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The Board of Directors of 3R Petroleum has approved the holding of a public offering of the company's shares. The offering is scheduled for November 4th. -- There will be a primary offering of 36.5 million new shares, with limited efforts, but with the possibility of placing an additional 29.2 million shares. In addition, 3R... Continue Reading →
Portuguese oil company Galp Energia on Monday raised its earnings outlook for 2021 after higher oil prices and positive refining margins buoyed profitability in the third quarter. Galp said its adjusted core earnings or EBITDA in this year as a whole would exceed 2.3 billion euros ($2.7 billion), compared with its previous forecast of 2... Continue Reading →
The Papa-Terra field, in the Campos Basin, which marked the entry of 3R Petroleum in the state of Rio de Janeiro, will increase the company's proven (1P) reserves by around 35%, bringing them to a total 185.1 million barrels of oil equivalent. The company recently received from DeGolyer & MacNaughton the final result of the... Continue Reading →
Petrobrás announced that it has asked the Environmental Licensing Board of the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) for an operating license for the offshore drilling activity in blocks FZA-M-57, FZA- M-86, FZA-M-88, FZA-M-125 and FZA-M-127, in the Foz do Amazonas Basin. Also according to the oil company, the Environmental Impact... Continue Reading →
(Bloomberg) -- Brazil’s years-long Carwash probe into payoffs to secure business with Petroleo Brasileiro SA in the early 2010s revealed how a unit of commodities-trading giant Glencore Plc allegedly secured maritime fuel supply contracts. (Bloomberg) -- Brazil’s years-long Carwash probe into payoffs to secure business with Petroleo Brasileiro SA in the early 2010s revealed how... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, on 10/14/2021, its Executive Board analyzed and approved the submission to the Board of Directors of a proposal to enter into an Agreement between Petrobras and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) related to royalties on the operation of the Shale Industrialization Unit (SIX),... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake (100%) in the Catuá Field, belonging to the BC-60 Exploratory Block, located in the Campos Basin, in the state of Espírito Santo. The teaser, which includes key information about the opportunity, as well... Continue Reading →
(Reuters) - Brazilian stocks tumbled on Thursday to an 11-month low, while interest rate futures jumped and the currency weakened on fears that the government will bend a constitutional spending cap. Economy Minister Paulo Guedes said late on Wednesday the government may try to exempt 30 billion reais ($5.3 billion) of spending from its fiscal... Continue Reading →
(Bloomberg) -- For all President Jair Bolsonaro’s recent talk of privatizing Brazil’s crown jewel, oil giant Petrobras has struggled even to unload a handful of refineries. And its chances have never looked worse. With global fuel demand still reeling from the pandemic and refineries shutting down elsewhere, Brazil is giving potential buyers another reason for... Continue Reading →
In September, pre-salt oil and natural gas production totaled 2.85 million barrels of oil equivalent per day (boe/d), representing 74.10% of the national total (3.84 million boe/d) . It was the biggest historical record of monthly production in the Pre-salt, both in absolute terms and in percentage of participation in the country's total production. The... Continue Reading →
Brazil Energy Insight 