Rio de Janeiro, August 16, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the material fact July 26, 2017, reports that the bookbuilding procedure (“Bookbuilding”) for the 5th (fifth) issue of simple, non-convertible, unsecured debentures ("Issuance" and "Debentures") has been concluded, resulting in the distribution of Debentures amounting to R$ 4,988,819,000.00 (four billion, nine... Continue Reading →
Maersk Oil lifts profit on higher oil price, lower costs
Danish oil company Maersk Oil increased its profit and revenues for the second quarter of 2017 helped by higher oil prices and lower costs. According to a financial report on Wednesday by Maersk Oil’s parent company, A.P. Moller – Maersk, Maersk Oil recorded an underlying profit of $184 million in the second quarter of 2017,... Continue Reading →
Offshore rig dayrates expected to remain soft, Maersk Drilling says
Danish offshore driller Maersk Drilling does not expect to see financial improvements from an increase in offshore rig demand until the market reaches a stable oil price above $60 per barrel or until industry cost levels adjust further to a lower oil price. The current oil price remains below levels required to support sustainable economic returns... Continue Reading →
ANP extends date of public consultation of resolution that will define criteria for exemption of Local Content
The ANP decided to extend for 30 days (until September 18) the period of Public Consultation No. 20/2017, which aims to collect subsidies for the edition of the resolution that will govern the criteria applicable to requests for exemption from compliance with the Local Content obligation , Adjustment and transfer of surplus, in addition... Continue Reading →
Brazil prosecutors to investigate Petrobras Argentina sale
Prosecutors investigating Brazil's biggest-ever corruption scandal will probe last year's sale of the Argentine subsidiary of Petrobras, Brazil's state oil company, a lawyer representing its minority shareholders on Wednesday. Petrobras, formally known as Petroleo Brasileiro SA (PETR4.SA), sold its 67.2 percent stake in Petrobras Argentina SA for $892 million to Pampa Energia SA (PAM.BA), Argentina's... Continue Reading →
SHELL TO START LENA KNUTSEN TANKER OPERATION IN BRAZIL IN SEPTEMBER
August 15, 2017 Shell is expected to start operating the Lena Knutsen vessel in Brazil in September. The contract of the vessel lasts for five years, with the option of extending the agreement for another two periods of five years. The naval assets belong to the British company KNOT Offshore Partners. The Norwegian-flagged vessel was... Continue Reading →
Petrobras – Oil and natural gas production in July
Rio de Janeiro, August 15, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in July was 2.74 million barrels of oil equivalent per day (boed), 2.63 million boed of which produced in Brazil and 114 thousand boed produced abroad. The average oil production in the country was... Continue Reading →
Ex-Pemex CEO called before prosecutors over alleged Odebrecht bribes
Mexico's attorney general's office has called a close former aide of President Enrique Pena Nieto to respond to accusations he was involved in Brazilian builder Odebrecht's corruption scandal, a lawyer for the aide said. Brazil's O Globo newspaper reported this weekend on documents alleging that Emilio Lozoya, who also formerly headed state oil company Pemex,... Continue Reading →
Brazil softens budget deficit goals through 2020
Brazil's government loosened its budget targets for all years through 2020 on Tuesday, delaying prospects for a drop in the federal deficit after legislators repeatedly refused to raise taxes in the recession-hit economy. Cost-cutting measures were announced along with the new targets, in a bid to demonstrate President Michel Temer's commitment to fiscal discipline even... Continue Reading →
Transocean’s Songa Offshore Deal Is Biggest in Oil Downturn
Transocean Ltd. agreed to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collapsed three years ago. The enterprise value is about $3.4 billion, half of which is Songa debt assumed by the combined entity, the companies said. The 47.5 kroner ($5.96) a share offer implies an equity value for Norway’s Songa of... Continue Reading →
Brazil Energy Insight 