“Under our analysis, we see Brazilian production starting to decline around 2029-30,” Welligence’s Fagundes said. “Given how long it takes to develop a big field, [Petrobras] needs to start finding new reserves.”
Saipem said there had been “alleged irregularities in the award”. The CGU amended its previous ban, from December 2022, with this new order of a two-year suspension.
The rig has repriced from a rate in the “low $200,000s”, the executive said. Now, it is priced at "an effective day rate in the high $400,000s”. The price suggests a day rate of around $488,000.
Petrobras signed a memorandum of understanding (MoU) with Shell in March 2023, on the sidelines of CERAWeek.
“One of our competitors bid pushed the pricing up to a point where probably, our clients thought that they would look at the schedule and the timing and the constraints of that project.”
Brazil’s oil giant Petrobras was hit by a “rampant” though “ineffective” campaign to destabilize its current management over the last week, Chief Executive Officer Jean Paul Prates said Sunday.
In May, reports suggested Adnoc and Apollo had offered $7.6 billion for Braskem.
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
Petrobras and Equinor have signed a letter of intent that will see the two assess the potential build-out of up to seven new offshore wind projects.
Deputy Prime Minister Heng Swee Keat said that Singapore could review a decision not to prosecute key figures at Keppel Offshore & Marine Ltd. over a major bribery case involving payments to Brazil’s state-run energy company Petrobras if there’s new evidence that warrants doing so.
Last year was a bumper one for the global oil and gas exploration sector as it enjoyed its strongest 12 months in more than a decade.
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Singapore’s Corrupt Practices Investigation Bureau (CPIB) has issued stern warnings to six ex-senior management staff of Keppel Offshore & Marine for their alleged bribery involving contracts with Brazil’s state-owned oil company Petrobras.
President-elect Luiz Inacio Lula da Silva has selected a senator and former Petrobras official to lead Brazil’s state-controlled oil giant with the aim of turning it into a renewable energy powerhouse.
"For years, Honeywell neglected to implement sufficient internal accounting controls to mitigate against known corruption risks in countries like Brazil and Algeria," said Charles Cain, Chief of the SEC Enforcement Division’s FCPA Unit.
Shareholders have pocketed record payouts from companies around the world as oil companies handed massive dividends to their owners.
Singapore’s Sembcorp Marine, through its subsidiary Estaleiro Jurong Aracruz (EJA), said it has crossed another significant operational milestone with the completion of P-71, its second floating, production, storage and offloading (FPSO) vessel project for Tupi.
Sembcorp Marine (SGX: S51) has landed a $3 billion contract for a newbuild FPSO for Petrobras.
Keppel Offshore & Marine's (Keppel O&M's) subsidiary, Keppel Shipyard, has won a tender from Brazil’s national oil company, Petrobras, to carry out the engineering, procurement and construction (EPC) of P-83, a floating production, storage and offloading vessel (FPSO), in a deal worth about US$2.8 billion.
Keppel Offshore and Marine's (Keppel O&M's) (SGX:BN4) wholly owned subsidiary, Keppel Shipyard, has won an international tender from Brazil’s national oil company, Petroleo Brasileiro S.A (Petrobras), for the engineering, procurement and construction (EPC) of P-80, a floating production, storage and offloading vessel (FPSO) in a deal worth about US$2.9 billion.
Offshore drilling giant Transocean (NYSE: RIG) has announced two new contract wins totalling more than $1 billion.
Lofty oil prices and robust sales delivered Petrobras another quarter of blockbuster results, which President Jair Bolsonaro has previously bashed as he contends with costly fuel ahead of presidential elections in October.
Petrobras has selected Jose Mauro Coelho to become the next chief executive officer of Latin America’s largest oil producer at a time high fuel prices have put it under political scrutiny.
BW Offshore has signed a deal to recycle its BW Cidade de São Vicente at a yard in India, in compliance with the Hong Kong International Convention.
TechnipFMC has won a “large” engineering, procurement, construction and installation (EPCI) deal with Petrobras for the Buzios development off Brazil.