The absence of proposals in the 5th Round of the Pre-salt, last Friday, is far from signifying a lack of interest from the Norwegian oil company Equinor for Brazil. For the company, which has annual global revenues of US $ 61.2 billion and plans to invest US $ 15 billion in Brazil by 2030, the... Continue Reading →

Brazil’s business class is quietly rooting for far-right presidential candidate Jair Bolsonaro to win the nation’s highest office this month, fearful of a return to leftist rule in Latin America’s largest economy. The nation’s currency and equity markets have increasingly rallied in lock-step with favorable poll numbers for Bolsonaro, a firebrand congressman better known for... Continue Reading →

Rio de Janeiro, September 28, 2018 – Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 8/7/18 and 8/31/18, informs that, due to the methodology established in the National Petroleum Agency (ANP) Resolution no. 743 of 8/27/18, the average price of diesel will be R$ 2.3606 per liter as of 9/30/18, which... Continue Reading →

Rio de Janeiro, September 28, 2018 – Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on June 5, 2018, informs that it acquired an offshore block in the 5th Bidding Round under the Production Sharing Regime, held today by the National Petroleum Agency (ANP), as the operator in this block. Under this... Continue Reading →

Royal Dutch Shell Plc (RDSa.AS) and Chevron Corp (CVX.N) on Friday led big bets by oil majors seeking to clinch key stakes in Brazil’s coveted offshore oil play, shrugging off concerns over presidential elections that have cast a pall of uncertainty over the industry. Shell and Chevron pledged to the government a high 70.2 percent... Continue Reading →

Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits. But this time there seems to be a bigger chance it will actually happen, according to analysts at Credit Suisse Group AG and Morgan Stanley. Some of the world's biggest owners of rigs that drill... Continue Reading →

September 28, 2018 The ANP held, on September 28, 2018, in the city of Rio de Janeiro, the public session for the presentation of offers of the 5th Round of Bids for Production Sharing. The round was aimed at granting production-sharing contracts for the exploration and production of oil and natural gas in the Saturn,... Continue Reading →

5th Production Sharing Round: result for Tita (Santos Basin) - Exxon Brasil (64%), QPI Brazil (36%). Signature bonus: R $ 3.125 billion.   5th Production Sharing Round: result for Pau-Brazil (Santos Basin) - BP Energy (50%), CNOOC Petroleum (30%) and Ecopetrol (20%). Signature Bonus R $ 500 million.   5th Production Sharing Round: result for... Continue Reading →

Total SA is among a growing chorus that sees $100-oil on the horizon. But the French energy giant isn’t thrilled about it. CEO Patrick Pouyanne sees supportive elements, such as looming sanctions on Iran and disruptions in Venezuela, that are stripping supply from the market and pushing prices back into triple digits for the first... Continue Reading →