Venezuela's poverty rate surged in 2019 to levels unmatched elsewhere in Latin America as the once-prosperous oil producing nation's hyperinflationary economic collapse continued for a sixth-straight year, according to a new study.
The 2019-20 National Survey of Living Conditions (ENCOVI),...
(Reuters) - Petrobras is preparing to launch a tender to build Brazil’s largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production.
Petroleo Brasileiro...
(AP) — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of Texas, undisturbed by the high-stakes legal fight playing out in a federal courtroom as a result of American sanctions on...
Brazilian state oil company Petrobras says it has begun the decommissioning of the P-12 platform in the Campos Basin and will also be moving to decommission the P-07 and P-15 platforms as well as the FPSO Piranema, this year.
According...
Italian multinational oilfield services company Saipem said on Monday it has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshore...
SBM Offshore on Wednesday announced the closure of a US$600 million bridge loan facility for the financing of the construction of FPSOÂ Sepetiba, to be deployed in the Santos Basin offshore Brazil.
The facility was secured by the special purpose company...
Maersk Drilling has secured a contract for the semi-submersible rig Mærsk Developer which will be employed by PETRONAS Suriname Exploration & Production B.V. for a one-well exploration campaign in Block 52 offshore Suriname.
The contract is expected to commence in...
(Reuters) - Brazil’s Petrobras said that its platforms P-74, P-75, P-76 and P-77 located in the deepwater Buzios oil field, the largest in the world, achieved record production levels on June 27, totalling 664,000 bpd and 822,000 boed.
The oil...
(Reuters) - U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low again this week even as higher oil prices prompt some producers to start drilling again.
The U.S. oil and...
Total and its partners have announced the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the deepwater Santos Basin pre-salt offshore Brazil. With a productive capacity of 150,000 barrels...
