The Final Tender Protocol brings the rules and procedures of the 14th Bidding Round sets forth rights and obligations of the future concessionaires. The final tender protocol and the model of concession contract furnish improvements in relation to the draft tender protocol and to the draft of concession contract, published on May, 18 2017.... Continue Reading →
Brazil publishes contract model for 14th round oil-rights auction
JULY 19, 2017 / 6:47 PM RIO DE JANEIRO (Reuters) - Brazil's oil watchdog ANP on Wednesday published the model contract for its 14th round auction of oil and natural gas exploration rights, scheduled for Sept. 27. On offer are 287 blocks in the offshore basins of Sergipe-Alagoas, Espírito Santo, Campos, Santos, Pelotas, and onshore... Continue Reading →
Brazil approves long-term tests at Petrobras Libra platform
JULY 18, 2017 / 6:30 PM SAO PAULO (Reuters) - Brazil's environmental agency Ibama has issued an operating license for long-term tests at the Pioneiro de Libra floating platform operated by Petroleo Brasileiro SA , according to a statement on the agency's website on Tuesday. The license was issued on condition that the operators of... Continue Reading →
Start of negotiations to revise the Braskem Shareholder’s Agreement
Rio de Janeiro, July 18, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has begun negotiations with Odebrecht S.A. to promote the revision of the terms and conditions of the Braskem S.A. Shareholder's Agreement, celebrated on February 8, 2010. This revision aims to improve Braskem’s corporate governance and the corporate relationship between the... Continue Reading →
Brazil mulls easing local content rules in older oil contracts
JULY 18, 2017 / 1:00 PM / 3 HOURS AGO RIO DE JANEIRO (Reuters) - Brazil's oil regulator is proposing a plan to allow companies to apply more flexible local content rules to pre-existing contracts, the agency chief said on Tuesday, in a bid to attract fresh investment by foreign oil majors into Latin America's... Continue Reading →
What If Big Oil’s Bet on Gas Is Wrong?
Talk to a Big Oil executive these days, and the chances are they’ll steer the conversation toward gas. “In 20 years, we will not be known as oil and gas companies, but as gas and oil companies,” Patrick Pouyanne, chief executive officer of French giant Total SA, told a conference in St. Petersburg last month. Read... Continue Reading →
Petrobras – Oil and natural gas production in June
Rio de Janeiro, July 17, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in June was 2.81 million barrels of oil equivalent per day (boed), of which 2.70 million boed produced in Brazil and 113 thousand boed produced abroad. The average oil production in Brazil was 2.20... Continue Reading →
Mexico Delays Next Oil Auction to Let Huge New Find Sink In
Mexico will delay its next offshore oilfield auctions by a month, giving international bidders more time to evaluate recent major crude discoveries that highlight the potential value of the assets. A new billion-barrel find announced last week "confirms that the Mexican side of the Gulf of Mexico is very prolific," said Juan Carlos Zepeda, Mexico’s... Continue Reading →
Exxon hunting for new Liza in Suriname
U.S. oil major Exxon Mobil has confirmed it has, with its partners Hess and Statoil, signed a production sharing contract for Block 59 with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname. To remind, Staatsolie informed of the upcoming signing of the PSC two weeks ago, but with little detail. The block adds... Continue Reading →
Aker BP quarterly revenues lifted by swelling production
Norwegian exploration and production company Aker BP more than doubled its second quarter 2017 production and revenues, compared to last year’s quarterly result, due to inclusion of BP Norge’s activities. To remind, Aker BP was formed in September 2016 through a merger between Det norske oljeselskap and BP Norge. In its quarterly financial report on Friday,... Continue Reading →
Brazil Energy Insight 