Petrobras is making progress in its cost-cutting drive with offshore suppliers following three months of tough negotiations.
The Brazilian company summoned suppliers to the negotiating table in June, setting up sectorial committees to seek reductions in dayrates coupled, in some cases, to extended charters.
These negotiations are starting to bear fruit in the rig sector, with dayrate reductions running into “several tens of thousands of dollars”, according to one source involved in the talks.
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