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(U) After years of uncertainty and stagnation, the offshore drilling market is making a comeback in 2022, with demand for rigs rebounding around the world. Brazil, one leg of the “golden triangle” of offshore oil and gas — the other two being the Gulf of Mexico and West Africa — is expected to lead rig... Continue Reading →
Brazilian oil company Petro Rio has signed a deal with TotalEnergies for the acquisition of a 40% interest in the BM-C-32 Block (“Itaipu Field” or “Itaipu”). Together with the 60% interest in Itaipu acquired from BP in July 2021, this transaction will bring Petro Rio's interest to 100% of the concession after the acquisition is... Continue Reading →
(Mint) In a landmark development to diversify crude oil sourcing for energy security in India, Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company on Saturday signed a Memorandum of Understanding (MoU) with Brazilian oil firm Petrobras. The signing of the MOU will strengthen future crude oil trade relations between the... Continue Reading →
(Bloomberg) -- Next week’s elections in Brazil pose a challenge to Petrobras investors. Former President Luiz Inacio Lula da Silva, the front-runner, has vowed to use the company as a vehicle for national development. Incumbent Jair Bolsonaro, who’s fighting for a come-from-behind upset, is proposing the complete opposite, with plans to privatize the state-run giant.... Continue Reading →
- Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/11/22, informs that it has terminated the contract with SPE Kerui-Método, responsible for the works of the Natural Gas Processing Units (UPGN) of the Itaboraí Gaslub Cluster. As a result of this fact, and in order to minimize impacts on the entry... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) has spent much of 2022 in turmoil, cycling through four chief executives as President Jair Bolsonaro hammered the company to bring down fuel prices. Faced with that and the likely return of a left-wing government in next month's election, some investors have moved to the sidelines. But of seven... Continue Reading →
(WO) Radix Engineering and Software closed a R$49 million (approx. $9.5 million) contract with Petrobras to develop and maintain scientific software focused on Well Engineering and Subsea Engineering. Radix will develop software for two lots of subsea and one lot of wells, marking its return to large contracts with Petrobras. The partnership will last for... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday chose to keep interest rates unchanged, pausing an aggressive monetary tightening cycle even as U.S. and European policymakers are still racing to catch up with inflation. The bank's rate-setting committee, known as Copom, decided by a vote of 7-to-2 to leave its benchmark Selic interest rate at 13.75%... Continue Reading →
Brazil’s oil and gas player Enauta has restarted production from three wells located on a field offshore Brazil and expects the production to stabilise over the incoming period. Enauta revealed on Wednesday that all three wells on the Atlanta field have come into operation. The company further elaborated that this field is in the process of commissioning... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/28/2022 and 08/31/2022, informs that it has carried out today the payment of the 2nd installment of the remuneration to shareholders approved by its Board of Directors in a meeting held on 07/28/2022. The gross amount distributed today corresponds to dividends of R$... Continue Reading →
