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Ford's Brazil shutdown highlights automakers' woes with excess capacity

31 mins ago DieselGasoil Comments Off on Ford's Brazil shutdown highlights automakers' woes with excess capacity
SAO PAULO (Reuters) – Ford Motor Co’s oldest factory in Brazil, slated for closure later this year, was a giant among auto plants, occupying a sprawling 12 million square feet (111.5 hectares), bigger than many of the automaker’s U.S. facilities. The Ford logo is seen at the Ford oldest Brazil plant after company announced its Read More

TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brasil

2 hours ago DieselGasoil Comments Off on TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brasil
2/21/2019 Map: TGS Campos Basin, Brazil. HOUSTON — TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brazil. The survey will cover approximately 11,200 km2 within the granted permit area and will be acquired by Shearwater with the Amazon Warrior. The survey will provide contiguous 3D coverage over the highly prospective Read More

Venezuela closes border with Brazil, may do the same at Colombia border – Maduro

3 hours ago DieselGasoil Comments Off on Venezuela closes border with Brazil, may do the same at Colombia border – Maduro
Starting Thursday evening, Venezuela is closing its border with Brazil, President Nicolas Maduro has announced. He added the same measure may apply to the border with Colombia, though he does not want to order it. The Venezuelan military was ordered to enforce the travel ban in airspace and on the sea until further notice, Maduro Read More

Brazil's Vale to pay $3,200 to residents to compensate for dam burst that killed 300

7 hours ago DieselGasoil Comments Off on Brazil's Vale to pay $3,200 to residents to compensate for dam burst that killed 300
A view of a collapsed tailings dam owned by Brazilian mining company Vale SA, in Brumadinho, Brazil February 13, 2019. REUTERS/Washington Alves SAO PAULO (Reuters) – Miner Vale SA said on Thursday it would pay adult residents in the Brazilian town of Brumadinho a total of 12,000 reais ($3,227.02) as compensation for the damage from Read More

New methanol plants expected to increase industrial natural gas use through 2020

7 hours ago DieselGasoil Comments Off on New methanol plants expected to increase industrial natural gas use through 2020
February 21, 2019 Source: U.S. Energy Information Administration, based on data from S&P Platts New methanol plants under development in the United States are increasing natural gas consumption in the industrial sector. Methanol plants are among the most natural gas-intensive industrial end users and require natural gas both as a feedstock and for process heat. Read More

Exclusive: Brazil's Odebrecht to propose bondholder losses of over 70 percent – sources

23 hours ago DieselGasoil Comments Off on Exclusive: Brazil's Odebrecht to propose bondholder losses of over 70 percent – sources
The corporate logo of the Odebrecht SA construction conglomerate is pictured at its headquarters in Sao Paulo, Brazil August 3, 2018. REUTERS/Paulo Whitaker/File Photo SAO PAULO (Reuters) – Brazilian conglomerate Odebrecht SA next week will ask its bondholders to accept losses of more than 70 percent from their bonds’ face value as part of a Read More

Brazil's burgeoning crude production is OPEC’s next headache

1 day ago DieselGasoil Comments Off on Brazil's burgeoning crude production is OPEC’s next headache
By Sabrina Valle and Javier Blas on 2/20/2019 RIO DE JANEIRO and LONDON (Bloomberg) — When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market.  The mammoth facility — long Read More

Spectrum announces Argentine Colorado Basin Multi-Client 2D Seismic Survey

2 days ago DieselGasoil Comments Off on Spectrum announces Argentine Colorado Basin Multi-Client 2D Seismic Survey
Spectrum is commencing a new 20,000 km 2D survey in Colorado and Salado basin offshore Argentina.  This new program ties with Spectrum’s existing 35,000 km survey that was acquired in 2017 for the ongoing first offshore licensing round The survey is done in cooperation with BGP utilizing the vessel BGP Pioneer. Data is being acquired Read More

Ford to close oldest Brazil plant, exit South America truck biz

2 days ago DieselGasoil Comments Off on Ford to close oldest Brazil plant, exit South America truck biz
SAO PAULO/DETROIT (Reuters) – Ford Motor Co said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. FILE PHOTO: New Ford trucks are Read More

Ford to close oldest plant in Brazil, costing 2,700 jobs

2 days ago DieselGasoil Comments Off on Ford to close oldest plant in Brazil, costing 2,700 jobs
SAO PAULO/DETROIT (Reuters) – Ford Motor Co said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. FILE PHOTO: New Ford trucks are Read More