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Sete Brasil Charts Growth Path On Back Of Latest Rig Order
Fresh from winning one of the world's single-largest orders for drilling rigs, investment company Sete Brasil plans to spend $27 billion over the next eight years to take advantage of Brazil's development of recently discovered offshore oil fields.
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Petrobras 4Q Net Plunges, Challenges New CEO
Petrobras's profit plunged 52 percent in the fourth quarter, frustrating expectations the company can control the cost of an ambitious expansion plan and underlining the challenges faced by new chief executive Maria das Graça Foster.
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Review Review: The Latin American Oil Industry
The potential of the Latin American oil industry is slowing but surely coming to fruition. Although all roads appear to lead to growth, for producers and explorers alike, a number of sizeable hurdles remain. And it is these hurdles which keep the region's growing importance in the oil market very much a medium-to-long term story.
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Brazil hits record crude production
Brazil's output of crude reached record levels in 2011 as new production came onstream from the so-called subsalt oil fields in the Santos Basin, its National Petroleum Agency said on Thursday according to a report.
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Ohio quake 'linked to wells': expert
A seismological expert has claimed that an earthquake on New Year's Eve in Ohio did not occur naturally and may have been caused by high-pressure liquid injection at wells in the US state's shale play, according to a report.
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Panoro completes farm-out of Brazil blocks to Vanco
Panoro Energy ASA has completed farm-out of offshore Brazilian blocks BM-S-63, BM-S-71, and BM-S-72 in the offshore Santos basin to Vanco Brasil Exploração e Produção de Petróleo e Gas Natural Ltda.
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Innovation and investment propel Petrobras toward deeper waters
President/CEO José Sergio Gabrielli de Azevedo offers insight into company's plans
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EMGS and Schlumberger join forces
Norway's EMGS and oilfield services giant Schlumberger have forged a partnership for joint marketing of their respective services in the marine electromagnetic field, ending a patent row between the two companies.
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Chevron 'committed' to Brazil
Chevron Corp will stay the course in Brazil even as that country said it has filed a massive $11 billion lawsuit related to an offshore oil spill, a top company executive said on Thursday according to a report.
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PGS eyes newbuilds in 2012
Norwegian seismic contractor Petroleum Geo-Services (PGS) has earmarked $200 million for newbuilds next year on expectations of a market uptick, despite flagging a weaker fourth quarter than anticipated.
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Sinopec favorite to buy BG Brazil oil stake: source
China's Sinopec is the favorite to buy part of BG Group's (BG.L) stake in some of Brazil's most promising offshore oil areas, a source said, increasing its holdings in a fast-growing frontier believed to hold enough oil to supply China for 15 years.
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Brazil sues Chevron, Transocean for $11bn
Brazil's federal prosecutor on Wednesday said it wants Chevron and Transocean to shut down operations in Brazil as it sues the two firms for 20 billion Brazilian reais ($11 billion) in damages allegedly caused by an oil spill in early November, a report said.
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Petroecuador plans Amazon clean-up
Ecuador's state oil company Petroecuador announced plans on Monday to clean up parts of the Amazon jungle at the heart of a lengthy legal battle in which Chevron was ordered to pay $18 billion damages.
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Petrobras looks to southern Argentina
Petrobras officials met this month (november) with officials in the southern Argentinean province of Santa Cruz, with the Brazilian state giant saying it could invest up to $800 million over the next four years to develop gas reserves there, officials said.
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Groen orders two newbuild seismic support vessels
Groen has ordered two newbuild seismic research and support vessels from Maaskant Shipyards. These will be the first ever such vessels built by the shipyard.
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SeaBird sinks deeper into the red
Norwegian seismic player SeaBird Exploration plunged further into the red during the third quarter as impairment charges hit its bottom line.
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Petrobras Has ‘Many' Offers for $13.6 Billion of Assets
Jose Sergio Gabrielli, chief executive officer of Petroleo Brasileiro SA, talks about the outlook for oil prices and buyer interest in the $13.6 billion assets Petrobras plans to sell. Gabrielli, speaking on Bloomberg Television's "InBusiness With Margaret Brennan," also discusses the global economy and Petrobras's oil output.
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Doubts emerge on Petrobras plan
Expectations that Brazilian state-run energy giant Petrobras will post a decline in third-quarter net profits are raising questions about the company's ability to pull off its $224.7 billion investment plan through 2015, a report has said.
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