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Upgrade work on Teekay’s Petrojarl I FPSO destined to be redeployed in Brazil after having spent almost three decades in the North Sea area, has finally been completed. Damen Shipyard, which has been working on preparing the vessel for Brazil since the early 2015, on Friday said the work had been completed and the FPSO... Continue Reading →
Total SA agreed to buy the oil and gas unit of A.P. Moller-Maersk A/S, the French company’s biggest acquisition since 1999 and another sign of the accelerating pace of energy deals after a long downturn. Total will pay Maersk with $4.95 billion of its own shares and assume $2.5 billion of the Copenhagen-based company’s debt, according to... Continue Reading →
Offshore driller Noble Corp. has found work for its Noble Bob Douglas drillship in Guyana. The contract is with ExxonMobil in Guyana and is for a three-year period. Noble did not disclose the contract dayrate. The drillship, built in 2013 by Hyundai Heavy Industries, is expected to start working for Exxon in the first half of... Continue Reading →
(Reuters) - Brazil on Friday extended through 2040 a preferential customs regime for the oil and gas industry called Repetro, which was set to expire in 2019, as it seeks to entice investment ahead of key auctions later this year. The move was accompanied by another decree creating a special tax regime to bolster local... Continue Reading →
Brazilian authorities announced two new phases of their Car Wash operation on Friday, ensnaring U.S. asphalt maker Sargeant Marine, six Greek shipping companies and a former Brazilian congressman in the wide-ranging graft probe. "These operations leave a clear message: foreign firms will not be spared by Car Wash," Prosecutor Athayde Ribeiro Costa said in a... Continue Reading →
Brazil's government and state-run oil company Petroleo Brasileiro are locked in a dispute over the value of offshore oil blocks involving an estimated $30 billion, newspaper Valor Econômico reported on Friday. The dispute, which has previously been reported, centers on a 2010 contract in which Petrobras paid the government for the transfer of exploratory rights... Continue Reading →
(Reuters) - Taking aim at local corruption, Brazil is trying to get competition among global players to build a $1 billion natural gas plant, but the number of foreign bids will be smaller than anticipated due to more stringent requirements, sources said. Brazil's state oil company Petroleo Brasileiro SA excluded large local engineering firms implicated... Continue Reading →
Indebted offshore driller Seadrill Limited has made changes to its credit facilities to insulate Seadrill Partners, a limited liability company formed by Seadrill Limited to own drilling rigs, from its restructuring. Seadrill Limited informed on Thursday it has completed amendments to three secured credit facilities that relate to rigs bought by Seadrill Partners from the company... Continue Reading →
Offshore drilling contractor Vantage Drilling International said on Wednesday an investigation into the company’s possible violations of the Foreign Corrupt Practices Act regarding alleged improper payment in Brazil had been completed. The company said it had received a letter from the United States Department of Justice acknowledging Vantage’s full cooperation in the DOJ’s investigation concerning... Continue Reading →
Updated: Wednesday, August 16, 2017, 05:08 PM Total is now 21 companies The Special Bidding Commission (CEL) approved on Wednesday (16/08) the registration of seven more companies in the 14th Round of Bids. Of these, two are of foreign origin CNOOC (China) and Murphy (USA) and five Brazilian. Two still do not have a... Continue Reading →
Brazil Energy Insight 