Brazil is expected to loosen regulations in the oil industry on contracting goods and services after current restrictions dampened demand during a recent licensing round, an industry group said. The changes, under study by the Energy Ministry and that still need to be signed by president Dilma Rousseff, would make Brazilian projects more competitive amid... Continue Reading →
Brazil Bust Said to Spur Schlumberger to Boost Venezuela Staff
Cutbacks by Brazil’s state oil company has one of its main suppliers exporting local talent to an unlikely location: Venezuela. Schlumberger Ltd. is increasing activity in the neighboring country even as it continues to trim its global workforce in response to weakening demand for its goods and services elsewhere, according to a person familiar with... Continue Reading →
Brazil – Latest Poll
Dilma Rousseff’s popularity remained near record lows as the majority of Brazilians forecast Latin America’s biggest economy won’t recover from the current crisis for at least another three years. Rousseff’s personal approval rating was 15.9 percent compared with 15.3 percent in the previous poll in July, according to an Oct. 20-24 MDA poll published by the... Continue Reading →
Technip Awarded a Substantial Contract to Supply the First Flexible Pipes for the Libra Pre-Salt Field | Business Wire
Technip Awarded a Substantial Contract to Supply the First Flexible Pipes for the Libra Pre-Salt Field Confirming its strong expertise in deepwater and leveraging its technological leadership October 27, 2015 02:00 AM Eastern Daylight Time PARIS--(BUSINESS WIRE)--Regulatory News: “gas injection flexible pipes. Designed to produce the first Libra field oil, they are the first 8’’... Continue Reading →
BP Profit Beats Estimates as CEO Plans Deeper Cost Cuts
BP Plc third-quarter profit beat analysts’ estimates, boosted by refining profit, as Chief Executive Officer Bob Dudley laid out a plan for deeper cost cuts to withstand low prices. Earnings from processing crude into fuels and from trading oil and natural gas took profit adjusted for one-time items and inventory changes to $1.82 billion, 40... Continue Reading →
U.S. Plans to Sell Down Strategic Oil Reserve to Raise Cash
The U.S. plans to sell millions of barrels of crude oil from its Strategic Petroleum Reserve from 2018 until 2025 under a budget deal reached on Monday night by the White House and top lawmakers from both parties. The proposed sale, included in a bill posted on the White House website, equates to more than... Continue Reading →
Getting closer – Brazil police raid company owned by Lula son in corruption probe
Brazilian police raided the offices of a company owned by the son of former President Luiz Inacio Lula da Silva on Monday as part of a bribery investigation that threatens to drag his family into yet another scandal. The Federal Police said it was investigating a group of companies that allegedly bribed officials in a... Continue Reading →
Maersk Will Cut Up to 12% of Oil Jobs After Prices Slump
A.P. Moeller-Maersk plans to cut as much as 12 percent of its global oil unit workforce amid lower crude prices. The move will help Maersk Oil reach its goal of cutting expenses by 20 percent by the end of 2016 and brings the total number of job cuts this year to about 1,250, the company... Continue Reading →
Petrobras – Approval of Sale of Interests in Gaspetro
Petrobras - Approval of Sale of Interests in Gaspetro 10/23/2015 Rio de Janeiro, October 23, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that, continuing the operation announced on September 22, 2015, its Board of Directors, in a meeting held today, approved the sale to Mitsui Gás e Energia do Brasil Ltda of 49%... Continue Reading →
Clarification of News item: Petrobras has already received a proposal to acquire part of BR
Clarification of News item: Petrobras has already received a proposal to acquire part of BR 10/23/2015 Rio de Janeiro, October 23, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 425/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: Official Letter 425/2015/CVM/SEP/GEA-1 “We refer to the news item published today in the Empresas (Companies) section... Continue Reading →
Brazil Energy Insight 