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PODCAST: First Steel and Opec Cuts

This week on The Bit we get an expert's opinion on Opec's shock production cut, plus new floater projects in Brazil and a trip to McDermott's yard in Mexico.


First we talk to Andrew Slaughter, the executive director of Deloitte's Centre for Energy Solutions, about whether Opec's announcement is for real.

Then Gareth Chetwynd calls in from Rio to tell us about a host of new FPSOs Petrobras plans to build for Brazil's deep-water.

And Kat Schmidt saw McDermott cut first steel for Pemex's Abkatun platform at the contractor's Altamira yard in a restive Mexican border region.

A basket of malfeasance in the oil patch, and more - including a tribute to the late "Tiger Mike" Davis - this week on The Bit.

Related Content:

  • McDermott International closed its longtime Morgan City fabrication yard in Louisiana and consolidated operations in Altamira, Mexico.
  • McDermott hopes to eventually chase deep-water work at Altamira, but Mexican waters look to hold early promise.
  • Even with Libra and Sepia in the pipeline, Petrobras will put to market tenders for two additional floating production vessels to come online by the end of the decade.
  • Lots of companies were busted this week: Weatherford has to pay $140 million for alleged accounting fraud; Chesapeake in being investigated by the US Department of Justics; and Helmerich & Payne must pay $72 million to settle a case involving an injured worker in New Mexico. There was also a Ponzi schemer taken down.
  • Rest in peace Tiger Mike.

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Music by RDG. Check out RDG's Soundcloud page.