The World Bank’s board of executive directors has approved a $20 million credit from the International Development Association (IDA) to strengthen institutions, laws, and regulations to promote good governance and a prudent management of Guyana’s oil and gas sector. Announcing the credit last week, the World Bank noted Guyana’s position among the 25 largest oil reserve-holders... Continue Reading →

10/04/2019 A new survey by KPMG consultancy indicates that the state of Rio de Janeiro had 75 mergers and acquisitions in the year 2018, a considerable increase compared to the 62 operations registered in the previous year. The main highlight was the oil and gas sector, which had the largest number of transactions of type... Continue Reading →

April 9, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announced today the final results of its previously announced debt tender offers (the “Waterfall Offers”). As of 11:59 p.m., New York City time, on April 8, 2019 (the “Expiration Date”) holders of US$1,867,021,000 and €371,098,000 principal amount of the outstanding notes of the... Continue Reading →

Rio de Janeiro, April 09, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the press realease disclosed on 04/05/2019, regarding the competitive sale process of 100% of Liquigás Distribuidora SA, informs that the new Teaser, which contains the main information about the opportunity, as well as wider eligibility criteria for the selection of... Continue Reading →

Forum Subsea Technologies has secured orders from DOF Subsea to supply three of its Ultra Compact Perry XLX-C work-class remotely operated vehicles (ROVs). DOF Subsea will deploy the vehicles onto three of its ROV support vessels for recently awarded projects in Brazil. Continue reading

Oilfield services provider TechnipFMC has been awarded a significant subsea contract for Lapa field located offshore Brazil.  The contract was awarded by Total, on behalf of the Lapa field consortium comprised of Total (35%), Shell Brasil Petróleo Ltda. (30%), Repsol Sinopec Brasil S.A. (25%) and Petrobras (10%). The value of the contract for TechnipFMC is... Continue Reading →

Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland. Switzerland has so far returned roughly 365 million Swiss francs ($365.6 million) to Brazil related to Petrobras and construction firm Odebrecht,... Continue Reading →

April 8, 2019 Ibama is indicating the exclusion of exploratory blocks JA-M-26, M-43, JA, JA-M-45, all in the Jacuípe basin, in 16th round of bidding, scheduled for 10 October. The indication counts for the areas offered in the 6th round of the pre-salt and the 16th round of concession areas. The environmental agency argued that... Continue Reading →