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Norwegian oil major Statoil has completed the acquisition of a ten percent stake in the BM-S-8 block, located in the Santos basin offshore Brazil, from Queiroz Galvão Exploração e Produção (QGEP). Statoil said on Wednesday that QGEP’s 10% interest in the block was bought through a transaction announced in July for a total consideration of... Continue Reading →
World Bank Group, an international financial institution, has decided to stop financing upstream oil and gas projects in a bid to help tackle climate change. The World Bank said on Tuesday at the One Planet Summit, convened by French President Emmanuel Macron, it would stop financing upstream oil and gas after 2019 in order to align... Continue Reading →
A Brazilian appeals court on Tuesday said it would decide on Jan. 24 on an appeal by former President Luiz Inacio Lula da Silva against a corruption conviction that could bar him from running in the 2018 presidential race. Read more
Norwegian shipping company Solstad Farstad has won work for two of its vessels with Norway’s Aker BP and Brazil’s Petrobras. According to its Oslo Stock Exchange filing on Wednesday, Solstad Farstad has entered into a contract for the platform supply vessel (PSV) Far Solitaire with Aker BP. The contract is for a period of three months firm... Continue Reading →
DECEMBER 12, 2017 / 4:16 PM / UPDATED AN HOUR AGO Reuters Staff BRASILIA (Reuters) - Brazil’s Senate on Tuesday gave the green light to an extension of a preferential customs regime for the oil industry that has made the country more attractive to major global oil companies, sending the measure to the lower house... Continue Reading →
The world’s largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down. You name it -- crude oil, gasoline, diesel, propane and even liquefied natural gas -- all were shipped abroad at a record pace. While the surge comes many years after the shale boom started, it... Continue Reading →
The Ministry of Transparency and the Federal Comptroller General's Office (AGU) and the Federal Public Ministry have concluded a new leniency agreement with the Dutch company SBM Offshore, an oil exploration platform operator that admitted having paid millions of dollars in bribes to get Petrobras contracts. The company closed the first agreement with the... Continue Reading →
Brazil will likely limit planned cuts in local content requirements for future oil exploration and production contracts in a move aimed at appeasing local suppliers and to pave the way for an extension of customs breaks for oil companies. Read more
Mexican national oil company Pemex on Dec. 8 blamed the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite due to competition from recent auctions in Brazil and low oil prices. The country’s oil regulator on Dec. 7 canceled a tender for its Nobilis-Maximino project, a joint venture with Pemex,... Continue Reading →
Singapore’s Keppel Offshore & Marine (Keppel O&M) has secured projects from repeat customers Petrobras and SOFEC worth a combined value of approximately S$130 million ($96.2M). The projects were secured through Keppel O&M’s wholly-owned subsidiaries, Keppel FELS Brasil S.A. and Keppel Shipyard Ltd, the company said on Monday. Read more
