NGO Forum

From: LiveMint and The Wall Street Journal

Pallavi Pengonda

 

Bharat Petroleum Corp. Ltd (BPCL) announced on Tuesday that Petroleo Brasileiro SA (Petrobras), made a new oil discovery in a Brazilian block in which BPCL and Videocon Industries Ltd hold a 20% stake each. Although resource potential details are not available, in general, any discovery is considered positive. BPCL’s stock increased marginally on Tuesday, a day when the BSE Sensex was trading lower. Analysts believe that the chances of success on these fields does increase post discoveries.

From: Shipping Times

£100m contract for seven drillships at Atlantico Sul, Brazil

Rolls-Royce, last week announced an order worth more than £100 million to supply integrated power and propulsion systems for seven offshore drilling vessels in Brazil.

The ships will be built at the Atlântico Sul shipyard for Brazilian oil company Petrobras. Rolls-Royce will equip each of the seven vessels, which will satisfy local content requirements, with six large thrusters and six Bergen diesel generator sets. Together, the systems will be used to propel the vessels to and from drill sites and to accurately maintain their positioning during drilling operations.

From: Financial Times