China Petroleum & Chemical Corp., the world’s biggest refiner, will pay a record-high dividend as its massive fuels and chemical segments helped boost annual profit about 10 percent. Net income climbed to 51.1 billion yuan ($8.1 billion), the company known as Sinopec said in a statement to the Hong Kong stock exchange Sunday. The company proposed a 0.5... Continue Reading →
Petrobras – Revolving credit facility with Banco do Brasil
Rio de Janeiro, March 26, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it has signed on 3/23/2018 with Banco do Brasil a revolving credit facility in the amount of R$ 2 billion, with maturity in February 2023. Through the instrument, the company may draw from the line until the month prior to maturity.... Continue Reading →
TOTAL RECEIVES THE FIRST OIL OF THE MERO AND LAPA FIELDS
March 23, 2018 Total E & P do Brasil, a subsidiary of Total Group, completed its first oil loading operations in the Lapa and Mero fields, located in the Santos Basin pre-salt. In the first operation, Total received 690,000 barrels of oil from the FPSO Cidade de Caraguatatuba, in the Lapa field, related to... Continue Reading →
Oil firms ready new bets in Mexico, Brazil ahead of elections
Oil and gas companies are gathering in Mexico and Brazil this week for what may be two of their last chances to compete for some of the world’s biggest reserves ahead of elections that could dial back energy reforms in both countries. Read more
These AR Goggles Are Making Faster Fixes in Oil Fields
Replacing parts of an outdated Baker Hughes turbine at a petrochemical plant in Johor Bahru, Malaysia, is about as fun as it sounds. The chore was supposed to halt operations at the facility for at least 10 days and cost $50,000 to fly a specialized U.S. work crew about 9,000 miles. Instead, once the equipment... Continue Reading →
Argentina Eyes $500 Million Rail Project to Boost Shale Play
Argentina is readying a tender for a $500 million train line that could help unlock the potential of Vaca Muerta, one of the world’s biggest shale plays, Transport Minister Guillermo Dietrich said in an interview. The train would link towns in the heart of the Patagonian shale field to the Atlantic port of Bahia Blanca... Continue Reading →
Comperj Gas Unit is contracted by Petrobras with Shandong Kerui and Potential Method
March 23, 2018 Petrobras contracted with the Shandong Kerui Consortium and Potential Method to retake the works of the Comperj Natural Gas Processing Unit (NGPU) in Itaboraí, Rio de Janeiro. The contract, valued at around R$2 billion, was signed on the 22nd of March by representatives of the companies. The goal is for the unit... Continue Reading →
Oil auctions could exceed R$ 3.5 billion, projects ANP
03/23/2017 The director of the National Petroleum Agency (ANP), Décio Oddone, believes that government revenue from this year's auctions may exceed the initial forecast of R $ 3.5 billion. The calculation takes into account the signing bonus payment estimates for the assets of the 15th round of exploratory block concessions next week and the 4th... Continue Reading →
Mexico reveals bidders list for upcoming shallow water round
Mexico’s National Hydrocarbons Commission has revealed a list of the approved bidders for the next week’s oil and gas acreage bidding round. Read more
Statoil looking to get to the next level in Brazil by solving subsea challenges
Being the operator of the producing Peregrino field located offshore Brazil, Statoil’s activities in the country have been bearing fruit for years now. To put things in perspective, it is worth mentioning that Peregrino is Statoil’s largest operated heavy oil field outside Norway. However, the Norwegian state-owned giant is looking to further solidify its position in... Continue Reading →
Brazil Energy Insight 