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 →
Suretank Brazil and Pinamak close partnership to transport chemicals to platforms
09/08/2017 Suretank Latin America has entered into a partnership agreement with Pinamak in the quest to reduce operating costs in transporting chemicals to offshore platforms in Brazil. The partnership between Suretank, a leading manufacturer of offshore chemical tanks, and Pinamak, an offshore logistics company with a long-term presence in the Campos Basin, marks a... Continue Reading →
No-Name U.S. Oil Driller Gets Shot at World’s Biggest Reserves
Nicolas Maduro was in his element, flanked by an enormous Venezuelan flag, beneath a portrait of Simon Bolivar on horseback, in front of a statue of Hugo Chavez, praising foreign companies wise enough to make deals with what he called “our beloved PDVSA.” That would be Petroleos de Venezuela SA, the state-owned oil giant struggling to... Continue Reading →
Petrobras CEO: Pre-salt oil extraction costs $8 per barrel
Oil extraction in Brazil's promising pre-salt offshore wells costs about $8 per barrel, Petroleo Brasileiro SA Chief Executive Officer Pedro Parente said at an event in Sao Paulo on Tuesday. Discovered only 10 years ago, the pre-salt area has rapidly become the top priority for Petrobras and other oil majors holding exploration rights to some... Continue Reading →
Petrobras obtains Certification in the Corporate Governance Program for State-Owned Companies
Rio de Janeiro, August 8, 2017 – Petróleo Brasileiro S.A. – Pursuant to the material fact disclosed on June 5th, 2017, Petrobras informs that it has received the certification in the Corporate Governance Program for State-Owned Companies, granted by B3 (former BM&FBovespa). Petrobras has complied with all the compulsory measures of the Program and obtained... Continue Reading →
Extension of Repetro should include benefits to the local industrial sector
BY MANOEL VENTURA /Globo The Repetro program suspends the collection of federal taxes on the importation of equipment destined to the petroleum sector. Under the new rules, similar domestic products will undergo the same tax treatment. The provisional measure is being finalized by the federal government, according to sources accompanying the lawsuit. Created in 1999,... Continue Reading →
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