Brought to you by Quest Offshore & Southern Cone Consultants
August 29, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 07/11/2019, informs the beginning of the binding phase related to the sale of its entire 34% stake in Compañia MEGA S.A. (“MEGA”), through its wholly-owned subsidiary Petrobras International Braspetro B.V. (“PIB BV”). Parties qualified for this phase will receive a process... Continue Reading →
Brazilian engineering and construction firm Delp will deliver subsea torpedo piles for the anchoring system designed to keep Petrobras’ Mero 1 FPSO in place. The Mero 1 FPSO will be used for oil production at Mero field, in the Libra block offshore Brazil. The Mero field is located around 180 kilometers off the Rio de... Continue Reading →
The Liza Destiny FPSO has reached Guyanese waters 42 days after it set sail from a shipyard in Singapore. The news of the FPSO arriving in Guyana has been confirmed by Hess Corp, a partner in the ExxonMobil operated Stabroek block, where the Liza Destiny will now be moored. Able to produce up to 120,000... Continue Reading →
Brazil’s economy rebounded strongly in the second quarter after having shrunk in the first, official figures showed on Thursday, indicating Latin America’s largest economy comfortably avoided falling back into recession. The 0.4% growth in the April-June period will be a relief to President Jair Bolsonaro’s government, which was in large part elected to revive an... Continue Reading →
Aug 28, 2019 In addition to global oil giants such as Exxon, Shell, Total and Saudi Aramco, banks, investment funds and trading companies, also move the pieces in the game for the purchase of eight refineries that Petrobras has placed for sale. According to sources, nearly two dozen companies signed the confidentiality agreement with the... Continue Reading →
Oslo-listed Solstad Offshore has recognized loss of close to NOK 343 million ($38 million) for the second quarter of 2019, compared to loss of NOK 788 million ($87 million) from the prior-year comparable period. The Norwegian vessel owner’s operating revenue for the second quarter 2019 increased slightly to NOK 1.37 billion when compared to NOK... Continue Reading →
French oil giant Total has hired a shuttle tanker from Knutsen NYK Offshore Tankers (KNOT) for the use in Brazil. KNOT said on Wednesday that the long-term contract with Total had been signed in August. The contract is for 15 years for a shuttle tanker to be built in China by COSCO Zhousan Shipyard. The... Continue Reading →
Japanese FPSO operator MODEC is working to clean up and disperse the remaining oil following an oil spill on the Petrobras-operated Espadarte field offshore Brazil last Friday. Operated by Modec and serving Petrobras since 2007, the FPSO Cidade do Rio de Janeiro ended its production cycle in July 2018 and has been in the process... Continue Reading →
CNOOC Limited has increased its oil and gas production by over 2 percent during the first half of the year and boosted its profit for the period as oil and gas sales rose by 4.4 percent. In its report for the six months ended June 30, 2019, released on Thursday, CNOOC said it had increased... Continue Reading →
The decision by global energy service firm TechnipFMC to split into two separate listed companies has been described as a “bold move” by research firm Wood Mackenzie (Woodmac). Commercial intelligence group Woodmac said the news that the London-headquartered firm is to split shows is intent on “playing the long game” and positioning itself for a... Continue Reading →
