State-controlled oil company Petróleo Brasileiro SA introduced on Wednesday a new natural gas pricing policy that sets lower prices for smaller quantities sold in local markets. In a securities filing, Petrobras said final prices for liquefied natural gas stored in cylinders of less than 13 kilograms and sold to Brazilian households will correspond to the... Continue Reading →
PETROBRÁS CONCLUDES ADJACENT WELL IN LIBRA
June 06, 2017 Petrobras has taken an important step in its exploration in the pre-salt layer. Petrobras completed an adjacent pioneer well in Libra, in the pre-salt of the Santos Basin. Located at a water depth of 2,252 meters. The well 4BRSA1346RJS has not yet had evidence of hydrocarbons, according to data from the National... Continue Reading →
Brazil’s labor reform bill advances in Senate
Brazilian President Michel Temer's proposal to modernize the labor market was approved by the Senate's economic affairs committee on Tuesday, clearing an important hurdle despite a political crisis that has jeopardized the government's reforms agenda. The committee passed the bill 14-11. The proposal still needs the approval of two other Senate committees before it reaches... Continue Reading →
Top Forecaster Sees Brazil Currency Uproar Tamed by Temer Legacy
Never mind the chaos. Brazil’s real may end the year where it began. The headwinds for the currency are obvious - it posted the fattest return among global currencies last year, and then reform-minded President Michel Temer landed in a political scandal last month that could result in his ouster. Read more
Brazil’s brittle governing coalition endangered by key party’s young lawmakers
Younger lawmakers keeping beleaguered Brazilian President Michel Temer's brittle coalition from disintegrating are engaged in bitter internal debates with their own party elders, calling for them to abandon the scandal-plagued leader. With Temer's future on the line because of an ongoing corruption investigation and an electoral fraud trial that begins later Tuesday, the Brazilian Social... Continue Reading →
Guyana to grant oil production license to Exxon ahead of Liza FID
Guyana is set to grant a production license to ExxonMobil for production of oil to move ahead in 2020. This follows reviews of the technical and environmental aspects of the giant Liza oil discovery in the Stabroek Block offshore Guyana. Exxon submitted the development plan for the Liza project in December 2016. The Liza project is estimated... Continue Reading →
PETROBRÁS RECEIVES NEW LICENSES FOR ALBACORA FIELD PLATFORMS
JUNE 5, 2017 Petrobras has received two new operating licenses from the Brazilian Institute of Environment and Natural Resources (Ibama). The documents were issued to regulate the environmental licensing of oil and natural gas production systems in the Albacora field, in the Campos Basin. The licenses were granted for platforms P-25 and P-31, as well as... Continue Reading →
Petrobras CEO Presentation to Investors June 5, 2017
Petrobras CEO Presentation to Investors June 5, 2017 - please see attached Petrobras CEO Presentation to Investors
Petrobras will not slow down asset sales upon meeting debt targets -CEO
Mon Jun 5, 2017 - State-controlled oil company Petróleo Brasileiro SA will not slow down asset sales or debt-cutting efforts if it meets debt targets earlier than expected, Chief Executive Pedro Parente said on Monday. Petrobras plans to cut net debt to 2.5 times operating profits by 2018, down from 3.24 times in the first quarter.... Continue Reading →
Court trial to determine fate of Brazilian presidency
Brazil's top electoral court opens a trial on Tuesday over the alleged use of illicit money to fund President Michel Temer's 2014 election campaign in a case that could force him from office. The court has no deadline to reach a decision and could take weeks to rule, though the political turmoil Brazil is living... Continue Reading →
Brazil Energy Insight 