Chinese oil company Sinochem is studying the sale of its 40 percent stake in Peregrino's field, four sources familiar with the matter told Reuters in a deal in which the state-owned conglomerate could leave an asset considered key in the past due to low oil prices. The oil and chemical company purchased its current... Continue Reading →
Brazil set to keep aggressive pace of rate cuts to salvage economy
Brazil's central bank will likely maintain its aggressive pace of interest rate cuts on Wednesday despite some calls to further step up monetary easing to rescue an economy mired in recession. The bank's 9-member monetary policy committee, known as Copom, will likely cut its benchmark Selic rate BRCBMP=ECI by 75 basis points to 12.25 percent,... Continue Reading →
Rio Justice suspends Petrobras bid for pre-salt parts
The Rio Justice has ordered the suspension of the bid by Petrobras for the purchase of moorings for six platforms in the pre-salt fields of the onerous assignment. According to a newspaper article reported on the 8th, Petrobras declared a Chinese company the winner that did not comply with local content rules, regulation of... Continue Reading →
Combined task force will also cooperate with investigation centered on Petrobras contracts
Brazil and 10 Other Countries Coordinate Odebrecht Probes Workers, student and farmers protest the scandal involving Brazilian construction company Odebrecht in front of Panama's Congress in Panama City on Thursday. Images PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES By ROGERIO JELMAYER and LUCIANA MAGALHAES Feb. 17, 2017 9:34 a.m. SÃO PAULO—Prosecutors in Brazil and 10 other countries agreed... Continue Reading →
Brazil judge lifts order mandating Odebrecht payments to government
A federal judge in Brazil on Friday suspended an order that required two units of construction firm Odebrecht to make monthly payments amounting to 3 percent of their monthly revenues to a government account, according to a court document. Judge Friedmann Wendpap ruled that the two units of the Brazilian builder, at the center of... Continue Reading →
Challenges approach Petrobras and Pemex
02/17/2017 | News release On some walls in the less affluent neighborhoods of the Mexican capital it is still possible to see graffiti with the slogans 'Down the Gasolinezo'. About a month ago, in early January, popular protests spread across the country against a 20% price increase in gasoline prices and left six people dead during clashes... Continue Reading →
Local content will have ‘macro-segments’
The government is close to overcoming internal differences and hammering the new local content rules for the 14th round of oil and gas bids. A conciliation proposal has been sewn in recent days by the initiative of two authorities: the Ministry of Mines and Energy (MME) and the Ministry of Industry, Foreign Trade and... Continue Reading →
Petrobras oil and natural gas production in January
February 15, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that its total oil and natural gas production in January was 2.86 million barrels of oil equivalent per day (boed), of which 2.74 million boed were produced in Brazil and 0.12 million boed abroad. The average oil production in the country was 2.23 million barrels... Continue Reading →
Petrobras and Total
The relationship between Petrobras and Total could not be better. They are already discussing new investments under their MOU Agreement announced at the end of last year, in the order of US $ 2.2 billion. The additional contributions would mainly be in the Libra field where the overall cost estimates have already fallen by... Continue Reading →
Clarification on News: Delays in platforms built in Brazil
Rio de Janeiro, February 15, 2017 - Petróleo Brasileiro S.A. - Petrobras hereby responds to Official Letter 182/2017-SAE which requests clarification, as follows: Official Letter no. 182/2017-SAE “Dear Sirs, A news article published on the Blog website Ancelmo.com on 02/12/2017 states, among other information, that Petrobras estimates that losses with delays in the platforms built... Continue Reading →
Brazil Energy Insight 