Petrobras News

US Oil Export Boom Sparks Battle to Build Texas Ports

Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…

Teekay Offshore Settles Dispute with Petrobras

Bermuda-based marine services company Teekay Offshore Partners announced that certain of its subsidiaries have entered into a settlement agreement with Petrobras with respect to various disputes relating to the previously-terminated charter contracts of the HiLoad DP unit and Arendal Spirit unit for maintenance and safety (UMS). As part of the settlement agreement, Petrobras - on behalf od its subsidiaries Petróleo Brasileiro and Petroleo Netherlands - has agreed to pay a total amount of $96 million to Teekay Offshore…

Russia's Novatek Ships First LNG Cargo to Brazil

Russian natural gas producer Novatek has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project.A statement from PAO Novatek said that its wholly owned subsidiary, Novatek Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.“Our LNG marketing strategy aims to diversify our supply geography and customer base,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board.

Aker Solutions Wins Services Contract with Petrobras

Petrobras has awarded Aker Solutions a contract to provide maintenance and modifications services for nine platforms at oil and gas fields in the Campos Basin offshore Brazil.The Campos Basin extends approximately 100,000 square kilometers. The three-year contract is valued at more than BRL 250 million and includes an option for a two-year extension.Aker Solutions will be renovating, repairing and upgrading offshore production units for Petrobras' Campos Basin Operational Unit (UO-BC).

Stena Bulk Charters Out MR Tanker Pair to Petrobras

Stena Bulk said it has signed a contract with Brazil's state-owned oil company to charter out a pair of MR product tankers for transporting refined products along the Brazilian coast. The two-year deal includes the option to extend the charters for another 11 months.The 47,000 dwt tankers, Stena Conqueror and Stena Conquest, were built in 2003 and 2004 respectively.“We have a long-standing, highly-valued relationship with Petrobras when it comes to both Suezmax and MR tankers and we are committed to continue to provide them with safe and efficient deliveries.

Egina FPSO Sails to Offshore Field

The $3.3 billion Floating Production Storage Offloading (FPSO) unit built by Samsung Heavy Industries of Korea (SHI) for the 200,000 barrels per day capacity Egina oilfield began to sail to the oilfield Sunday, reports local media.Following fabrication and integration works in Lagos, the FPSO will arrive in three days’ time at the Egina oilfield located in Oil Mining Lease (OML) 130, which is being developed at the cost of $16 billion by the French oil major, TotalT.Nicholas Terraz…

Solstad Farstad Bags Contract with Fairfield Industries

Solstad Farstad ASA (SOFF) has entered into a contract with Fairfield Industries Inc. for the CSV “Normand Tonjer”. The contract will commence in 3Q 2018 and has a duration of one year firm plus two yearly options.Fairfield will use the vessel to support their innovative worldwide ocean bottom seismic survey using node-based technology.Solstad Farstad has updated other contracts too. The key contracts in the subsea construction segment include Far Saga contract extension with Petrobras until 2Q’20…

DOF Bags Subsea Contracts

DOF Subsea has been awarded several contracts securing utilisation of personnel and vessels in the Subsea IMR Projects segment. DOF Subsea has been awarded a contract in the Atlantic region by MHI Vestas Offshore Wind for the Skandi Constructor. The contract will commence at the end of Q3 and secures utilisation until the end of 2018. The Asia Pacific region has been awarded several contracts securing ROV and diving work for Skandi Singapore through Q4 2018 for several clients in the Asia Pacific region.A month ago…

Angola LNG Plant Sells Cargo to Petrobras

Angola's sole liquefied natural gas (LNG) project has sold a cargo loading over May 12 to 13 to Brazil's Petrobras, two industry sources said on Monday.The exact price details could not immediately be confirmed but the cargo is priced off the European benchmark National Balancing Point (NBP) gas price, one of them said.The cargo will be loaded on the vessel 'Sonangol Sambizanga' and will head to Brazil, the source added.(Reporting by Jessica Jaganathan; Editing by Christian Schmollinger)

Capital Products Acquires M/T Anikitos

Capital Product Partners L.P. has announced that it has completed the previously announced acquisition of the M/T Anikitos, an eco-type MR product tanker (50,082 dwt IMO II/III Chemical Product Tanker built 2016, Samsung Heavy Industries (Ningbo) Co., Ltd.) for a total consideration of $31.5 million from Capital Maritime & Trading Corp.The Partnership funded the acquisition of the M/T Anikitos with the net proceeds received from the sale of the M/T Aristotelis, available cash and the assumption of a term loan under a credit facility with ING Bank NV of approximately $15.6 million.

