Tubular solutions provider Vallourec has signed new contracts for the supply of products and services to the Brazilian national oil company Petrobras. In the framework of these long-term agreements, Vallourec will supply Petrobras’ operations with OCTG products and associated accessories, the company said on Thursday. Read more

China’s tariffs in one corner of the energy market signal U.S. shale fields may follow the nation’s farms as a target if a trade war escalates. Beijing on Wednesday took aim at America’s rural heartland by proposing levies on politically sensitive farm commodities such as soybeans, which were among 106 U.S. products targeted. The list also included petrochemicals and... Continue Reading →

A Brazilian judge on Thursday ordered former President Luiz Inacio Lula da Silva to turn himself in to police within 24 hours to serve a 12-year sentence for a bribery conviction, likely ending the presidential front runner’s hopes of returning to power. Read more

  Spectrum has received authorization from IBAMA for a 2D seismic data survey in the Pernambuco-Paraíba Basin. The survey is non-exclusive and will be conducted by the BGP Challenger vessel. The release from the environmental body is valid until the end of November. Today, the Pernambuco-Paraíba Basin has six blocks under concession, offered in the... Continue Reading →

The world’s biggest energy companies are ready for big projects again. They just need to be cheaper this time around. Energy companies will approve spending for about 30 major projects this year, consultancy Wood Mackenzie Ltd. said in an April 5 report. That’s in line with the 32 that were sanctioned last year and more than were... Continue Reading →

Brazil’s Supreme Court early on Thursday rejected former president Luiz Inacio Lula da Silva’s plea to avoid prison while he appeals a corruption conviction, in a vote that likely ends his political career and deepens divisions in the country. Read more

Brazil’s Supreme Court on Wednesday will resume hearing former president Luiz Inacio Lula da Silva’s plea to remain out of prison while he appeals a corruption conviction, a case that has sharply divided the country, cast a shadow over this year’s presidential election and stirred rumblings in the army. Read more

The ANP announced that oil companies have declared proven reserves (1P) of 12.835 billion barrels in 2017, an increase of 1% compared to 2016 and a net addition of 168.9 million barrels. The highlight was the Santos Basin, which alone added 740 million barrels, an increase of 12%, the highest in absolute terms. Growth in... Continue Reading →

  One year after announcing the suspension of the sale process, Petrobras announced the teasers of the new disinvestment plans of the Baúna fields in Santos and Tartaruga Verde in Campos, which this time will be offered separately, unlike the original offering in 2015. In addition, Petrobras chose to include in the Tartaruga Verde package,... Continue Reading →