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Big Oil Is Heading to Rio With $50 Crude No Longer a Nightmare

October 26, 2017 by Bloomberg

Big Oil Is Heading to Rio With $50 Crude No Longer a Nightmare

By Sabrina Valle and R.T. Watson (Bloomberg) - Leaner and fitter after three years of low prices, Big Oil is descending on Rio de Janeiro to join a deep-water bonanza that has already helped state-controlled Petrobras emerge from financial heartache. Output is surging at Brazil’s so-called pre-salt region. This decade it has gone from nothing to 1.3 million barrels a day. … [Read more...]

How One Lone Oil Rig Embodies the Brazil Boom That Never Was

October 29, 2015 by Bloomberg

How One Lone Oil Rig Embodies the Brazil Boom That Never Was

  By Sabrina Valle and Peter Millard (Bloomberg) -- Oil majors had big plans for Brazil, but you can’t tell by looking at the country’s offshore drilling these days. After crude was first struck in the pre-salt formation in the seas off Rio de Janeiro, producers including BP Plc and Total SA were ready to flock to Brazil with billions of dollars in investments. … [Read more...]

Brazil’s Oil Auction Today Was a Total Bust

October 7, 2015 by Reuters

Brazil’s Oil Auction Today Was a Total Bust

  By Jeb Blount, Marta Nogueira and Stephen Eisenhammer RIO DE JANEIRO, Oct 7 (Reuters) - Brazil attracted little interest in a new oil and gas exploration rights auction on Wednesday as state-led Petrobras and other major oil companies declined to bet on an industry in turmoil and an economy in recession. The auction was seen as a test for how Brazil's oil … [Read more...]

Petrobras Said to Interrupt Drilling at Biggest Brazil Discovery

February 10, 2015 by Bloomberg

Petrobras Said to Interrupt Drilling at Biggest Brazil Discovery

By Peter Millard and Sabrina Valle (Bloomberg) -- Petroleo Brasileiro SA halted drilling at its largest oil discovery in deep waters, two people with knowledge of the matter said, underscoring the technical challenges facing the company’s new management team. An unplanned procedure to retrieve equipment stopped work for more than a week at a well in Libra, the people … [Read more...]

Brazil Oil Union Plans Indefinite Strike

October 10, 2013 by Reuters

Brazil Oil Union Plans Indefinite Strike

SAO PAULO, Oct 10 (Reuters) - Brazil's national oil worker's federation could start an indefinite strike on Oct. 17 if a pay dispute with state-run oil company Petroleo Brasileira SA is not resolved. The workers have rejected Petrobras' proposal offering a raise between 1.17 percent and 1.5 percent while workers want 5 percent, according to a statement on the federation's … [Read more...]

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  Featured

Panama Canal Tugboat Captains Locked in Heated Dispute with Management Over Safe Manning of Tugs

Panama Canal Tugboat Captains Locked in Heated Dispute with Management Over Safe Manning of Tugs

Butane Leaks After Very Large Gas Carrier and Tanker Collide Singapore -AIS Replay

Butane Leaks After Very Large Gas Carrier and Tanker Collide Singapore -AIS Replay

MAN Diesel & Turbo to Supply Engines for MSC’s Record-Breaking Megaships

MAN Diesel & Turbo to Supply Engines for MSC’s Record-Breaking Megaships

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

IMO Reaches Deal to Cut CO2 Emissions from Ships

IMO Reaches Deal to Cut CO2 Emissions from Ships

  Video

Incident Video: Tanker’s Hull Punctured by Floating Crane in Iraq

Incident Video: Tanker’s Hull Punctured by Floating Crane in Iraq

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Caught on Video: MSC Cruise Ship Crashes Into Dock in the Caribbean

Caught on Video: MSC Cruise Ship Crashes Into Dock in the Caribbean

  Latest News

Expanded Panama Canal Sees Three LNG Carrier Transits in Single Day

Two Injured in Rescue Boat Drill on B.C. Ferry

Russian Billionaire to Lose $492 Million Expedition Yacht in Divorce

  Corporate News

Foss Executive Honored by Coast Guard

Damen Dredging Equipment launches new DOP Dredger Series

Samskip brings Rotterdam into Nor Lines’ flexible LNG-powered service network

ABS Delivers Continued Solid Performance and Remains Well-Positioned for Future, Reports Chairman, President and CEO

Avatars by Sterling Adventures
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