Porto Açu carries out second transhipment operation with a VLLC and is expected to close the year with up to 60 million barrels of oil. Galp carried out its second transhipment operation at the Açu Petróleo terminal in São João da Barra (RJ). The oil production at the Lula field in the Santos pre-salt occurred... Continue Reading →

Norwegian oilfield services company Aker Solutions posted an increase in profit and revenues as its orders almost doubled in the second quarter of 2018 compared to a year earlier amid a pickup in activity. In its 2Q 2018 report on Thursday Aker Solutions said that its orders totaled NOK 5.7 billion ($703 million) in the... Continue Reading →

According to new analysis from IHS Markit, surplus Brazilian oil volumes estimated at 7.4 billion barrels-of-oil-equivalent (BOE) could yield an estimated $210 billion in royalties, government profit share and income taxes by 2050, should the cash-starved Brazilian government choose to auction the excess volumes under production-sharing terms. These surplus ‘transfer of rights (TOR),’ volumes, which... Continue Reading →

Rio de Janeiro, July 10, 2018 - Petróleo Brasileiro S.A. - Petrobras reports that it has signed yesterday with the French companies Total and Total Eren a Memorandum of Understanding (MoU) to analyze the joint business development in solar energy and wind onshore energy segments in Brazil. Based on promising initial results arising from the... Continue Reading →

Petrobras is close to securing the sale of its 50% stake in PetroAfrica, according to a source. The transaction is being carried out jointly with BTG Pactual and Helios Investment Partners, which holds the remaining 50% of the company and are also divesting the asset. According to a source, PetroAfrica is valued at US $... Continue Reading →

Industrial conglomerate Odebrecht SA has signed a leniency deal with Brazil’s attorney general and comptroller general expanding on an agreement with federal prosecutors that set terms for its cooperation in a massive graft probe, authorities said on Monday. Odebrecht has been at the center of a global corruption investigation involving numerous other firms that paid... Continue Reading →

The chief justice of a Brazilian appeals court blocked another judge’s efforts to release imprisoned former president Luiz Inacio Lula da Silva on Sunday, in a legal battle over the country’s most popular politician ahead of an October election. Read more

Brazil’s run at the World Cup ended in stunned silence on Friday, as Belgium eliminated the five-time world champions, 2-1, in Kazan. The win was as deserved as it was shocking: Brazil had been among the best teams left in a field that already had seen out pre-tournament favorites like Germany and past champions like... Continue Reading →

06/07/18 The 3-GTE-4DPA-BA well in Tiê field produced 1,239 barrels / day of oil in May, according to ANP data released this week. This is the 15th consecutive month in which the well operated by Maha Energy of the Gran Tierra group was the country's largest land-based oil producer. Located in the Recôncavo Basin, 3-GTE-4DPA-BA... Continue Reading →