3/28/19/19 Rolls-Royce has signed an agreement with Brazil's Amazonica Energy to develop natural gas fueled barges and tugs to be used in the commercialization of LNG in the North of the country. The partnership will be made through the German MTU subsidiary Rolls-Royce. Investment in vessel development will be $ 2 million. In all, in... Continue Reading →
ANP plans to auction blocks beyond the 200 nautical miles recognized by the UN
March 28, 2019 Based on geological studies that show great potential for oil reserves, the government is considering offering, for the first time, exploratory blocks beyond the limits of 200 nautical miles (about 370 kilometers) established by the United Nations as its continental shelf. Since 2004, Brazil has tried to expand these limits in the... Continue Reading →
Petrobras signed a Revolving Credit Facility of US$ 3.25 billion
Rio de Janeiro, March 28, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that yesterday it signed a Revolving Credit Facility - RCF in the amount of US$ 3.25 billion, maturing in March 2024, which may be extended for up to two years. The contract, signed with 18 banks, allows the company to make withdrawals... Continue Reading →
Offshore Drilling Makes a Comeback After Years in Shale’s Shadow
Offshore is ready for the limelight again. After years in the shadow of the U.S. shale patch, deep-water explorers from Royal Dutch Shell Plc to Talos Energy Inc., along with contractors such as Ensco Plc and TechnipFMC Plc, told investors at the Scotia Howard Weil Energy Conference in New Orleans this week they see a revival coming. That was a stark... Continue Reading →
Sete Brasil receives proposals
March 27, 2019 Expectation is that at least two rig operators present offers for the company in judicial recovery Prices below the minimum value of US $ 554 million, few proponents and many conditions. This is the view of the market in relation to the sale of the four rigs of Sete Brasil - Arpoador,... Continue Reading →
Cade approves PetroRio farm-in in Frade
PetroRio is now awaiting internal and external approvals to complete the acquisition of the share of Frade Japan in the field The Administrative Council for Economic Defense (Cade) has approved the purchase of Chevron's stake by PetroRio in the Frade field in the Campos Basin. As a result, the Brazilian became the operator of the... Continue Reading →
Five more oil companies attend roadshow of the Transfer of Rights surplus auction
March 27, 2019 The Ministry of Mines and Energy receives five more oil companies on Wednesday the 27, to discuss the auction of the Transfer of Rights surplus - it is the continuation of the roadshow in which some rules and the profile of opportunities are being presented. - Participants, in individual meetings, the executives... Continue Reading →
Yinson, Sumitomo eyeing Marlim FPSO JV
Malaysia’s Yinson and Japan’s Sumitomo are planning to establish a joint venture firm for a supply of an FPSO for an offshore field in Brazil. The two companies, which in April 2018 entered into a memorandum of understanding to jointly pursue and collaborate in the leasing and operation of FPSOs, have now entered into a... Continue Reading →
Noble Energy takes over operatorship in Shell’s Colombia offshore blocks
U.S. oil company Noble Energy has acquired a 40 percent share in Shell’s offshore blocks in Colombia. Along with the stake, Noble Energy has also taken over operatorship over the COL-3 and GUA OFF-3 blocks covering around 880,000 hectares. President of the ANH, Luis Miguel Morelli said the Shell/Noble alliance was great news for the... Continue Reading →
South America resists electric vehicles as local fuels remain in favor
Meeting in Brazil this week, auto executives from Toyota to GM talked up traditional fuel sources like ethanol, natural gas and diesel, underlining how South America’s protected auto market is likely to resist a broader global move toward electric vehicles for years to come. Even as automakers revamp their global businesses to focus on electric... Continue Reading →
