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June 2, 2026 – Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held yesterday, approved the company’s adherence to the economic subvention granted to producers and importers of road‑use diesel oil in Brazil, in the amount of R$ 1.12 per liter commercialized. This subvention was established by Provisional Measure... Continue Reading →
June 1 - Independent oil company Karoon Energy announced the completion of the transition of operations of the Baúna FPSO (formerly called Cidade de Itajaí). To recap, the platform was acquired from Altera & Ocyan (A&O) in April of last year for US$115 million plus approximately US$8 million in transaction costs. Since then, the two... Continue Reading →
May 30 (Reuters) - Brazil's economy rebounded in the first three months of 2026, supported by household consumption and stronger investment, against a backdrop of a tight labour market and government stimulus that has clouded the outlook for interest rate cuts. Latin America's largest economy expanded 1.1% from the prior quarter, government statistics agency IBGE... Continue Reading →
May 29, 2026 SBM Offshore announces that it has been awarded contracts by Petróleo Brasileiro S.A. (Petrobras) for two FPSO projects located in the Sergipe-Alagoas basin, located in the northeastern part of Brazil. Under these contracts, SBM Offshore will design, build and operate FPSOs SEAP-I and SEAP-II. The consortia led by Petrobras will own the... Continue Reading →
May 28 - Petrobras announced investments of approximately R$60 billion in Sergipe as part of the Sergipe Deepwater Project (SEAP), an initiative that should increase the Northeast's share of the national natural gas supply from the current 16% to 31% by 2035. The information was announced by the state-owned company's president, Magda Chambriard. The SEAP... Continue Reading →
May 28 (offshore-energt.biz) French tubular solutions provider Vallourec and Syngular Solutions, a Brazilian engineering and consulting company specialized in bioenergy with carbon capture and storage (BECCS) and carbon capture, utilization and storage (CCUS) projects, have signed a memorandum of understanding (MoU) to collaborate on carbon capture and geological storage initiatives in Brazil. The MoU establishes a... Continue Reading →
Rio de Janeiro, May 28, 2026 – Petróleo Brasileiro S.A. - Petrobras announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) has delivered notices of redemption to the holders of the outstanding 7.375% Global Notes due 2027. Title of SecurityISINCUSIPCommon CodeAggregate Principal Amount to be Redeemed7.375% Global Notes due 2027US71647NAS8071647NAS8N/AUS$670,009,000 The redemption date for... Continue Reading →
May 27 (OE) ABS has issued a Statement of Maturity for SBM Offshore’s Seawater Intake Riser (SWIR) technology. Developed in collaboration with Shell, the SWIR technology features an innovative technique to pump colder seawater from approximately 700 meters below the ocean’s surface up to an FPSO’s topsides to be used for cooling purposes. Depending on... Continue Reading →
May 27 (OE) Baker Hughes announced Tuesday a major contract extension with Petrobras to provide integrated solutions for well construction across Brazil’s Santos Basin. Baker Hughes will expand the company’s comprehensive well construction operations in several of the basin’s oilfields. The company’s advanced portfolio – including the AutoTrak™ rotary steerable system, cutting-edge logging-while-drilling tools, and... Continue Reading →
May 26 (Reuters) - Colombia's state oil company Ecopetrol launched a tender offer to acquire control of Brava Energia, the Brazilian energy firm said in a securities filing late on Monday. Offer covers 116.1 million common shares at 23 reais per share, a 15.4% premium over Brava's Monday close Deal represents about 25% of Brava's total... Continue Reading →
Brazil Energy Insight 