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In 2023, we delivered an excellent upstream operational performance, meeting all production forecasts for the year. Total annual production of oil and natural gas, of 2.782 MMboed, was 3.7% above the production of 2022. Our good results were made possible mainly by the start-up of FPSOs Almirante Barroso, Anna Nery and Anita Garibaldi, as well... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, further to the announcements made on May 24, 2022 and August 5, 2022, informs that, after complying with internal governance procedures, it has signed a new amendment to the natural gas purchase agreement with Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). The amendment signed today changes the delivery profile of the total... Continue Reading →
Petróleo Brasileiro S.A. – Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, informs that a mission of Petrobras executives was carried out in Bolivia with representatives of YPFB (Yacimientos Petrolíferos Fiscales Bolivianos). On that occasion, Petrobras executives heard about the opportunities presented by YPFB representatives, none of which were... Continue Reading →
(Bloomberg) – Petrobras is studying how Chevron Corp. managed to resume operations in Venezuela to see if it makes sense for Brazil’s state-controlled oil company to reenter the oil-rich nation, Chief Executive Officer Jean Paul Prates said. It makes “geopolitical sense” for Petrobras to look at expanding into Venezuela and Bolivia because they are neighboring... Continue Reading →
(OE) Eight Amazon rainforest nations are expected to face divisions over proposals to block new oil drilling and end deforestation when they meet on Tuesday for their first summit in 14 years. The meeting of the Amazon Cooperation Treaty Organization (ACTO) gathers heads of state from Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname and Venezuela... Continue Reading →
(WO) – Bolivia’s state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) made a natural gas discovery at the Remanso-X1 well. The new reservoir will generate approximately $5 billion in gas revenue for the country. “The well is undergoing condensate production tests (48° API). These results will allow it to be classified as the discoverer of... Continue Reading →
(Reuters) - Brazil has increased hydroelectric generation to near-record rates in 2022 and 2023 – reducing the need to import liquefied natural gas (LNG) and freeing cargoes to be redirected to ease the gas shortage in Europe. Brazil’s total electrical generation rose by +21 billion kilowatt-hours (kWh) to a record 677 billion kWh in 2022,... Continue Reading →
(Reuters) - The chief executive of Brazil's state oil company Petrobras (PETR4.SA) said on Thursday he expects to resume work on a major nitrogen fertilizer project in the city of Tres Lagoas, and hinted at new gas projects in Bolivia. Chief Executive Officer Jean Paul Prates predicted starting construction again at the project at an event in... Continue Reading →
(REuters) Brazil's Petrobras may look abroad for future growth, two sources with knowledge of the state-run firm's plans told Reuters, after environmental regulators dashed its hopes of exploring near the Amazon River where it had aimed to make its first major domestic oil discovery in over a decade. Petroleo Brasileiro, as the company is formally known,... Continue Reading →
(Reuters) - Argentina's government will next week call for bids to reverse the flow of natural gas on a major pipeline designed to transport Vaca Muerta production to the north and center of the country, Economy Minister Sergio Massa said on Friday. Vaca Muerta is a massive shale formation in western Argentina seen as key... Continue Reading →
Brazil Energy Insight 