Rio de Janeiro, July 18, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has begun negotiations with Odebrecht S.A. to promote the revision of the terms and conditions of the Braskem S.A. Shareholder's Agreement, celebrated on February 8, 2010. This revision aims to improve Braskem’s corporate governance and the corporate relationship between the... Continue Reading →
Brazil mulls easing local content rules in older oil contracts
JULY 18, 2017 / 1:00 PM / 3 HOURS AGO RIO DE JANEIRO (Reuters) - Brazil's oil regulator is proposing a plan to allow companies to apply more flexible local content rules to pre-existing contracts, the agency chief said on Tuesday, in a bid to attract fresh investment by foreign oil majors into Latin America's... Continue Reading →
What If Big Oil’s Bet on Gas Is Wrong?
Talk to a Big Oil executive these days, and the chances are they’ll steer the conversation toward gas. “In 20 years, we will not be known as oil and gas companies, but as gas and oil companies,” Patrick Pouyanne, chief executive officer of French giant Total SA, told a conference in St. Petersburg last month. Read... Continue Reading →
Petrobras – Oil and natural gas production in June
Rio de Janeiro, July 17, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in June was 2.81 million barrels of oil equivalent per day (boed), of which 2.70 million boed produced in Brazil and 113 thousand boed produced abroad. The average oil production in Brazil was 2.20... Continue Reading →
Mexico Delays Next Oil Auction to Let Huge New Find Sink In
Mexico will delay its next offshore oilfield auctions by a month, giving international bidders more time to evaluate recent major crude discoveries that highlight the potential value of the assets. A new billion-barrel find announced last week "confirms that the Mexican side of the Gulf of Mexico is very prolific," said Juan Carlos Zepeda, Mexico’s... Continue Reading →
Exxon hunting for new Liza in Suriname
U.S. oil major Exxon Mobil has confirmed it has, with its partners Hess and Statoil, signed a production sharing contract for Block 59 with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname. To remind, Staatsolie informed of the upcoming signing of the PSC two weeks ago, but with little detail. The block adds... Continue Reading →
Aker BP quarterly revenues lifted by swelling production
Norwegian exploration and production company Aker BP more than doubled its second quarter 2017 production and revenues, compared to last year’s quarterly result, due to inclusion of BP Norge’s activities. To remind, Aker BP was formed in September 2016 through a merger between Det norske oljeselskap and BP Norge. In its quarterly financial report on Friday,... Continue Reading →
Brazil congressional panel votes against putting Temer on trial
A Brazilian congressional committee on Thursday voted against sending a corruption charge against President Michel Temer to the Supreme Court for the leader to be put on trial. The vote is non-binding and the full house must still vote on the charge, which would only be approved if two-thirds of legislators vote for it. Read... Continue Reading →
Statoil hires Seadrill drillship for drilling in Brazil
Offshore driller Seadrill has secured a firm contract for one well and one drill stem test with Statoil for the West Saturn drillship in Brazil. According to Statoil’s statement on Thursday, the exploration drilling with the Seadrill rig will be done in the BM-S-8 license in the Santos basin offshore Brazil, which contains parts of the... Continue Reading →
China’s HNA buys Odebrecht stake in Rio Airport for $19 million
The transport unit of Odebrecht SA, the Brazilian conglomerate at the heart of a global graft scandal, has concluded the sale of a stake in Rio de Janeiro international airport to China's HNA Infrastructure Co Ltd (0357.HK) for $19 million, the companies said on Thursday. The stake was the equivalent of 30 percent in the... Continue Reading →
