Petrobras’ Safety Issues in Campos Basin May Cause More Work Stoppages

RIO DE JANEIRO, Feb 23 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA could face new production stoppages on platforms in the Campos Basin if it does not resolve lingering safety issues, the Folha de S. Paulo newspaper reported on Sunday. The company, best known as Petrobras, has improved safety standards in its offshore fields in the last two years but … [Read more...]

GE Inks Record Contract With Petrobas

General Electric Co. (GE) and Brazilian energy company Petroleo Brasileiro (PBR, PETR4.BR) have signed the world's largest subsea wellhead production contract, worth nearly $1.1 billion, as GE looks to boost development of the oil and gas sector in Brazil. The contract, which builds upon an existing partnerships between the two companies, includes the delivery of about 380 … [Read more...]

Petrobras Launches Campaign to Get Campos Basin Back on Track

BRASILIA--Brazil's state-controlled oil company Petrobras (PBR, PETR4.BR) Friday launched a program to increase efficiency at its operations in the offshore Campos basin, the company said. According to the company, the objective of the effort is to restore its operational efficiency in the area to historically high levels of 90%, and assure production foreseen in the … [Read more...]