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(Reuters) - Brazil’s Economy Minister Paulo Guedes said on Tuesday that state-owned oil firm Petrobras' (PETR4.SA) frequent updating of fuel prices may not be the "best tool" for the economy and consumers. Speaking at a Senate committee hearing, he stressed that oil prices are currently at the same level as in February and that the company may... Continue Reading →
Alberto Ferrin was nominated the new president of the oil company in the Brazil. With ExxonMobil for more than 15 years, Ferrin has held a variety of roles with the company in exploration and production around the world, including leadership positions in West Africa, Australia, the United States and Mexico. “Brazil remains a strategic country... Continue Reading →
(Reuters) - Major international players have dropped out of the bidding process for a Brazilian power distributor owned by Enel SpA (ENEI.MI), leaving two local firms competing head-to-head for the asset, three sources with knowledge of the matter said. Equatorial Energia (EQTL3.SA) and Energisa SA (ENGI11.SA) were the only companies still interested in Celg-D, which distributes power to the center-west... Continue Reading →
(Upstream) As the world begins the shift towards cleaner and more efficient sources of energy, Brazil's focus can sometimes seem to be fixed on fossil fuels. This is understandable, considering Brazil's pre-salt oil fields are capable of producing more competitively and, advocates say, with lower emissions than just about any other offshore province. In a... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it is reassessing the date for the start of operation of the Route 3 Integrated Project, scheduled for the second half of 2022, due to the demobilization of the workforce of the company SPE Kerui-Método, responsible for the works of the Natural Gas Processing Unit (UPGN) of the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 04/01/2022, informs that it has completed a Drill Stem Test (DST) on the 1-BRSA-1383A-RJS wildcat well (Alto de Cabo Frio Central Noroeste) in the pre-salt of the southern portion of the Campos Basin. The new discovery, announced on April 1st, is located 230... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/28/2021 and 06/22/2022, informs that it has today finalized the sale of 51% of Petrobras Gás S.A. (Gaspetro) to Compass Gás e Energia S.A. (Compass). The transaction was concluded for R$ 2.097 billion, fully paid on this date. This disclosure to the market... Continue Reading →
Petro Rio S.A. (“PRIO”), informs its shareholders and the market in general of the start of production of the 7-FR-54H-RJS (“ODP4”) well, in the Frade Field, with stabilized initial production of approximately 15,000 barrels of oil per day, significantly above original projections, doubling the Field’s production and increasing the Company’s production by 45%, to 48,500... Continue Reading →
(PN) The platform ship (FPSO) Anna Nery left the Cosco Qidong shipyard in China and began its journey to Brazil. In the next two weeks, the vessel will carry out navigation tests in Chinese waters. It will then make stops in Singapore and Mauritius, to refuel and change crews. The arrival in Brazil is scheduled... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro said on Monday that a deal was close with Moscow to buy much cheaper diesel from Russia, in what would appear to be the latest tangible benefit stemming from his friendly relationship with President Vladimir Putin. Bolsonaro, a far-right former army captain, gave no further details. Neither Bolsonaro's office,... Continue Reading →
Brazil Energy Insight 