Rio de Janeiro, August 15, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in July was 2.74 million barrels of oil equivalent per day (boed), 2.63 million boed of which produced in Brazil and 114 thousand boed produced abroad. The average oil production in the country was... Continue Reading →
Ex-Pemex CEO called before prosecutors over alleged Odebrecht bribes
Mexico's attorney general's office has called a close former aide of President Enrique Pena Nieto to respond to accusations he was involved in Brazilian builder Odebrecht's corruption scandal, a lawyer for the aide said. Brazil's O Globo newspaper reported this weekend on documents alleging that Emilio Lozoya, who also formerly headed state oil company Pemex,... Continue Reading →
Brazil softens budget deficit goals through 2020
Brazil's government loosened its budget targets for all years through 2020 on Tuesday, delaying prospects for a drop in the federal deficit after legislators repeatedly refused to raise taxes in the recession-hit economy. Cost-cutting measures were announced along with the new targets, in a bid to demonstrate President Michel Temer's commitment to fiscal discipline even... Continue Reading →
Transocean’s Songa Offshore Deal Is Biggest in Oil Downturn
Transocean Ltd. agreed to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collapsed three years ago. The enterprise value is about $3.4 billion, half of which is Songa debt assumed by the combined entity, the companies said. The 47.5 kroner ($5.96) a share offer implies an equity value for Norway’s Songa of... Continue Reading →
JUSTICE GRANTS THE POSSESSION OF DRILLSHIP VICTORY 10,000 TO PETROBRÁS
August 14, 2017 Petrobras won the lawsuit against the injunction of Schahin Engenharia and Deep Black Drilling, both in judicial recovery. The 5th Federal Court of Brasilia revoked a precautionary measure and dismissed the request for injunction against an act of Petrobras' directors that determined the termination of a lease agreement with the resumption... Continue Reading →
ANP to reduce royalties to stimulate investments in older fields
The main beneficiary will be the Campos Basin, which had 80% of Brazil's total oil production, but today accounts for only 50% The National Petroleum Agency (ANP) is concerned about the drop in oil production - about 30 percent - in the oldest post-salt fields that are facing the natural decline. To stimulate... Continue Reading →
PRUMO AND SIEMENS PARTNER UP FOR INSTALLATION OF GAS HUB IN AÇU PORT
Aug 14, 2017 Prumo Logística, a company that develops and operates Açu Port, and its subsidiary Gás Natural Açu (GNA), have signed a contract with Siemens for the development, implementation and operation of the UTE GNA I, Regasification Terminal of Açu, and other potential projects in the Açu Port Industrial Complex. Siemens will acquire, for... Continue Reading →
Solstad Farstad’s AHTS gets two-year contract in Brazil
Brazilian oil and gas company Queiroz Galvão Exploração e Produção (QGEP), a Queiroz Galvão Group company, has hired one of Solstad Farstad’s anchor handling tug supply (AHTS) vessels for work off Brazil. Solstad Farstad said on Monday that the vessel in question was the AHTS BOS Turmalina. Namely, the company was awarded a two-year firm... Continue Reading →
Repsol Sinopec focuses on asset consolidation in the country, will maintain production until 202
After recording record levels of production in Brazil, with the help of important pre-salt areas, Repsol Sinopec, controlled by the Spanish company Repsol, plans to work on the consolidation of its assets in the coming years, maintaining the extraction between 90 and 100 thousand barrels of oil equivalent day by 2020. The president of the... Continue Reading →
Petrobras – Sale of Assets in Paraguay: Start of the non-binding phase
Rio de Janeiro, August 14, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 7/7/2017, informs the start of the non-binding phase regarding the sale process of its assets in Paraguay. At this stage of the project, the descriptive memorandum is sent to interested parties qualified in the previous phase,... Continue Reading →
