(Investing)– Brazilian oil workers union FUP said on Monday it plans to accept a counteroffer from state-run company Petrobras for a labor deal, paving the way to end a week-long strike. In a statement published on social media, FUP said a majority of its board had approved signaling it would accept the oil firm’s counteroffer, which still requires approval from workers.
(Investing)– Brazilian state-run oil firm Petrobras has seen no impact on its output of oil and petroleum products since the start of a planned strike by some workers on Monday, it said in a statement. The firm said it had adopted contingency measures to ensure operation continuity, adding that market supply is “guaranteed”. Labor talks are ongoing, Petrobras said. Petrobras and
(World Oil) – Brazilian oil major Petrobras announced a 2% decrease in its next five-year investment plan to $109 billion, putting dividend payments in doubt at a time of lower oil prices. Shares fell. The state-controlled oil producer is caught between the government’s desire to grow the economy – especially ahead of a 2026 presidential election – and investors who demand high
(World Oil)– Transocean has secured approximately $89 million in new firm backlog after operators in Brazil, Norway and Romania exercised contract options on three of its floating rigs, the company announced. In Brazil, Petrobras exercised a 90-day option on the Deepwater Mykonos, continuing the ultra-deepwater drillship directly into its next campaign. The extension is expected to contribute about $33 million to backlog.
(World Oil) – Petrobras has confirmed another oil discovery offshore Brazil, identifying high-quality post-salt crude in the Sudoeste de Tartaruga Verde block in the Campos basin. The find further reinforces Brazil’s momentum in offshore exploration and Petrobras’ continued success in mature deepwater basins. The discovery was made at well 4-BRSA-1403D-RJS, located 108 km offshore Campos dos Goitacazes at a water depth
(Oil Price)– Petrobras will be paying higher dividends for the third quarter compared to the second quarter as production and earnings jumped sequentially, the Brazilian state-owned oil giant said. Petrobras booked a net income of $6 billion for the third quarter, up by 2.7% on the year and a 27.3% jump on the quarter, despite the decline in oil prices. Higher production
(World Oil)– Brazil’s state-controlled energy company received approval to explore for oil near the mouth of the Amazon River, capping a yearslong standoff with environmental regulators Petroleo Brasileiro SA said in a filing Monday that it received permission to drill one exploratory well in the Foz do Amazonas basin. “The drill rig is at the well site and drilling is
(World Oil)– Halliburton has been awarded multiple deepwater contracts by Petrobras to deliver vessel stimulation, intelligent completions, and safety valve systems across key offshore fields in Brazil, following a competitive tender process. Under the new agreements, Halliburton will deploy its SmartWell® intelligent completion technology in the Búzios field to enable real-time reservoir management and enhance production optimization. The company will
(Oil Price) – Petrobras moved a step closer to obtaining a license to drill in an environmentally sensitive offshore region in the Amazon basin after the Brazilian environmental agency approved test assessments made by Brazil’s state oil and gas giant in the area. Ibama, the environmental agency responsible for issuing licenses for drilling, has approved a pre-operational assessment, the so-called emergency
(World Oil)– Colombian oil producer Ecopetrol SA is pursuing oil and gas deals in Brazil that could include a cluster of onshore Petrobras fields in the northeastern state of Bahia. “We believe that Brazilian onshore has great potential, especially in natural gas,” Jorge Martínez, the head of Ecopetrol’s operations in Brazil, said in an interview from the company’s offices in
(World Oil) – Baker Hughes has secured a multi-year agreement with Petrobras to extend deployment of the Blue Marlin and Blue Orca stimulation vessels, supporting production optimization across Brazil’s offshore pre- and post-salt fields. Awarded through an open tender, the contract also covers chemical supply and services, reinforcing Baker Hughes’ Mature Assets Solutions strategy aimed at maximizing brownfield recovery and extending field life. The Blue Marlin and Blue
(World Oil) – Weatherford International plc has been awarded a three-year, $147 million contract by Petrobras to deliver Tubular Running Services (TRS) across the company’s offshore drilling operations in Brazil. The contract, secured through an open tender, highlights Petrobras’ continued reliance on Weatherford’s portfolio of TRS technologies to improve safety, efficiency, and reliability in well construction. Under the agreement, Weatherford
