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Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a "transfer of rights" (TOR) area off the country's southeastern coast. The government expects to raise 106 billion reais ($25.8 billion) from the auction scheduled for Nov. 6, which is expected... Continue Reading →
Brazil’s offshore oil and gas sector: it’s complicated, challenging and rife with opportunity. Brazil today is seeing offshore activity increase, production is on the rise, and its government has made significant strides to remove obstacles for investment. But not long ago the picture looked very different for one of the planet’s foremost offshore oil and... Continue Reading →
Oct 10, 2019 (Reuters) - A consortium of France’s Total SA, Qatar Petroleum and Petronas won the exploration and production rights for an offshore block near Brazil’s coveted offshore pre-salt region on Thursday, agreeing to pay the government a signing bonus of 4.029 billion reais ($978 million). Total, which has a 40% stake in the... Continue Reading →
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks. Combined, the minimum signing bonuses for the blocks in the so-called 16th post-salt oil bidding round in... Continue Reading →
German oil and gas company Wintershall Dea has farmed down a 30% participating interest in its three Potiguar offshore exploration blocks to the subsidiary of Murphy Oil Corporation in Brazil. The subsidiary, Murphy Brasil Exploração e Produção de Petróleo e Gás Ltda, will become Wintershall Dea’s partner in blocks POT-M-857, POT-M-863, and POT-M-865. Wintershall Dea said... Continue Reading →
October 09, 2019 Petróleo Brasileiro S.A. - Petrobras reports that, following up to the Strategic Partnership signed on 12/18/2017, celebrated today a Memorandum of Understanding (MOU) with Equinor ASA – Equinor, a company based in Oslo (Norway), focused on the joint development of businesses related to the value chain of natural gas produced from the... Continue Reading →
October 9th, 2019 Bob Dudley, chief executive officer at BP, discusses the balance he sees in global oil markets, incoming CEO Bernard Looney, and risks to the business from climate activists. He speaks with Bloomberg's Annmarie Hordern on "Bloomberg Daybreak: Americas." (Source: Bloomberg) Watch video
Oct 9, 2019 (Reuters) - Halliburton said on Wednesday it is cutting another 650 U.S. oilfield services jobs as U.S. and gas producers have slashed spending amid weak prices and investor demands for higher returns. The latest job cuts, on top of an 8% reduction earlier this year, affect workers across Colorado, Wyoming, New Mexico... Continue Reading →
October 9, 2019 Seventeen oil companies, among the industry giants and mid-sized companies, will compete tomorrow for 36 areas, focusing on deep and ultra-deep waters off the Southeast and Northeast coast, in the 16th Round of oil and gas exploration block concessions. The bidding process is the first in a sequence of three major auctions... Continue Reading →
OCT 8, 2019 Facing a difficult moment, Enseada Shipyard, in Bahia, has just filed its request for judicial recovery, covering R$ 2.3 billion in competition claims *. The decision was taken to implement a definitive financial restructuring of the company, which has been facing severe financial problems in recent years. Despite the request for recovery,... Continue Reading →
