Rio de Janeiro, March 20, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it has decided to mothball its fertilizer plants located in Sergipe ("Fafen-SE") and Bahia ("Fafen-BA"). The decision to mothball these units is aligned with the company’s strategic position to fully withdraw from fertilizer production activities, pursuant to its 2018-2022 Business and... Continue Reading →

The need to rebuild and revitalize the supply chain of goods and services for the oil sector in Brazil dominated the debates of an event promoted by IBP. The president of BP in Brazil, Adriano Bastos, stressed the importance of rebuilding the supply chain in Brazil. According to him, with the oil crisis and the... Continue Reading →

Brazil could have up to 40 deepwater rigs by 2021; manufacturers look to Latin America with optimism.   Brazil may have up to 40 deepwater rigs working in offshore concessions in 2021. The forecast is from consultancy Bassoe Offshore, which provides that Petrobras will demand at least 30 units at the beginning of the next... Continue Reading →

A battle for big data is brewing in the oil patch. The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never before realized could be valuable. But their exploration customers are essentially saying hands off to anything coming... Continue Reading →

Dutch FPSO specialist SBM Offshore has awarded TMC Compressors of the Seas (TMC) a contract to supply the marine compressed air system for the FPSO destined for the Liza project off Guyana. TMC said on Monday that the contract would entail a large compressed air system consisting of 3 x 400 kW frequency-controlled instrument air... Continue Reading →

Petrobras intends to begin seismic activities in offshore areas from the 14th Round of bidding in 2017 this year. According to E & P director Solange Guedes, this was a commitment with the partners in the blocks. "One of the very positive side effects of these strategic partnerships are alignments of interest. We are committed... Continue Reading →

RIO DE JANEIRO, BRAZIL – March 15, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the commencement of offers by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) to purchase for cash PGF’s notes of the series set forth in the table below for an aggregate purchase price, excluding accrued and unpaid... Continue Reading →

Oil majors aren’t famed for their pranks, but Statoil ASA had analysts checking it wasn’t April Fool’s Day when it announced a new name that turned out to have been acquired from an Oslo veterinary practice specializing in horses. “We checked the calendar,” SpareBank 1 Markets analyst Teodor Sveen Nilsen said in a note to clients. “It’s... Continue Reading →

Subsea engineering and construction company Subsea 7 has been awarded a sizeable contract for a conventional project, in shallow water.  Subsea 7 defines a sizeable contract as being between $50 million and $150 million. The company said on Thursday that the offshore execution of the awarded conventional project, in shallow water, is planned for 2019. However,... Continue Reading →