Japanese companies MODEC, Mitsui, MOL, and Marubeni will jointly invest in the Petrobras-bound Marlim FPSO.MODEC in October 2019 received a letter of intent from Petrobras for the supply, charter, and operations of the Marlim-1 FPSO.Now Mitsui…
Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees of accuracy and timeliness.The challenge is to form an accurate…
Brazilian oil production increased to 2.77 million barrels per day (bpd) on average in July, up 7% from a year earlier, local oil and fuels regulator ANP said on Monday.Natural gas production also increased by 7% in July from the same month last year to 124 million cubic meters…
Brazil will also lead globally on crude production capacity through upcoming floating production storage and offloading (FPSO) vessels with 2,430 thousand barrels per day (mbd) between 2019 and 2025.A total of 20 planned and announced floating…
Subsea services specialist Sapura Brazil has signed a five-year optimized maintenance agreement with Wärtsilä.As per the agreement the the Finnish tech major will support Sapura’s fleet of six pipe-laying support vessels' (PLSV) operational…
Brazil's state-run oil company Petrobras said on Tuesday its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion, but the deal remains subject to governmental agreement…
Royal Dutch Shell has plans to invest about $2 billion per year in Brazil through 2025, Chief Executive Ben van Beurden told newspaper Valor Econômico in an exclusive interview.Its investment plans could be increased to allow the company to bid in three upcoming oil and gas auctions…
Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.Switzerland…
Brazil auctioned off six port terminals for liquid fuels in the northern state of Para to private operators on Friday, with subsidiaries of state-run oil company Petroleo Brasileiro SA winning two of the areas.The government raised nearly 450…
Brazil's government will announce 'within days' a deal with state-run oil company Petrobras to settle a multi-billion-dollar contract dispute and clear the way to auction billions of barrels of oil off of the Brazilian coast, a minister said on Monday…
The Brazilian government is likely to pay around $10 billion to state-run oil firm Petroleo Brasileiro SA to settle the so-called 'transfer-of-rights' dispute, newspaper Valor Economico reported on Tuesday, though the parties have not agreed on final terms…
Brazil's state-run oil company Petroleo Brasileiro SA said on Tuesday it had started production at its P-77 platform, its fourth platform to enter operations in the Buzios field within the pre-salt region of Bacia de Santos.Petrobras, as the company is known…
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, named Andrea Marques de Almeida, an engineer and former executive at mining company Vale SA, as its new chief financial officer, according to a securities filing.Andrea Almeida will replace Rafael Salvador Grisolia…
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday.Petrobras said…
Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake…
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