Petrobras

The announcements are part of the company’s divestment strategy to reduce debt and improve capital.

Shell and Chevron lead the pack in a slew of Q2 losses with $18.1 billion and $8.3 billion, respectively. ExxonMobil, ConocoPhillips, Royal Dutch Shell, Petrobras, and Repsol also posted losses. The tally of these global majors’ losses in a single quarter tops $30 billion.

The Búzios-5 production system is planned to include the interconnection of 15 wells to a floating production, storage, and offloading vessel in two phases.

Atlas and Fênix, also from Petrobras, are the two largest supercomputers in Latin America.

Petrobras has taken a 65.3-billion Brazilian real ($11.2-billion) impairment on its exploration and production (E&P) assets, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent.

Operations during the COVID-19 pandemic and actions to decarbonize operations are among the highlights.

Four recent deepwater offshore discoveries show exploration is not dead, it is just concentrated offshore.

OTC announces Distinguished Achievement Awards for 2020.

P-68 is Petrobras’ fourth FPSO to begin operations this year following the startups of P-67 at the Lula field and P-76 and P-77 at the Buzios field.

Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.