Schlumberger Announces Second-Quarter 2017 Results Revenue of $7.5 billion increased 8% sequentially Pretax operating income of $950 million increased 25% sequentially GAAP loss per share, including charges of $0.40 per share, was $0.05 EPS, excluding charges, was $0.35 Quarterly cash dividend of $0.50 per share was approved Read more
Subsea 7 awarded contract extensions offshore Brazil
Luxembourg - 21 July 2017 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of contract extensions for three Pipelay Support Vessels (PLSVs) currently on long-term day-rate contracts offshore Brazil. These extensions have a combined value of approximately USD 250 million. The firm contract periods for the Seven Waves, Seven Rio... Continue Reading →
Brazil’s Petrobras has recovered $227 million from Operation Car Wash
JULY 19, 2017 RIO DE JANEIRO (Reuters) - Brazilian state-controlled oil company Petroleo Brasileiro said on Wednesday it has recovered 716 million reais ($227.24 million) through Operation Car Wash, an investigation into the country's largest-ever corruption scheme. The probe uncovered kickbacks from executives to powerful politicians in return for contracts at state-run enterprises, especially Petrobras,... Continue Reading →
ANP – 14th Round final Tender Protocol and model of Concession Contract
The Final Tender Protocol brings the rules and procedures of the 14th Bidding Round sets forth rights and obligations of the future concessionaires. The final tender protocol and the model of concession contract furnish improvements in relation to the draft tender protocol and to the draft of concession contract, published on May, 18 2017.... Continue Reading →
Brazil publishes contract model for 14th round oil-rights auction
JULY 19, 2017 / 6:47 PM RIO DE JANEIRO (Reuters) - Brazil's oil watchdog ANP on Wednesday published the model contract for its 14th round auction of oil and natural gas exploration rights, scheduled for Sept. 27. On offer are 287 blocks in the offshore basins of Sergipe-Alagoas, Espírito Santo, Campos, Santos, Pelotas, and onshore... Continue Reading →
Brazil approves long-term tests at Petrobras Libra platform
JULY 18, 2017 / 6:30 PM SAO PAULO (Reuters) - Brazil's environmental agency Ibama has issued an operating license for long-term tests at the Pioneiro de Libra floating platform operated by Petroleo Brasileiro SA , according to a statement on the agency's website on Tuesday. The license was issued on condition that the operators of... Continue Reading →
Start of negotiations to revise the Braskem Shareholder’s Agreement
Rio de Janeiro, July 18, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has begun negotiations with Odebrecht S.A. to promote the revision of the terms and conditions of the Braskem S.A. Shareholder's Agreement, celebrated on February 8, 2010. This revision aims to improve Braskem’s corporate governance and the corporate relationship between the... Continue Reading →
Brazil mulls easing local content rules in older oil contracts
JULY 18, 2017 / 1:00 PM / 3 HOURS AGO RIO DE JANEIRO (Reuters) - Brazil's oil regulator is proposing a plan to allow companies to apply more flexible local content rules to pre-existing contracts, the agency chief said on Tuesday, in a bid to attract fresh investment by foreign oil majors into Latin America's... Continue Reading →
What If Big Oil’s Bet on Gas Is Wrong?
Talk to a Big Oil executive these days, and the chances are they’ll steer the conversation toward gas. “In 20 years, we will not be known as oil and gas companies, but as gas and oil companies,” Patrick Pouyanne, chief executive officer of French giant Total SA, told a conference in St. Petersburg last month. Read... Continue Reading →
Petrobras – Oil and natural gas production in June
Rio de Janeiro, July 17, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in June was 2.81 million barrels of oil equivalent per day (boed), of which 2.70 million boed produced in Brazil and 113 thousand boed produced abroad. The average oil production in Brazil was 2.20... Continue Reading →
Brazil Energy Insight 