Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver integrated life cycle solutions to customers in the oil and gas sector. Through this partnership, both companies are set to increase their operational and service activities, and expand their presence in Latin America, Royal IHC said in a statement on Thursday. The association... Continue Reading →
Petrobras misses estimates on higher taxes; EBITDA slumps/2Q 2017
Petróleo Brasileiro SA missed second-quarter profit estimates by a large margin after joining a tax refinancing program, putting the brakes on efforts by Brazil's state-controlled oil producer to cut the largest debt burden among major global oil firms. Net income came in at 316 million reais ($99.54 million) last quarter, down from 4.449 billion reais... Continue Reading →
Petrobras – Accumulation Discovery in the Pre-Salt Layer of Campos Basin
Rio de Janeiro, August 10, 2017 - Petróleo Brasileiro S.A. – Petrobras reports the discovery of oil accumulation in the Campos Basin’s pre-salt layer, in the area of Marlim Sul field. This is the first commercial discovery of oil in the pre-salt layer of the Marlim Sul area. The discovery occurred during drilling of well... Continue Reading →
The new well commitments of the 13th Bidding Round (2015)
August 9, 2017 By Luiz Ehlers (EnergyWay) As reported by the newspaper O Globo, none of the wells committed in the 13th Round of Bidding have not been drilled due to environmental issues. It also highlighted that there is a paralyzed investment of around US $ 5 billion in these activities. THE LITTLE SATISFACTORY RESULTS... Continue Reading →
Eni joins Siemens Subsea Power Grid JIP
Eni Norge, a Norwegian subsidiary of the Italian oil giant Eni, has joined the Siemens Subsea Power Grid joint industry program (JIP). Siemens said on Monday that its subsea department was developing a complete subsea power network with a group of partners, led by Chevron and including Statoil, Exxon, and Petrobras. Read more
SBM Offshore: Industry witnessing recovery
Dutch FPSO specialist SBM Offshore has raised the expected revenue forecast for the full year 2017 on the back of the gradual recovery seen in the oil and gas industry. “As expected, the industry is witnessing a gradual recovery. Although significant decreases in project break-even prices are making deep water more competitive, our clients remain... Continue Reading →
Brazil approves first companies for upcoming bidding round
KUALA LUMPUR (Aug 10): National oil firm Petroliam Nasional Bhd (Petronas) is among the first batch of oil majors approved by the the licensing committee of Brazil's hydrocarbons regulator ahead of the country’s 14th licensing round for oil and gas concessions, scheduled for 27 September. Energy portal Upstreamonline this morning reported that the 14-strong list... Continue Reading →
Investors unfazed by wider fiscal deficit outlook in Brazil
When former Brazilian President Dilma Rousseff's government repeatedly missed its fiscal targets, investors fled the country. Now that her successor, Michel Temer, seems poised to do the same, financial markets appear unperturbed. Finance Minister Henrique Meirelles is expected to announce in the coming weeks a wider budget deficit goal for 2017 as a slower-than-expected economic... Continue Reading →
Brazil authorizes Petrobras to export idle LNG cargoes
Brazil's Petroleo Brasileiro SA has been authorized to export idle liquefied natural gas (LNG) in the spot market, according to the Wednesday issue of the official gazette. According to the text, Petrobras has been given the green light to export up to 6.6 million cubic meters, assuming this would not result in supply problems for... Continue Reading →
Odebrecht changes logo of companies because of involvement in Petrobras scandals
09/08/2017 Odebrecht is changing the names and logos of all its companies this month as part of a strategy to distance itself from corruption with Petrobras, which revealed that the company paid billions in bribes. The name of the group will not change, but will be removed from all companies, such as "Odebrecht Oil... Continue Reading →
Brazil Energy Insight 