BASF's oil and gas subsidiary Wintershall on Thursday said it would build up its presence in the Brazilian offshore oil sector this year where it won exploration licences in 2018. "It is part of our growth course that we are also active in new regions, and Brazil offers great potential," said chief executive Mario Mehren... Continue Reading →
Petrobras Mothballing of the fertilizer plant in Bahia
Rio de Janeiro, March 21, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the Press Release of 02/01/2019, informs that it obtained a favorable decision, reversing the injunction that suspended the mothballing of the fertilizer plant in Bahia (Fafen-BA). In this way, the company will follow the procedures for mothballing the unit. The... Continue Reading →
BP and the pre-salt
British oil giant BP expects to start its first exploration campaign in the pre-salt phase between 2021 and 2022, BP Energy president Adriano Bastos in Brazil said yesterday. According to him, the idea is to start drilling at Pau Brasil, in the Santos Basin. In the last two years, the company invested R $ 1.47... Continue Reading →
Brazil to present plan to overhaul natural gas sector by June: minister
Brazil Mines and Energy Minister Bento Albuquerque said on Thursday that the government will present a program for overhauling the natural gas sector by June, a move aimed at lowering energy costs in the country. The program will be called the “New Gas Market” and is separate from the “Gas for Growth” program pursued under... Continue Reading →
Brazil’s ex-President Temer arrested, threatening fiscal reform
Brazil’s former President Michel Temer was arrested on Thursday in an investigation of alleged graft in the construction of a nuclear power plant, prosecutors said, threatening to delay debate over the government’s ambitious fiscal reforms. Temer was president from 2016 to 2018, taking office after the impeachment of Dilma Rousseff, for whom he served as... Continue Reading →
CNPE cuts six blocks from the 16th round
The National Energy Policy Council (CNPE) reduced the offer of the 16th round to 36 blocks from 42, cutting areas in the Campos and Santos Basins. The round, formed by offshore areas in deep and ultra deep waters, is scheduled for the fourth quarter of this year. In the Campos Basin, blocks C-M-602, C-M-604,... Continue Reading →
Wintershall sets new production record ahead of pending DEA merger
Wintershall CEO, Mario Mehren, at the Annual Press Conference for Wintershall said: “In 2018 we set a production record with daily production of up to 500,000 barrels of oil equivalent (BOE). With a crude oil and natural gas production of 171 million BOE in 2018, Wintershall has once again significantly surpassed the record figure –... Continue Reading →
Brazil central bank holds rates, notes balanced inflation risks
Brazil’s central bank kept its benchmark interest rate at a record low 6.50 percent on Wednesday, as expected, while noting that recent economic data has been weaker than expected and that inflation risks are no longer skewed to the upside. The bank’s nine-member monetary policy committee, known as Copom, voted unanimously to keep the benchmark... Continue Reading →
Petrobras Board of Directors elects Chief Refining and Natural Gas Executive Officer and approves reappointment of the other executives
Rio de Janeiro, March 20, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held today, elected Mrs. Anelise Quintão Lara for the position of Chief Refining and Natural Gas Executive Officer and approved the reappointment of the CEO Roberto Castello Branco and the other Executive Officers of... Continue Reading →
Petrobras – CARF decision related to tax collection on remittances abroad for payments of vessel charters
Rio de Janeiro, March 20, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that the Administrative Board of Tax Appeals (CARF) pronounced, on this date, by a casting vote, an unfavorable decision regarding fiscal administrative proceeding that addresses the collection of CIDE (base-year 2009) on remittances abroad for the payment of vessel charters, in the... Continue Reading →
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