Rolls-Royce has signed a long-term service agreement with offshore vessel owner Siem Offshore for the maintenance of its deck machinery installations aboard 12 anchor handling vessels. Rolls-Royce said on Wednesday that the five-year maintenance inspection program (MIP) was the formalization of a cooperation agreement between the two companies. Read more
Brazil: No biogenic formation in our block, Total says
French oil major Total has said it found no evidence of “biogenic formation” in the Foz do Amazonas basin off Brazil, following reports that the Greenpeace has found “rhodolith beds” near the same area where Total plans to drill for oil. In a statement in mid-April, Greenpeace said that team of scientists onboard the Greenpeace Esperanza ship... Continue Reading →
Brazil anti-corruption judge says he will not run for president
Joaquim Barbosa, a former chief justice on Brazil’s Supreme Court with anti-corruption credentials, said on Tuesday he would not run for the presidency in October, despite a growing clamor for his candidacy. Read more
Thermoelectric companies sign rental contracts at Açu Port
Prumo Logística reported that the subsidiary Porto do Açu Operações (Açu Port Manager, in the North Coast of Rio de Janeiro) signed a contract with another subsidiary, Gás Natural Açu, to lease an area of 378 thousand m2 in Terminal 2 of marine complex for 23 years, renewable for more than 25 years, aiming at... Continue Reading →
First E & P Petrobras divestment took 350 days to complete
The sale of the Azulão field from Petrobras to Eneva, concluded on April 30th, took almost a year to complete, more precisely 350 days, a survey conducted by Brasil Energia Petróleo. The project was the first E & P asset offered for sale under the rules TCU system. Another 21 projects are in different stages.... Continue Reading →
Ecopetrol prepares to participate in the 4th round in June
Ecopetrol is preparing to participate in the 4th Production Sharing Round in June, the company's Vice President of Exploration Max Torres said during a conference with analysts. The company even registered in the second and third rounds of the pre-salt in 2017, but did not submit offers. "[Brazil] is a very hot market at the... Continue Reading →
Petrobras approves payment of Interest on Capital to shareholders
Rio de Janeiro, May 8, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved in a meeting held yesterday the distribution of early remuneration to shareholders as Interest on Capital (IOC), as defined in art. 9, sole paragraph of its bylaws and in article 9 of Law 9.249/95. The value... Continue Reading →
PETROBRAS FIRST QUARTER 2018 CONSOLIDATED RESULTS
Rio de Janeiro, May 08, 2018 - Consolidated interim financial information audited by independent auditors in accordance with International Financial Reporting Standards (IFRS). Key Highlights Net Income R$ 6.961 billion Production 2,680 thousand boed EBITDA R$ 25,669 million Result Petrobras reported a net income of R $ 6,961 million in 1Q-2018, 56% higher than the... Continue Reading →
Pimco Buys New Bonds Issued by Andrade Gutierrez
Pacific Investment Management Co. is buying a new $540 million bond from Andrade Gutierrez SA, giving one of Brazil’s biggest construction companies enough money to meet a debt payment missed last week, said one person familiar to the matter. Read more
‘Privatization’ Is No Longer a Dirty Word in Brazil, Even in an Election Year
In one of the most iconic photo moments of his presidency, Luiz Inácio Lula da Silva waves a pair of hands slicked with crude oil from a petroleum platform operated by Brazil’s government-run oil company, Petrobras. The country’s state-heavy economy was roaring, buoyed by the global commodity boom, prompting Lula to later declare, “God is Brazilian.”... Continue Reading →
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