Tuesday, April 7, 2020

Blount News

Blount Named CEO at BCCK

Kevin Blount (Photo: BCCK)

Midland, Texas-based engineering, procurement and construction (EPC) firm BCCK, Inc. said its founder, Clark Butts and its Board of Directors have unanimously chosen Kevin Blount as the organization's next Chief Executive Officer.Blount, who currently serves as BCCK’s Chief Operating Officer, will succeed Butts…

Are OSVs Fit for Refit for Offshore Wind?

BEFORE: Island Clipper: Island Offshore of Ulsteinvik, Norway, has had success with conversions.  “before” and “after”.  Photos: Island Offshore

While it is generally agreed that the nascent offshore wind energy market in the U.S. will be a newbuild market, there is a repair and conversion possibility for some stacked OSVs.Though estimates on the pace of the offshore wind energy market in the U.S. vary widely, the direction is clear: offshore wind will be…

Atlantic Offshore Wind: Favorable Winds for Maritime

© 3plusx/Adobe Stock

Now that the United States finally can envision steady winds blowing from the Atlantic Seaboard due to a pipeline of offshore wind farms on the horizon, the maritime industry can finally step up and earn some of the benefits. This includes shipbuilding, port construction, and worker training. This article reviews…

Total Brasil to Move Beyond Libra with $300 Mln 2017 Drill Plan

French oil company Total SA plans to spend about $300 million exploring Brazil's Foz do Amazonas Basin in 2017, its first major step in the country since the discovery of the massive Libra area, its Brazil chief executive said on Friday. The company's plans for Libra show confidence in the area's potential and place as Total's key project in Brazil…

Statoil Aims for at Least 10% of Coming Brazil Gas Market

Norwegian oil company Statoil ASA hopes to have 10 to 15 percent of Brazil's natural gas market in coming years, Pal Eitrheim, the company's most senior executive in the country, told journalists on Wednesday.   Eitrheim added that major gas production in Brazil is likely to start after 2020. (Reporting by Jeb Blount; Editing by Ana Mano and Alistair Bell)

Eletrobras to Sell Real Estate, Complete Power Lines, CEO says

Brazil's financially troubled state-controlled electricity utility holding company Eletrobras plans to focus efforts on completing existing projects before bidding on new plants and power lines, its Chief Executive said on Friday. Centrais Eletricas Brasileiras SA, as the utility is formally known, is also asking…

Petrobras CEO: Wage Hikes of Last Decade are Impossible Today

Brazil's state-led oil company Petrobras is unable to give its workers the kind of pay raises that increased company salaries by about 50 percent in real, inflation-adjusted terms over the past decade, Chief Executive Pedro Parente said on Friday. Petroleo Brasileiro SA, as Petrobras is formally known, is in annual pay talks with its unions…

Oil Workers Reject Petrobras Offer, Strike Possible

Brazil's largest oil workers' federation said Thursday its members voted overwhelmingly to reject a contract offer from Petroleo Brasileiro SA, or Petrobras, and were preparing for a possible strike. Leaders of the FUP union plan to continue talks with Petrobras starting at 2 p.m. (1700 GMT) in Rio de Janeiro and have not yet called on workers to walk off the job.

Total: Brazil Libra NW Prospect Holds 3-4 Bln Barrels of Oil

French oil company Total SA said the northwest section of the supergiant Libra offshore oil prospect in Brazil holds 3 to 4 billion barrels of oil, according to a investor presentation on its Web site. The wells, drilled in the region around the Libra pioneer well, also show "excellent" productivity, Total, which owns 20 percent of Libra…

Brazil Unveils Details of Oil Rights Auction in Marginal Areas

Brazil's oil industry regulator ANP said on Thursday it plans to auction rights to up to 10 areas with marginal accumulations of petroleum and gas on March 24, one of three hydrocarbon-rights auctions planned for 2017. The areas the ANP plans to offer for sale in its fourth round of marginal rights sales are Garça Branca…

Golar Brazil LNG Venture to Build Power Plant

GG Power, a joint venture between Britain's Golar LNG Ltd and Brazil's GenPower Participacoes SA, plans to start construction of its 1,500 megawatt natural-gas-fired power plant in November, in the Brazilian state of Sergipe, a local government official said. Site preparation and grading is already underway and…

Brazil Should Pass Law Easing Petrobras Subsalt Rights This Year -IBP

A bill ending the requirement that Brazil's state-led oil company Petrobras lead all new projects in the country's Subsalt Polygon should become law by year end, Jorge Camargo, president of the country's oil industry association IBP, said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has…

Petrobras: Pipeline Sale to Brookfield Won't Affect Gas Contracts

Brazil's state-owned Petrobras said on Friday that its agreement to sell a 90 percent stake in its NTS pipeline system unit for $5.2 billion to a group led by Canada's Brookfield Asset Management Inc would not affect existing natural gas contracts. Petroleo Brasileiro SA, as the company is formally known, has gas supply contracts with its NTS unit, and they expire between 2025 and 2031.

Petrobras Cuts Spending, Raises Asset Sales Goal

Brazil's state-controlled oil company Petrobras cut planned investment by 25 percent under a five-year plan to reduce its massive debt, the largest among global oil firms, and revive investor confidence after a sweeping corruption scandal. Petróleo Brasileiro SA,, as the company is formally known, pledged as much as $74.1 billion in capital spending for the 2017-2021 period…

Petrobras Cuts Long Term CapEx by 25 pct

Brazil's state-controlled oil company Petroleo Brasileiro SA said on Tuesday that it plans to invest $74.1 billion under a new 2017-2021 investment plan, 25 percent less than it budgeted under its previous five-year plan. The financially troubled company also said it plans to produce 2.77 million barrels a day of…

Brazil oil workers reject Petrobras wage offer; strike is possible

Brazil's largest oil workers union strongly rejected on Friday a proposal from Petrobras for a deal over salaries and benefits in their annual talks, increasing the risk of a new strike at the state-led oil company. Leaders of the Federação Única dos Petroleiros (FUP) union said the terms broke agreements made in November to end a 20-day strike that was the company's longest in 20 years.

Petrobras August Output Falls after Sale of Argentine Oil Assets

August oil and natural gas output at Petroleo Brasileiro SA, Brazil's state-led oil company, fell 1.42 percent from July after a sale of Argentine assets slashed the company's international output. Petrobras, as the company is known, produced an average of 2.84 million barrels of oil and equivalent natural gas in August…

Petrobras Says More Than a Fifth of Employees Agree to Buyout

Brazil's Petrobras said on Friday that more than one in five of its direct employees agreed to leave the company under a buyout program expected to save the financially troubled state-led oil company 33 billion reais ($10.2 billion) by 2020. Under the program, 11,704 employees, 21 percent of Petrobras' 54,951 direct workforce as of July…

Brazil May Open Petrobras Subsalt Area to Other Companies

Brazil may allow companies besides Petrobras to bid for the right to produce extra oil from areas it sold to the state-led oil company in 2010, the head of the exploration and production policy at the energy ministry, Jose Botelho, said on Wednesday. Botelho also said the government may allow Petroleo Brasileiro SA…

Petrobras to Gain $11 Bln on Sale of Brazil Oil Rights to Statoil

The sale of a stake in Carcara, the giant Brazilian offshore oil prospect, to Norway's Statoil ASA will gain Brazil's state-led oil company Petrobras as much as $11 billion to pay debt or invest in other projects that promise to generate cash more quickly, Petrobras' chief executive said on Tuesday. Petroleo Brasileiro SA…