Schlumberger to Manage Equinor Project in Brazil
Schlumberger signed a contract worth over $200 million with oil major Equinor to manage an offshore rig as part of a drilling program in Brazil's offshore Campos oil basin, a person familiar with the matter said on Thursday.The deal would be the first time an oil services company replaces a drilling-rig contractor, the person said, adding…
Shell Appoints Sawan as Upstream Boss
Royal Dutch Shell has appointed Wael Sawan to head its oil and gas production division, replacing Andy Brown who will step down after 35 years at the Anglo-Dutch company.Sawan, 44, a Canadian citizen of Lebanese origin, currently heads Shell's deepwater operations, one of the company's cash growth engines in recent years. He joined Shell in 1997.Brown…
Petrobras 2018 Production Shy of Target
Petroleo Brasileiro produced an average of 2.03 million barrels per day (bpd) in Brazil last year, the oil company said in a statement on Tuesday, just below the company's target of 2.1 million bpd.Petrobras' total production of oil and natural gas was 2.63 million barrels of oil equivalent per day (boe/d), with 101,000 boe/d produced abroad, it said.
Petrobras Wants to Operate 3 Blocks in 6th Pre-salt
Brazil state-run oil firm Petroleo Brasileiro SA said on Monday it plans to exercise its preferential rights to operate three blocks in the next pre-salt deep water auction, due later this year, under a production-sharing contract scheme.In a statement, Petrobras said it had told the National Council for Energy Policy (CNPE) that it wanted to operate…
Three Nominated to Petrobras Board
Brazil's government on Monday nominated three new board members for state-owned oil company Petroleo Brasileiro SA (Petrobras), amid accusations that new CEO Roberto Castello Branco was pushing to oust board members.The nominees are Eduardo Bacellar Ferreira, John Forman and Joao Cox.(Reporting by Marcelo Rochabrun; editing by Jason Neely)
New Petrobras Chief Wants to Oust Board Members
The new chief executive of Brazil's Petroleo Brasileiro SA is pushing for the ouster of two of the state-controlled oil company's board members, three people with knowledge of the matter said on Friday.Roberto Castello Branco is seeking the resignation of two Petrobras board members, Segen Estefen and Durval Soledade, whose mandates were only supposed to end in 2020.
US Oil Export Boom Sparks Battle to Build Texas Ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to…
Oil Spill from Espadarte Field FPSO
Brazilian state-run oil firm Petróleo Brasileiro S.A. announced there was an oil spill on January 2 from its chartered floating production storage and offloading unit (FPSO) Cidade de Rio de Janeiro, in the Espadarte field offshore Brazil.Petrobras said approximately 4.9 cubic meters of oil leaked from one of the tanks of the FPSO, which is in the process of being decommissioned after ceasing production in July 2018.
A 'Chicago Boy' Takes the Reins at Petrobras
Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA, will either save the indebted oil major - or strip it to the bone.Tapped by far-right President Jair Bolsonaro, who took power on Tuesday, Castello Branco had said in a June newspaper column he thought Petrobras - as the company is known - should be privatized…
Total Starts Production at Egina Oilfield
Total SA said on Wednesday it had started production from the Egina oilfield off Nigeria's coast, part of a shift by the French energy firm towards deepwater oil and gas projects to its drive cashflow.Output from Egina, which is located in waters about 1,600 metres (5,250 ft) deep, is expected to plateau at 200,000 barrels per day of oil, Total said.
SEACOR Marine to Acquire Brazil's UP Offshore
SEACOR Marine Holdings, the provider of marine and support transportation services to offshore oil, has announced the acquisition of UP Offshore (Bahamas) by a new joint venture company that is 49% owned by a subsidiary of SEACOR Marine and 51% owned by a subsidiary of Proyectos Globales de Energía y Servicios CME.UP Offshore is a leading provider of offshore support vessel services to the energy industry in Brazil…
Dutch SBM Offshore Leniency Deal Approved by Brazilian Court
A leniency deal between Brazilian prosecutors and Dutch-based SBM Offshore has been approved by a judge, opening the way for the marine engineering group to bid for new contracts in its largest market.As a result of its role in a major corruption scandal involving state-owned oil company Petrobras, SBM had agreed to pay a total of 1.4…
Brazil Council Approves Sixth Round Pre-salt Auction
The Brazilian energy advisory council on Monday approved the sixth-round auction for Brazil's coveted pre-salt offshore oil area to be held next year, the energy ministry said.The auction will include the two new blocks of Southwest Sagittarius and Brava Norte in addition to the previously considered three of Aram, Southern Cross and Boomerang, the ministry said.
Qatar Buys Eni's Mexican Oil Stakes
Qatar Petroleum (QP) signed an agreement with Italy’s Eni SpA to acquire a 35% stake in three offshore oil Fields in Mexico.The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay, said a press statement from the Arab country's government-owned energy company.The agreement is subject to customary regulatory approvals by the government of Mexico.
Brazil Reaches Deal with Petrobras Over Transfer of Rights Area
The Brazilian government has reached an agreement with state-controlled oil company Petróleo Brasileiro SA over the so-called transfer of rights area, Finance Minister Eduardo Guardia said on Wednesday.Guardia declined to disclose values nor who is owed what under the terms of the agreement.
Mexico President's Pemex Plans Rattle Debt-holders
Mexican President Andres Manuel Lopez Obrador's declaration of war on "neo-liberal" economics has shaken investors holding Petroleos Mexicanos bonds, fueling concern about the future of the highly-indebted state oil company he has pledged to revive.Ratings agencies and three managers spoken to by Reuters at funds that either hold Pemex…
AET Grows in Brazil
With the ongoing development of deepwater pre-salt plays and a decreased demand on local content in tankers and other vessels, Brazilian national operator Petrobras and other super-majors have been looking abroad for better rates and reliable operators of shuttle tankers. Claudio Paschoa, Maritime Reporter’s correspondent in Brazil spoke to Peter Liew…
Attempted Oil Theft Leads to Spill
At least 60,000 liters (377 barrels) of oil spilled into Rio de Janeiro's Guanabara Bay and a nearby river over the weekend after an attempted robbery on a pipeline, Petroleo Brasileiro SA's Transpetro unit said, highlighting the dangers of Brazil's thriving trade in stolen oil."It was a leak of significant proportions, with an impact on the mangroves…
Petrobras Nears Terms Over TAG Pipeline Sale
Brazil’s state-controlled oil company Petróleo Brasileiro could present a new sale and purchase agreement (SPA) before the end of December for the sale of the Transportadora Associada de Gás (TAG) pipeline, after a Brazilian Supreme Court injunction in July stalled the sale.The sale of TAG, which operates natural gas pipelines in Brazil’s north and northeast…
Petrobras' Next CEO Already Working Inside Company
Petroleo Brasileiro SA's next CEO is already working within the Brazilian state-controlled oil firm and is talking with employees about business plans, four sources told Reuters.Roberto Castello Branco, named by president-elect Jair Bolsonaro's economic team to take the helm at Petrobras, is expected to take up the chief executive role next year pending approval by the company's board.However…