Rio de Janeiro, November 17, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 08/28/2017, informs the start of the non-binding phase related to the full sale of its exploration, development and production rights in three sets of onshore fields (totaling 50 concessions), located in Rio Grande do Norte and... Continue Reading →
Petrobras shares sink on weak third-quarter results
Shares of Brazil’s Petroleo Brasileiro SA (PETR4.SA) plunged 7.8 percent on Tuesday a day after the state-controlled oil company reported disappointing third-quarter earnings. Read more
ONIP’s Program ” Virtuoso Circuit” for the Oil and Gas Industry in Brazil is launched at Firjan
Based on the positive result of the last oil and natural gas bidding rounds, the Ministry of Mines and Energy (MME) launched ,in partnership with the National Organization of the Petroleum Industry (Onip) and the Federation of Industries of the State of Rio de Janeiro (Firjan), the Virtuoso Circuit program for the Oil and Gas... Continue Reading →
Brazil to cut $12 billion fine for construction firm Andrade Gutierrez
The Brazilian government has backed off a previous plan to fine construction and engineering conglomerate Andrade Gutierrez SA 40 billion reais ($12 billion) for its participation in a graft scheme, a national newspaper reported on Thursday. Read more
GE evaluating ‘exit options on Baker Hughes’ months after megamerger
Boston-based General Electric Co. (NYSE: GE) and Houston-based Baker Hughes Inc. closed on their megamerger over the summer, combining the latter with GE Oil & Gas to form Baker Hughes, A GE Company (NYSE: BHGE). Since then, GE has announced several changes and this week unveiled a major turnaround plan. The plan includes a variety of measures — from changes to executives’ paychecks to $20... Continue Reading →
Petrobras Chief in a Rush to Deliver as Election Season Nears
The clock is ticking for Petrobras’ Pedro Parente. Chief executive officer since May 2016, Parente has set an aggressive agenda to solidify the state-controlled company’s finances after the twin challenges of the oil rout and a corruption scandal dealt it a near-death experience. Now, he’s rushing to finish his work before an unpredictable presidential campaign makes... Continue Reading →
Petrobras – Arbitrations filed by pension funds
Rio de Janeiro, November 14, 2017 - Petróleo Brasileiro S.A. - Petrobras, further to the press releases disclosed on 10/04/2017 and 11/13/2017, informs that it has been notified, today, of two requests for the filing of an arbitration before the B3 Arbitration Chamber, one by Petros and another by Previ. In addition, the company was... Continue Reading →
Petrobras Oil and natural gas production in October
Rio de Janeiro, November 14, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in October was 2.77 million barrels of oil equivalent per day (boed), with 2.67 million boed produced in Brazil and 104 thousand boed produced abroad. The average oil production in the country was 2.16... Continue Reading →
IEA: Too early to write obituary for oil
Oil shouldn’t be written off too early, despite the expected sharp rise in gas and renewables over the next 25 years. This is according to the International Energy Agency which forecasts that over the next 25 years, the growing energy needs will be met by renewables and gas first. In its World Energy Outlook 2017,... Continue Reading →
Spectrum builds on Argentinian program with new seismic survey
Seismic data specialist Spectrum has begun its multi-client 2D seismic survey covering the Austral and Malvinas basins offshore southern Argentina. Spectrum said on Tuesday that the expected survey size was around 14,500 km but may vary based on input from participating clients. Read more
