wintershall Dea, at the beginning of May 2019. In its first full quarter as one company, Wintershall Dea recorded a production growth, with working interest production increasing by 6% from 578 mboe/d in 3Q 2018 to 613 mboe/d in 3Q 2019. Figures from the third... Continue Reading →
This year, ExxonMobil announced its 11th and 12th oil finds in the small South American country of Guyana. The estimates of recoverable crude in the country now stand at roughly 5 billion barrels. On a per capita basis, this would put Guyana among the top 10 oil producers in the world. Whether the people of Guyana... Continue Reading →
A former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol Group to favor the firm in contracts with the crude producer, court documents show. Carlos Roberto Martins Barbosa said he collected payoffs between 2003 and 2005 to steer fuel oil contracts... Continue Reading →
UK-based oil and gas technology development firm, Deep Casing Tools (DCT), has strengthened its footprint in the South American market with the appointment of a Brazil-based partner, Paschoalin Consultoria em Engenharia. The company will represent Deep Casing Tools within the region and act as a sales agent for its wide range of well lifecycle technologies,... Continue Reading →
PetroRio, a Brazilian independent oil company specialized in revitalizing mature oil fields, has excelled at using cutting edge recovery technology, and applying an efficient program of reservoir management to pinpoint mature fields with potential to increase recovery. Since 2014, PetroRio has been applying its strategy of only investing in mature field that are in production,... Continue Reading →
Companies that help keep Mexico’s faltering oil wells operating are waiting months to get paid and the debts are building up, complicating efforts to revive an industry whose production has plunged by half since 2004. Pemex, facing pressure from the government to slow spending, has delayed some payments to contractors for as long as seven... Continue Reading →
Brazil’s central bank shocked traders by intervening in the foreign exchange market for the first time in three months, selling dollars in two surprise auctions to prop up the real after it slumped to a record low. The currency pared losses after the second intervention and was down 0.3% on the day as of 4... Continue Reading →
The market for modern jack-up rigs has reached 90 percent utilization – for the first time in the cycle – and the demand for jack-up rigs is growing, offshore drilling company Borr Drilling has said. Borr said there is visible demand for more than 50 jack-ups in the next 12 months, most of which is... Continue Reading →
