Already in default and struggling with sinking oil production, Venezuela’s state-run energy firm told its employees to cut costs and expenses by 50 percent in an austerity drive to reflect the broader economic crisis hitting the OPEC nation of 30 million people. Read more
Temer Agrees on Brazil Pension Vote With House Chief
Brazil President Michel Temer on Wednesday struck a tentative deal with Lower House Speaker Rodrigo Maia to put the administration’s controversial pension bill to vote in early December, prompting local assets to rally. Read more
Brazil – Oil and gas industry debates new rules
November 23, 2017 SetecoNews After the two pre-salt auctions, whose balance was considered positive by the government, both in terms of current and future revenues - R $ 6.15 billion in signing bonus and expectation of investments of R $ 600 billion over the 30 years of production in the areas - as well... Continue Reading →
OCEANEERING PLANS TO BRING NEW TECHNOLOGIES FOR THE BRAZILIAN OIL AND GAS MARKET
November 23, 2017 Despite the crisis in the market, Oceaneering is betting on the resumption of the Brazilian oil and gas sector in the coming years, and today is concentrating efforts in the tools, autonomous inspection and survey sectors. "Oceaneering is an engineering and solutions company. We are attentive to what is happening in the... Continue Reading →
Liquigás sale process: Extension of the analysis period by CADE
Rio de Janeiro, November 22, 2017 – Petróleo Brasileiro S.A. – Petrobras, persuant to the press releases disclosed on 06/30/2017 and 08/28/2017, related to the analysis of the sale of Liquigás Distribuidora SA, a wholly owned subsidiary of Petrobras, to Companhia Ultragaz SA, informs that the Administrative Council for Economic Defense ("CADE") extended the period... Continue Reading →
Petrobras Sale of Azulão Field
Rio de Janeiro, November 22, 2017 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact of 05/15/2017 and Press Release of 06/19/2017, informs that it has signed, today, with the company ENEVA SA, through its subsidiary Parnaíba Gás Natural SA, the contract for the assignment of the totality of its participation in the... Continue Reading →
Eight oil and gas majors commit to cut methane emissions
Six oil and gas majors ExxonMobil, Shell, Total, Eni, Statoil, Repsol, BP, and Wintershall have said they would commit further to reducing methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value chain – from production to the final consumer... Continue Reading →
Enseada shipyard completes its debt restructuring process
Enseada Indústria Naval S.A. reports that the 6th Business Court of the Court of Justice of the State of Rio de Janeiro approved on November 14, the extrajudicial recovery plan filed by the company on January 27 of this year. As a result of this important event, the terms of the plan take effect and... Continue Reading →
Claudio Makarovsky is the new President of ABESPetro
11/22/2017 The Brazilian Association of Petroleum Services Companies (ABESPetro), elected on Tuesday the 21st), by direct vote of its members, the new board of directors for the biennium 2018/2019. They were elected: Alejandro Duran (GE Oil & Gas), Claudio Makarovsky (Siemens), Gilberto Cardarelli (Brasco), José Mauro Ferreira (TechnipFMC), Rodrigo Ribeiro (Queiroz Galvão) and Telmo... Continue Reading →
Public offering of Petrobras Distribuidora (BR) Shares
Rio de Janeiro, November 22, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Facts disclosed on 09/28/2017 and 10/16/2017, reports that it filed with the Securities and Exchange Commission of Brazil ("CVM") documents related to the secondary public offering of common shares issued by BR (“Offer”), in compliance with CVM’s requirements. The... Continue Reading →
Brazil Energy Insight 