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12/13/18 Third well will be decisive for defining the future of the definitive project of the first offshore deepwater field operated by the Brazilian oil company Queiroz Galvão Exploration & Production (QGEP) plans to begin drilling the third well of Atlanta's early production system in the Santos Basin at the end of February. The campaign... Continue Reading →
12/13/18 Bidding foresees the chartering of units to operate in Brazilian waters for three years Petrobras will receive until January 14 proposals for the chartering of two maintenance and security units (MSU) for a period of three years in Brazilian waters. The bidding is divided into two lots, both providing for the contracting of a... Continue Reading →
With much of the agenda under the Temer government and the liberal bias of the next government's economic team, the oil and natural gas market is optimistic about Jair Bolsonaro's new administration. Although the captain of the reserve has appointed an admiral with knowledge in the nuclear area to lead the Ministry of Mines and... Continue Reading →
Subsea services group Acteon has acquired Houston-based corrosion specialist Deepwater Corrosion Services. According to Acteon, the addition of Deepwater’s expertise and portfolio should strengthen its integrity management abilities of critical subsea infrastructure throughout the life of a field. Deepwater operates from facilities in the USA, the UK, Brazil, Norway and Australia. It has designed, built... Continue Reading →
Angola’s state-run oil and gas company is ramping up efforts to lure foreign investors and halt a decline in crude output. Once Africa’s biggest oil producer, output has tumbled in recent years due to under-investment in new projects and natural declines at aging fields. If it fails to halt this decline it will put severe... Continue Reading →
12/12/2018 HOUSTON -- AFGlobal has announced the launch of their Performance Drilling platform, a unique combination of equipment and software aimed at the onshore and shallow water drilling markets. AFGlobal's Performance Drilling platform incorporates equipment and software to seamlessly support rig operations with fundamental capabilities, including: applying surface back pressure set point pressure control... Continue Reading →
Brazil’s epic “Car Wash” corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. But graft allegations lodged by prosecutors last week against four of the world’s largest oil trading companies - Vitol SA, Trafigura, Glencore PLC and Mercuria Energy Group - have opened an... Continue Reading →
Paulo Guedes, the man tasked with fixing Brazil’s economy, likes to remind everyone that he’s a University of Chicago man. In interviews, he gushes at every opportunity about his days studying there under Milton Friedman. “Nobody had better training than me,” he proclaimed earlier this year. And if the message weren’t clear enough, Brazil’s incoming... Continue Reading →
BRASILIA/SAO PAULO (Reuters) - The Brazilian central bank on Wednesday held interest rates at an all-time low, as widely expected, and hinted that it will likely hold off from raising them for longer than expected. The bank’s nine-member monetary policy committee, known as Copom, kept the benchmark Selic rate at 6.50 percent for a sixth... Continue Reading →