Rowan announced last week that it has closed with Petrobras the purchase of the P-59 and P-60 jack ups rigs for US $ 77 million, US $ 38.5 million for each unit. The rigs, which are stacked at the construction site of São Roque do Paraguaçu, will be deployed to the Middle East in the... Continue Reading →
Exxon, BP, Chevron Should Pay for Climate Costs, N.Y. Says
New York joined other municipalities hoping to use the law to hold oil and gas producers responsible for costs related to the environmental effects of their products. The biggest city in the U.S. said Wednesday that it’s suing BP Plc, Chevron Corp., ConocoPhillips, Exxon Mobil Corp., and Royal Dutch Shell Plc claiming they’re the world’s largest industrial contributors to climate change.... Continue Reading →
Corporate Brazil Is Moving Past Its Scandals
Talk of a recovery abounds in corporate Brazil today. Of course, what constitutes improvement for a sector crippled by a pay-for-play scandal and multi-year recession can seem tepid, even a bit curious, to the outside observer. Mostly, investors seem to want closure, and companies are trying their best. Petrobras, the state-controlled oil giant at the... Continue Reading →
Citi Says Trump and War Could Help Drive Oil to $80
This year may be anything but staid for the oil market as Citigroup Inc. predicts wildcards including war, Middle East tensions, Donald Trump and Kim Jong Un driving crude toward $80 a barrel. Read more
C-INNOVATION FORMS SUBSEA PROJECTS GROUP TO OFFER FULLY INTEGRATED SUBSEA SOLUTIONS
HOUSTON -- C-Innovation, LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, has formed a turnkey subsea projects group. Capable of providing a complete solution to its global customer base without sourcing outside the Chouest family worldwide, the new group is based in ECO’s Houston office, at the heart of... Continue Reading →
International offshore rig count goes up in December
The international offshore rig count for the last month of 2017 increased sequentially but dropped on a year-over-year basis, according to monthly rig count reports by Baker Hughes, a GE company. The international offshore rig count for December 2017 was 191, up 8 from the 183 counted in November 2017, and down 19 from the 210 counted... Continue Reading →
Japanese quartet to invest in Modec’s Sepia FPSO
Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL), Marubeni and Mitsui Engineering & Shipbuilding (MES) have agreed to invest in a... Continue Reading →
Better late than never. Petrojarl I FPSO reaches Brazil
Brazilian oil and gas operator QGEP has informed that Petrojarl I FPSO has arrived in Brazil and is now at the Atlanta offshore field, where it will start producing oil, almost two years behind the original schedule. Teekay’s FPSO Petrojarl I entered into Brazilian waters on December 31, 2017, and arrived at the Atlanta Field in... Continue Reading →
ROSNEFT AND TEK INITIATE DRILLING IN THE SOLIMÕES AND RECONCAVO BASINS
Jan, 2018 Rosneft began drilling in the Solimões Basin, in block SOL-T-169. Another company that will also start the drilling campaign is Tek, which kicked off its work in the REC-T-153 block in the Recôncavo Basin. In relation to the Rosneft project, it is the well 1RNB2AM, which began to be drilled in the... Continue Reading →
BW Offshore wins contract extension for FPSO Polvo in Brazil
FPSO operator BW Offshore has been awarded a contract extension for its floating production storage and offloading (FPSO) unit operating offshore Brazil. BW Offshore said on Sunday it has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. Read more
Brazil Energy Insight 