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Old-guard importers are fading, but new markets are opening. The region’s exporters are adapting to the US threat Latin America doesn't suck in huge quantities of liquefied natural gas like northeast Asia, or feed the world's thirst on the same scale as Australia or Qatar; but it has played an increasingly important role in the... Continue Reading →
11/JUNE The Mero pre-salt field in the Santos basin off Brazil produced a record-breaking 50,000 barrels per day of oil equivalent from a single well in April. Brazilian oil giant Petrobras produced 36,085 barrels per day of oil and 2.35 million cubic metres per day of natural gas from well 3-BRSA-1305A-RJS, for a total hydrocarbons... Continue Reading →
U.S. oil producer Chevron Corp (CVX.N) has permanently assigned its Brazil country chief to run its Venezuelan operations after the months-long detention of two executives escalated tensions between the OPEC-member nation and foreign oil firms. Read more
It may not have been pretty, nor quick, but Brazil’s central bank finally became the latest emerging-market monetary authority to halt its currency’s depreciation by shoring up markets. The real rose for the first time in four days, jumping more than 5 percent and leading world gains, after the central bank pledged to flood the... Continue Reading →
Rio de Janeiro, June 8, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the material facts disclosed on 5/28/18 and 6/1/18, informs that its Board of Directors approved, in an extraordinary meeting held yesterday, the company’s adhesion to the 2nd phase of the of economic subvention program for the commercialization of diesel, established by... Continue Reading →
Rio de Janeiro, June 7, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on December 14, 2017, informs that it acquired, in partnership with other companies, three offshore blocks in the 4th Bidding Round under the Production Sharing Regime, held today by the National Petroleum Agency (ANP), as the operator... Continue Reading →
June 08, 2018 Despite the traditional volatility of the oil and gas sector, in addition to domestic market turbulence, the national oil industry has confirmed the recovery path ahead of the result of the pre-salt auction held last Thursday, in which three blocks were sold for R $ 3.15 billion to large companies. "These auctions... Continue Reading →
Offshore driller Seadrill Limited expects to emerge from the Chapter 11 process in the first half of July 2018. The U.S. Bankruptcy Court for the Southern District of Texas overseeing the Seadrill’s chapter 11 cases entered an order confirming the driller’s plan of reorganization in April. Read more
June 7, 2018 The 4th. round in the sharing regime held today by the ANP was a success, a great success. Even though it did not attract interest in one of the four blocks, the awarding of three blocks to three different consortia of six different major oil companies should be considered as a... Continue Reading →
Norway’s Equinor ASA led oil majors grabbing pre-salt blocks in Brazil on Thursday, snapping up stakes in some of the world’s most alluring offshore geology despite fresh concerns about political meddling in the country’s energy sector. A consortium of Equinor, Exxon Mobil Corp and Petroleos de Portugal made Thursday’s most aggressive play, offering more than... Continue Reading →
Brazil Energy Insight 