BMT Upgrades Critical Monitoring Systems for Termap

BMT has completed an upgrade of Single Point Mooring (SPM) Telemetry and Control Systems (SPM-TCS) for Terminales Marítimas Patagónicas S.A. (Termap). The systems play an integral role in providing real time operational and environmental data, as well as critical control functions required to manage the integrity of the CALM (Catenary Anchor Leg Mooring) Buoys that currently operate at Termap’s Caleta Córdova and Caleta Olivia terminals. The CALM Buoys are used to offload crude oil from deposits in the San Jorge basin.

Petrobras to join Oil and Gas Climate Initiative (OGCI)

Petróleo Brasileiro SA (Petrobras) has announced its intention to join the Oil and Gas Climate Initiative (OGCI). The company revealed that its CEO, Pedro Parente, has signed a letter of engagement so that the company can become an effective member of the voluntary initiative, which aims to lead the industry response to climate change. The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change, pooling knowledge and collaborating on action to reduce greenhouse emissions.

Four Japanese Companies Join Modec in Sepia FPSO Deal

Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. "MODEC, Mitsui, Mitsui O.S.K. Lines, Marubeni Corporation and Mitsui Engineering & Shipbuilding Co have agreed to jointly invest in a long-term charter business currently promoted by MODEC, for providing a FPSO in the Sepia Area, off the coast of Brazil," said a press release. These companies have entered into related agreements for the FPSO project on January 9, 2018.

Keppel O&M to Pay US$422m to Resolve Petrobras Issue

Keppel Corporation Limited (Keppel Corporation or Keppel) today confirmed that KOM has reached a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by KOM's former agent in Brazil,  Zwi Skornicki. As part of the global resolution, KOM has accepted a conditional warning from the Corrupt Practices Investigation Bureau (CPIB) in Singapore, and entered into a Deferred Prosecution Agreement (DPA) with the U.S.

Grain Trade Boosts Brazil's Itaqui Port

Brazil's Itaqui port, the country's closest deepwater gateway to the Panama Canal, has projected a rise in 2017 shipping volumes thanks to a record grain harvest and development of a new northern farming frontier. Most of Itaqui's export cargo arrives by train instead of roads. It is the deepest public port in Brazil, and its travel time to Europe and North America is seven days shorter than from rivals in the South. Itaqui can handle minerals, grains, fertilizers, fuel and woodpulp consignments.

Brazil's 20% Ethanol Import Tax Rule Takes Effect

New rules governing Brazil's ethanol imports, which slap a 20 percent penalty for volumes above a tax-free import quota, took effect on Friday, authorities said. Brazil's foreign trade chamber Camex said in an official written resolution that the rules will be valid for two years. It is the first time that Brazil has taxed ethanol imports, with the government reversing its position of avoiding taxes on the biofuel's trade, following complaints from local producers about rising imports.

Brazil to Stop Beaching Ships in South Asia

Brazilian authorities plan to implement legislation to help prevent that vessels owned by exporters such as Petrobras and Vale wind up on South Asia's beaching yards, Bloomberg reported. The report said that earlier this month, authorities decided to develop a legal framework to ensure former Brazilian ships don’t end up with recyclers notorious for using dirty and dangerous methods, federal environmental watchdog Ibama said by email. Brazilian companies could face fines of as…

Petrobras Authorized to Export Idle LNG Cargoes

Brazil's Petroleo Brasileiro SA has been authorized to export idle liquefied natural gas (LNG) in the spot market, according to the Wednesday issue of the official gazette. According to the text, Petrobras has been given the green light to export up to 6.6 million cubic meters, assuming this would not result in supply problems for the domestic market. As a state-controlled company, some of Petrobras' commercial strategies require energy ministry authorization. Petrobras operates three regasification terminals in Brazil…

Brazil Criticized for Dumping Toxic Ships in South Asia

NGOs and trade unions in Brazil have criticized the state-run Petrobras’ end-of-life fleet management by dumping toxic ships on South Asian beaches. The Brazilian Confederação Nacional dos Trabalhadores em Transportes Aquaviários e Aéreos, na Pesca e nos Portos (CONTTMAF) trade union federation and its member SINDMAR (Sindicato Nacional dos Oficiais da Marinha Mercante) have recently criticized the shipbreaking practices of Transpetro, the oil and gas transportation subsidiary of the Brazilian petroleum corporation Petrobras, majority-owned by the State.

