(Bloomberg) --Could the era of cheap oil supply be gone for good? That’s the conclusion of some of the biggest commodities desks on Wall Street, where banks have been lifting their long-term price forecasts, often by $10 or more. While the U.S. shale boom brought about a “lower-for-longer” mantra, the market is now fixated on... Continue Reading →
PETROBRAS REQUESTS DRILLING LICENSE FOR BLOCKS IN THE FOZ DO AMAZON BASIN
Petrobrás announced that it has asked the Environmental Licensing Board of the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) for an operating license for the offshore drilling activity in blocks FZA-M-57, FZA- M-86, FZA-M-88, FZA-M-125 and FZA-M-127, in the Foz do Amazonas Basin. Also according to the oil company, the Environmental Impact... Continue Reading →
Petrobras Probe Shows How Glencore’s Chemoil Paid Bribes for Ship Fuel
(Bloomberg) -- Brazil’s years-long Carwash probe into payoffs to secure business with Petroleo Brasileiro SA in the early 2010s revealed how a unit of commodities-trading giant Glencore Plc allegedly secured maritime fuel supply contracts. (Bloomberg) -- Brazil’s years-long Carwash probe into payoffs to secure business with Petroleo Brasileiro SA in the early 2010s revealed how... Continue Reading →
Petrobras on agreement with ANP
Petróleo Brasileiro S.A. – Petrobras informs that, on 10/14/2021, its Executive Board analyzed and approved the submission to the Board of Directors of a proposal to enter into an Agreement between Petrobras and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) related to royalties on the operation of the Shale Industrialization Unit (SIX),... Continue Reading →
Petrobras on E&P teaser in Campos Basin – Catuá Field,
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake (100%) in the Catuá Field, belonging to the BC-60 Exploratory Block, located in the Campos Basin, in the state of Espírito Santo. The teaser, which includes key information about the opportunity, as well... Continue Reading →
World Bank sees ‘significant’ inflation risk from high energy prices
(Reuters) - Energy prices are expected to inch up in 2022 after surging more than 80% in 2021, fueling significant near-term risks to global inflation in many developing countries, the World Bank said in its latest Commodity Markets Outlook on Thursday. The multilateral development bank said energy prices should start to decline in the second... Continue Reading →
First Sangomar well drilled offshore Senegal
(OM) Woodside Energy has issued progress reports on its development projects in West Africa and Australia. Offshore Senegal, the first development well for the Sangomar field development Phase 1 has been drilled and completed, including installation of the xmas tree. It was also the first horizontal production well drilled in Senegal, the company said. Phase 1 was recently... Continue Reading →
Schlumberger quarterly profit rises as oilfield services demand recovers
(Reuters) - Schlumberger NV (SLB.N) reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for the company's oilfield services and related equipment from producers looking to capitalize on a rebound in crude prices. Global crude prices rose 4.5% in the September quarter and have climbed nearly 64% since the start of 2021 on... Continue Reading →
Crude’s forward price curve suggests $100 oil is on the way
(Bloomberg) --Time will tell which one is out of sync: Is it a forward oil curve that yields 11% on an annualized basis for investors, or is it a headline price of West Texas Intermediate crude near $83 a barrel? Because if there’s one thing over which there’s growing consensus in the oil market, it’s... Continue Reading →
Brazil stocks and currency plunge, rate futures rise on fiscal fears
(Reuters) - Brazilian stocks tumbled on Thursday to an 11-month low, while interest rate futures jumped and the currency weakened on fears that the government will bend a constitutional spending cap. Economy Minister Paulo Guedes said late on Wednesday the government may try to exempt 30 billion reais ($5.3 billion) of spending from its fiscal... Continue Reading →
Brazil Energy Insight 