Rio de Janeiro, June 19, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that its total oil and natural gas production in May was 2.80 million barrels of oil equivalent per day (boed), of which 2.68 million boed produced in Brazil and 120 thousand boed produced abroad. The average oil production in the country was... Continue Reading →
DOF Subsea puts off IPO plans
Norwegian subsea services provider DOF Subsea has decided to wait with launching the initial public offering (IPO) after all due to volatile market. The company’s shareholders, DOF ASA with 51% and a fund managed by First Reserve with 49% ownership, started considering the opportunity for the company to apply for a listing on Oslo Stock Exchange in May.... Continue Reading →
ExxonMobil makes FID for Liza field off Guyana
Oil giant ExxonMobil on Friday made a final investment decision (FID) to proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. The company also on Friday announced positive results from the Liza-4 well, which encountered more than 197 feet (60... Continue Reading →
Brazil’s Petrobras cuts gasoline and diesel prices
Wed Jun 14, 2017 The logo of Petrobras, state-controlled Petroleo Brasileiro SA, is seen at their President Bernardes Refinery in Cubatao, Brazil June 8, 2017. REUTERS/Paulo Whitaker Brazil's state-controlled oil company Petroleo Brasileiro SA reduced on Wednesday its average prices at refineries by 2.3 percent for gasoline and 5.8 percent for diesel, the company said... Continue Reading →
Norway’s oil production: ‘Almost 50 years in and still not halfway done’
Norway has been producing oil and gas for almost half a century, since the first production at the Ekofisk field in 1971. According to the Norwegian Petroleum Directorate, when it comes to oil and gas production, the Scandinavian country is not halfway done yet. Since 1990, total resources, including the estimate for undiscovered resources in... Continue Reading →
Shareholders say Yes! to Wood Group-Amec FW merger
Wood Group and Amec Foster Wheeler have approved Wood Group’s recommended all-stock offer for Amec Foster Wheeler. The offer was launched by Wood Group back in March, under which each Amec Foster Wheeler shareholder will receive for each Amec Foster Wheeler share 0.75 new Wood Group shares. Read more
Benthic’s PROD Aces Libra
Houston, June 14, 2017 - On Friday, February 24th Benthic Brasil Ltda., a wholly owned subsidiary of Benthic Geotech Pty Ltd, successfully completed the offshore phase of a major geotechnical site investigation on the Libra Consortium’s ultra-deepwater Libra project. Utilizing Benthic’s proprietary PROD (Portable Remotely Operated Drill) seabed founded drill rig, the fieldwork phase... Continue Reading →
Petrobras – Approval of Deputy Officer for Governance and Compliance Post
Rio de Janeiro, June 13, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved, in a meeting held yesterday, the creation of the non-statutory position of Deputy Officer for Governance and Compliance. The measure is yet another step forward in the company’s governance system, considering that the Deputy Officer will... Continue Reading →
Brazil’s CVM fines Eike Batista $6.3 mln for insider trading
Brazil's securities regulator on Tuesday ordered former billionaire Eike Batista to pay 21 million reais ($6.3 million) for stock trading based on insider information about his shipbuilding company OSX Brasil SA . The regulator, known as the CVM, said Batista had sold OSX shares before public release of information that triggered a sharp selloff on... Continue Reading →
TechnipFMC buys remaining Kanfa stake from Sevan
Sevan Marine, a Norwegian designer of offshore oil and gas facilities, has sold its shares in the topside specialist Kanfa to TechnipFMC. Technip, now TechnipFMC, initially acquired a 49 percent stake from Sevan, back in 2014 for an undisclosed amount. Under the agreement Sevan has agreed to sell its remaining 51% shareholding in Kanfa to Technip Norge... Continue Reading →
Brazil Energy Insight 