Flores Named VP at NETSCo

Engineering, design and maritime consulting services provider NETSCo, Inc. has recently promoted Jan Flores to vice president, and welcomed new additions Trish McIntyre as engineering manager and Matt Davidson as junior naval architect/marine engineer. “In recent years, Jan has been instrumental in the success and growth of NETSCo and I am excited to promote him to this important position,” said Rich Mueller, founder, president and CEO of NETSCo. “Jan’s experience in taking our company goals and vision to new levels has strengthened our status as an industry leader.

Houston Ship Channel Re-opens to Some Vessel Traffic

The Houston Ship Channel re-opened to some vessel traffic on Tuesday afternoon, the U.S. Coast Guard said, after an early morning tanker fire prompted closure of the waterway. The U.S. Coast Guard Houston Vessel Traffic Service said it would commence with tow vessel transit outbound from Old River and San Jacinto River. That would be followed by inbound movements, it said. The Houston Ship Channel links the busiest U.S. petrochemical port to the Gulf of Mexico. Four Houston-area…

Weak Oil Pushes SBM Offshore to Axe More Jobs

SBM Offshore's first-half results lagged analysts' expectations on Wednesday as challenging conditions persisted in the oil industry and the Dutch oil services company announced an additional 250 job cuts. It said it did not expect a full recovery in its business until 2018, after its revenues slid 40 percent in January-June. Oil and gas producers slashed their budgets in the past two years as crude oil prices tumbled, which in turn dented revenues and profits at oilfield service providers.

Petrobras to Name Silva to New Top Strategy Post

Brazil's state-led oil company Petroleo Brasileiro SA plans to appoint Nelson Silva, the former head of BG Plc in Brazil, as chief of strategy and management, a newly created position on its senior management committee, company sources told Reuters.   Silva came to Petrobras ealier this month as an advisor to new Chief Exectutive Pedro Parente, who was apointed by Brazil's interim-Presdient Michel Temer to cut the company's massive debt and find ways to revive investment.     (Reporting by Rodrigo Viga Gaier; Writing by Jeb Blount; Editing by Richard Chang)

2016 and Two FPSOs in US GoM: The 20 Year Saga

Peter Lovie’s Chronology of the FPSO’s difficult struggle to viability in the U.S. Gulf of Mexico is a fascinating journey through time and the oil industry itself. 2016 saw the arrival of the second FPSO in the US Gulf of Mexico. Despite the long prominence of the US Gulf of Mexico in pioneering in the offshore world, FPSOs have been curiously slow in arriving despite being the most used floating production system in the rest of the world. Tracing what went on from securing regulatory approval in principle to be able to use FPSOs in GoM…

Petrobras Announces new President, Management Changes

Petrobras reports that it has received the letter of resignation of Mr. Aldemir Bendine the functions of a member of the Board of Directors and President of the Company today. In addition, Mr. Bendine also resigned today, the office of member of the Board of Directors of Petrobras Distribuidora - BR. In view of the resignation, the Board held a special meeting that has elected Pedro Pullen Parente engineer as a member of the Board of Petrobras today. The Council at the same meeting also elected Mr.

Nigeria: What are the Implications for Tanker Demand?

Nigeria’s crude oil production and exports have been hit by severe outages as a result of attacks on oil infrastructure by rebel fighters in the Niger River Delta. Various sources report that Qua Iboe Terminal has shut down operations until further notice. All tanks on the facility were emptied of crude, operations have ceased completely and all personnel have been evacuated from the terminal, which is operated by ExxonMobil. Qua Iboe is Nigeria’s largest crude oil stream and exports usually more than 300,000 barrels per day (b/d).