The partnership has decided to use hermetically sealed (canned) motors instead of traditional mechanical seals for the subsea pumping motors. This should significantly increase the efficiency and reliability of the pumping system. Increased reliability means fewer unplanned disruptions, thereby reducing subsequent production losses for the company. Additionally, these subsea pumping motors can extract a mixture of raw oil and gas from water depths of up to 4,921 feet. Subsea pumping systems are useful in pu ...

Petrobras (PBR) , a Brazilian oil and gas company, and Shearwater GeoServices, a renowned seismic acquisition company, recently signed a five-year agreement. The partnership will focus on joint research and development (R&D) efforts to revolutionize seismic processing and acquisition technologies. This agreement built upon the existing successful collaborations between the two companies, which involved Marine Vibroseis technology and Reveal software licensing. The newly established Memorandum of Understandi ...

Strategic Market Expansion: For Baker Hughes, the contract with PBR represents a significant landmark and a testament to its leadership position in the global oil and gas industry. By securing a substantial order from PBR, BKR not only solidifies its foothold in the lucrative Brazilian market but also reinforces its reputation as a trusted partner for complex offshore projects. Investment in Growth for BKR: In line with the agreement, BKR plans to expand its facilities in Macaé, Brazil, to better support th ...

Petrobras (PBR) , the renowned Brazilian oil and gas company, awarded a significant contract to Vallourec S.A., a leading provider of tubular solutions, to supply premium carbon steel tubes with Glass Reinforced Epoxy ("GRE") liners and corrosion-resistant alloy accessories.These advanced products are expected to play a key role in various offshore development wells, primarily in the pre-salt Campos Basin offshore Brazil. This new contract is an extension of a three-year agreement between the two companies ...

Strategic Alignment With Decarbonization Goals Details of the Goiânia II UTE Financial Implications and Prospects Broader Implications for the Energy Sector Conclusion Zacks Rank and Key Picks Archrock is valued at $2.99 billion. The company currently pays a dividend of 66 cents per share, or 3.45%, on an annual basis. Sunoco is valued at $5.28 billion. It is a major wholesale motor fuel distributor in the United States, distributing over 10 fuel brands through long-term contracts with more than 10,000 conv ...

The development of the Búzios 9 field is expected to boost Brazil's oil production capabilities significantly. With vast reserves of high-quality crude oil, the Santos basin has become a focal point for international energy companies looking to invest in Brazil's growing oil sector. Technological Innovation and Expertise Subsea 7's involvement in the project highlights the importance of technological innovation and expertise in the development of complex offshore oil fields. The company's extensive experien ...

Variable Speed Drives: These drives ensure optimal power consumption and energy efficiency. Petrobras (PBR) , Brazil's largest oil and gas company, has awarded a contract to Singaporean state-owned Seatrium, a leading offshore and marine specialist through an international tender. The deal, valued at approximately $11 billion, tasks Seatrium with constructing two new floating production storage and offloading (FPSO) vessels for deployment in Brazil's Santos Basin. Cutting-Edge FPSOs for Atapu and Sepia Fiel ...

The Initial Plan: Divestment of Refineries Background of the Divestment Strategy: To streamline operations and reduce debt, PBR initially announced plans to sell eight of its refineries. This move was part of a broader strategy to focus on core business areas and improve financial health. Coordinated with Brazil's antitrust watchdog, the divestment was seen as a necessary step to foster competition in the domestic refining sector and attract investment. Achievements and Challenges: By the time the divestmen ...

In a dramatic shakeup, the Brazilian government ousted Petroleo Brasileiro S.A., or Petrobras (PBR) CEO Jean Paul Prates last week. The dismissal, prompted by disagreements over dividend policies, underscores ongoing tensions between the state-controlled oil giant and President Luiz Inácio Lula da Silva's administration. This development marks the fifth change in Petrobras' leadership within three years, highlighting persistent political interf What Happened? The ousting of Prates, who served less than 18 m ...

Strategic Importance for Petrobras Supporting Offshore Drilling Operations: Petrobras's decision to launch these tenders is closely linked to its long-term offshore drilling operations and field development plans in the second half of this decade. The new vessels will be integral in supporting these operations, ensuring efficient and safe extraction of offshore resources. The OSRVs will provide crucial oil spill response capabilities, mitigating environmental risks associated with offshore drilling. Meanwhi ...