Brought to you by Quest Offshore & Southern Cone Consultants
United States Ambassador to Argentina Edward Prado welcomed PESA to his residence in Buenos Aires to kick off the creation of the PESA Latin America Regional District, Argentina Chapter on Tuesday, September 24. After a welcome and overview of the oil and gas industry dynamics in Argentina by Ambassador Prado, PESA President Leslie Beyer introduced... Continue Reading →
McDermott International is seeking a bridge loan to help it cover a working-capital deficit of about $1.7 billion until it can sell an asset such as its Lummus Technology unit, according to a person with knowledge of the matter. The Houston-based company, which provides construction services to oil and gas firms, is working with advisers... Continue Reading →
Seven months into the presidency of Roberto Campos Neto, Brazil’s central bank has implemented a quiet revolution in its monetary policy, with the former trader showing a willingness to tolerate a weaker currency. In selling international reserves for the first time in 10 years to meet demand for dollars, while slashing interest rates to new... Continue Reading →
September 25, 2019 Company believes that regulatory changes in the gas industry in the country are "on the right track". ExxonMobil is "optimistic" about the opening of the Brazilian natural gas market, said Vania Carvalho, the company's commercial director in Brazil. According to her, regulatory changes in the gas industry are "on the right track",... Continue Reading →
An improvement in Brazil’s sovereign credit rating hinges more on stronger economic growth than lower interest rates, ratings agency Moody’s said on Tuesday, urging economic reform and the shoring up of public finances. Brazil’s central bank has slashed interest rates by 100 basis points to a new low of 5.50% and seems set to cut... Continue Reading →
Sept 24, 2019 The maritime support fleet in Brazilian waters ended the month of August with 364 vessels, of which 326 were Brazilian-flagged and 38 were foreign-flagged. The number remained stable compared to July, when the number of foreign boats was the same as in August and the number of domestic support vessels was 366... Continue Reading →
Sept 24, 2019 BP Energy has until November to provide Ibama with clarifications on its planned exploratory activities at the Foz do Amazonas Basin. The environmental agency - which analyzes the license request to drill in the region - requests the review of accidental scenarios and the presentation of contracted vessels and monitoring system within... Continue Reading →
Sept 24, 2019 Petrobras will auction again, this year, the drillship Vitória 10,000. A committee of oil and property supply professionals has been working since last week to define the new market-going strategy, with a minimum price below the $ 47.5 million asked in the first attempt. The rig went up for auction on September... Continue Reading →
Sept 24, 2019 Despite the potential for natural gas production, Brazil has been re-injecting more fuel into the wells than it imports from Bolivia since 2018. Without limitation to practice, one third of the extracted fuel is returned to the wells to expand oil production or due to lack of infrastructure for delivery to the... Continue Reading →
September 23, 2019 Shell received from Ibama the license to drill up to three exploratory wells in the Alto Cabo Frio Oeste block, in the Santos Basin pre-salt. The license provides for drilling the wells by the Brava Star rig and is valid for four years. Alto de Cabo Frio Oeste was awarded to Shell... Continue Reading →
