Rio de Janeiro, October 26, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the press release disclosed on 08/14/2017, informs the start of the binding phase regarding the sale process of its assets in Paraguay. At this stage of the project, the invitation letters are issued to interested parties qualified in the previous phase,... Continue Reading →
Brazil’s Congress rejects corruption case against President Temer
Brazilian lawmakers rejected corruption charges against President Michel Temer on Wednesday evening, shelving a case that had threatened to oust a center-right leader who investors hope will bring Brazil’s budget deficit under control. Read more
U.S. proposes largest ever offshore oil and gas lease sale
U.S. Interior Department led by secretary Ryan Zinke has proposed the largest oil and gas lease sale ever held in the United States –76,967,935 acres in federal waters of the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama and Florida. The proposed region-wide lease sale, offering an area about the size of New Mexico, is... Continue Reading →
Offshore Technology Conference Brazil: Petrobras focus on its strengths | Pedro Parente | Rio de Janeiro
See attached OTC Brasil 2017 presentation by Petrobras CEO, Pedro Parente. OTC Brasil 2017 - Pedro Parente
Big Oil Learns to Squeeze Cash From Every Barre
Crude may still be languishing near $50, but Big Oil is on track to rejoin the world’s corporate elite by squeezing more cash from each barrel. The five biggest oil producers generated about $34 billion of cash from operations in the third quarter, according to estimates from Jefferies LLC. That puts each of them at... Continue Reading →
Brazil auction tests oil major appetite for deepwater fields
Top global oil companies will compete on Friday in Brazil’s billion-dollar auction for some of the world’s most prolific deepwater oilfields, a test of their appetite for capital intensive offshore projects after three years of low oil prices. Competition between firms such as Exxon Mobil, Royal Dutch Shell and Total> is expected to be fierce... Continue Reading →
Shell says can pump oil from Brazil’s pre-salt fields below $40/bbl
Royal Dutch Shell will participate in Brazil’s deepwater oilfield auction on Friday and is confident it can pump oil from the fields on offer for less than $40 a barrel, a top Shell executive said. Read more
IHS Markit: Lack of deepwater asset inventory challenges operators who seek M&A deals
Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition (M&A) deals, according to a new report by IHS Markit, a UK-based provider of information, analytics and solutions. This lack of deepwater asset inventory is challenging E&P (exploration and production) operators who seek to acquire assets in order to... Continue Reading →
Brazil central bank set to taper rate cuts near record low
Brazil’s central bank is set to slow the pace of interest rate cuts on Wednesday, taking its benchmark rate just above an all-time low as the economy finally starts to emerge from recession. Read more
Hess Is Building a War Chest to Fund Its $4.4 Billion Guyana Find
With $2.7 billion in oilfield sales this week, Hess Corp. is making a calculated bet, giving up steady production today to help fund what could be one of the world’s biggest discoveries into the next decade. The oil explorer with operations on five continents said Tuesday that it’s selling North Sea assets off of... Continue Reading →
Brazil Energy Insight 