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(epbr) The government of Rio de Janeiro announced its intention to develop a first pilot project for offshore wind power generation, to test the technical viability and development potential of large-scale projects. The work will be coordinated by the State Secretariat for Energy and Economy of the Sea. “The pilot project is essential for evaluating,... Continue Reading →
(OE) UK-based CRP Subsea has recently won a "major" contract from an unnamed "leading energy technology company," AIS, CRP's parent company, said this week. CRP Subsea will deliver 333 distributed buoyancy modules (DBMs) for a deepwater oil field project located in the pre-salt Santos Basin, offshore Brazil. Distributed buoyancy modules (DBMs) are typically used between structures... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, reaffirms its commitment to investments in the Equatorial Margin, as disclosed in its Strategic Plan 2023-2027, recognizing the importance of new frontiers that ensure the country's energy security and the resources necessary for a fair and sustainable energy transition. Exploration in the... 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) - Brazilian state-run oil company Petrobras (PETR4.SA) is likely to already base its second-quarter dividends on a new policy being prepared by a working group, Chief Financial Officer Sergio Caetano Leite said on Wednesday. Leite told reporters that studies for the new policy should be completed by the end of this month, with the proposal then... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA) will double down on its strategy to maximize motor fuel from its local refineries even as it boosts imports of cheap Russian diesel, the company's top executive told Reuters on Monday. The comments from CEO Jean Paul Prates follow June data showing that Brazil's foreign diesel purchases rose sharply in... Continue Reading →
(Reuters) - Brazil's state-run oil company, Petrobras (PETR4.SA), will keep total investments in its upcoming 2024-2028 business plan similar to the $78 billion foreseen in its latest five-year plan, CEO Jean Paul Prates told Reuters on Monday. Petrobras is preparing to preview updates to its business plan next month, he said, including a greater focus on... Continue Reading →
PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), informs its shareholders and the market in general of the start of production of the ODP5 (“F23P3”) well, in the Frade Field (“Field” or “Frade”), with stabilized initial production of approximately 8,000 barrels of oil per day. Thus, PRIO has exceeded the milestone of 100,000 barrels per day... Continue Reading →
(ON) Brazil was able to cop a total of US$12.882 billion in signing bonuses from 15 block awards in its pre-salt area since the state-owned Petrobras made the first discovery back in 2006. This is according to the recent Economic Commission for Latin America and the Caribbean (ECLAC) report. The pre-salt is a sequence of... Continue Reading →
(Reuters) - Chinese oil refineries, led by heavyweight Sinopec (600028.SS), are set to boost Brazilian crude imports in the third quarter to replace some of the Saudi Arabian supply it cut after the kingdom hiked prices, industry sources said. China, the world's top crude importer, has booked nearly 1 million barrels per day of Brazilian crude... Continue Reading →
Brazil Energy Insight 