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Danish offshore vessel owner Maersk Supply Service has been awarded a two-year contract with Brazil’s PetroRio for Maersk Pacer an anchor handler, to perform tanker lifting for offloading operations in Brazil. Maersk Supply Service’s CCO Carsten Gram Haagensen said: “With this contract, Maersk Supply Service demonstrates that we are a trusted and preferred vessel... Continue Reading →
Halliburton Co. reported fourth-quarter adjusted profit that beat analysts’ estimates after oil explorers kicked off a year-end recovery in North America where the service provider generates most of its sales. The world’s largest fracking services provider posted profit excluding certain items of 4 cents a share, according to a statement Monday, exceeding the 2-cent average of 39... Continue Reading →
General Electric Co.’s fourth-quarter revenue trailed analysts’ estimates as the persistent oil-patch slump damped demand for the industrial equipment that forms the heart of the company’s business. “2016 was an extremely difficult year for oil and gas,” Chief Financial Officer Jeff Bornstein said Friday on a conference call after GE announced earnings results. Read more
Schlumberger Ltd. reported a fourth-quarter loss as oil’s slump continued to weigh on demand for drilling services. The world’s largest oilfield service provider posted a net loss of $204 million, or 15 cents a share, after a loss of $1.02 billion, or 81 cents, a year earlier, according to a statement Friday. Excluding certain items,... Continue Reading →
The announcement and contract of the 4th Round of Marginal Accumulations in May 11 was published by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), will offer nine areas for exploration and production of oil and gas with low potential in three basins. Concession will be offered in the areas of the... Continue Reading →
Brazil plans to hold two subsalt oil auctions in 2017, putting new exploration areas up for bidding in November for what should be the "most competitive" round of the year, Oil Secretary Marcio Felix said in an interview on Thursday. The auctions, an effort to lure foreign investment in a sector that for much of... Continue Reading →
Brazilian Supreme Court Justice Teori Zavascki was killed in a plane crash on Thursday, raising questions about who will take over his investigation into dozens of politicians in the country's biggest ever corruption scandal. Rescuers found three bodies in the wreckage of the small, twin-prop plane that crashed off the coast of Rio de Janeiro... Continue Reading →
Brazil's inflation rate slowed more than expected in mid-January, falling below 6 percent for the first time in nearly three years and reinforcing market bets on steep interest rate cuts by the central bank. Consumer prices as measured by the IPCA-15 index rose 5.94 percent in the 12 months to mid-January, slowing from an... Continue Reading →
Jan 18 Brazil's state-controlled oil company Petrobras said on Wednesday it accepted a demand from workers for an 8.5 percent pay raise retroactive to September, a move that could eliminate the threat of a strike. The raise, however, would depend on workers accepting possible cuts in work hours, the company said. (Reporting by Marta Nogueira;... Continue Reading →
Jan 18 Fire was reported on Wednesday at the Reduc refinery in the state of Rio de Janeiro controlled by Brazil's state-run oil firm Petrobras, with impact on production, a local oil workers union said. Flames had reached one of the three distillation units at Reduc, located in Duque de Caxias, in Rio's metropolitan... Continue Reading →
Brazil Energy Insight 