Norwegian shipping company Siem Offshore has ended negotiations to sell its cable lay business at the same time revealing the identity of the interested party. The shipping company revealed it was in negotiations with an unnamed potential buyer for its cable lay business Siem Offshore Contractors GmbH earlier in November. However, these talks have now been terminated,... Continue Reading →
SBM Offshore to pay $238M as U.S. subsidiary pleads guilty for bribery
SBM Offshore USA, a subsidiary of world’s largest FPSO provider SBM Offshore, has pleaded guilty for charges of bribing foreign officials in Brazil, Angola, Equatorial Guinea, Kazakhstan and Iraq in violation of the Foreign Corrupt Practices Act (FCPA). The U.S. Department of Justice said on Thursday that the Dutch FPSO specialist SBM Offshore would pay... Continue Reading →
Brazil lower house extends oil industry customs regime
Brazil’s lower house of Congress on Wednesday approved the basic text of a decree that extends for 20 years a preferential customs regime for the oil industry, a measure that has helped make Brazil attractive again to major global oil companies. The chamber must still vote next week on several amendments to the presidential decree,... Continue Reading →
Oil and gas oportunities in Brazil. 2017 -2019 Bidding rounds
The ANP presents the publication of the booklet "Oil and Gas Opportunities in Brazil 2017 - 2019 Bidding Rounds" that provides information on the areas for exploration and production to be offered in the 14th, 15th and 16th Bidding Rounds in the concession regime and also the areas of the 2nd, 3rd, 4th and 5th... Continue Reading →
Statoil Will Focus Exploration on Home Turf in 2018 to Curb Risk
Norway’s Statoil ASA will focus exploration on its home turf next year as it seeks more oil and gas to run through existing platforms rather than gigantic deposits in frontier areas. While global plans aren’t yet complete, it’s clear that the bulk of efforts will be in the company’s own backyard, exploration head Tim Dodson said Tuesday.... Continue Reading →
There’s Now a Vessel That Produces Zero Pollution
Cie. Maritime Belge SA has built the first commercial ship that runs on hydrogen and produces zero pollution, taking the world a step closer to cargo without emissions. Read more
S&P revises Total’s outlook from negative to stable
Credit ratings agency Standard and Poor’s has revised its outlook for oil major Total from negative to stable. S&P affirmed its ‘A+’ long-term and ‘A-1’ short-term corporate credit ratings on the company. “The outlook revision reflects our view of Total’s strengthening cash flow generation. The strengthening reflects robust downstream performance, moderating capital expenditures (capex), and... Continue Reading →
McDermott makes headway with Pemex platform construction
U.S. engineering and construction company McDermott is making progress with the construction of the Abkatun-A2 platform for the Mexican oil company Pemex. According to a Monday update on McDermott’s social media channels, the company has started the top deck lift of the Abkatun-A2 platform at its Altamira facility in Mexico. The facility is positioned as a free trade... Continue Reading →
Carwash Investigation Engulfs More of Peru’s Political Elite
Lima’s former mayor Susana Villaran is the latest politician to become ensnared in the ballooning scandal over the alleged payment of bribes or donations by Brazilian construction companies to some of the country’s leading politicians. Read more
Shell Restores Full Cash Dividend as It Emerges From Slump
Royal Dutch Shell Plc will pay its entire dividend in cash for the first time in more than two years as Europe’s biggest oil company seeks to demonstrate it has left the worst of the crude slump behind. Read more
Brazil Energy Insight 