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Petrobras - In 3Q21, we continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached 2.83 MMboed, 1.2% above 2Q21, mainly... Continue Reading →
(Reuters) - The giant Itaipu hydroelectric power plant, wedged between Paraguay and Brazil on the Parana River, is facing an energy crunch amid record low river and rainfall levels that experts say could last into next year. The Itaipu dam, which supplies around 10% of the energy consumed in Brazil and 86% of that used... Continue Reading →
(Reuters) - Major economies will produce more than double the amount of coal, oil and gas in 2030 than is consistent with meeting climate goals set in the 2015 Paris accord to curb global warming, the United Nations and researchers said on Wednesday. The U.N. Environment Programme's (UNEP) annual production gap report measures the difference... Continue Reading →
(WO/Bloomberg) --Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy. Work will begin on constructing a major gas-fired power plant in 2022 on the expectation that a 220-kilometer (135-mile) pipeline will be... Continue Reading →
Offshore drilling company Valaris has won a drilling rig contract with the Brazilian oil firm Petrobras offshore Brazil. The contract is for the drillship Valaris DS-4, for operations offshore Brazil. The contract is for a minimum term of 548 days. The drillship is currently preservation stacked in the UK and will transit to the Canary... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) confirmed it will not be able to meet "atypical demand" from fuel distributors in November that has surpassed its production capacity, raising fears of supply shortages in the country. Petroleo Brasileiro SA, as the company is formally known, said in a securities filing late on Monday that it has... Continue Reading →
(Reuters) - Brazil's central bank on Tuesday made its first intervention in the spot currency market since March in support of the real after it almost touched a six-month low due to fresh concerns about looser government spending ahead of next year's election. The government is preparing an expanded welfare program next year, a person... Continue Reading →
(PetroleoHoje) TechnipFMC may be close to winning yet another SURF (underwater collection system) contract with Petrobras. The group presented the best proposal in the Brazilian oil company's bid for the 7th module in Buzios, in the Santos cluster, with a value of R$ 5.7 billion. TechnipFMC's offer was ahead of proposals by Saipem, with a... Continue Reading →
(Valor) TotalEnergies (formerly Total) promises to intensify investments in renewables, but, at the same time, it is looking closely at the Brazilian oil and gas market. The French oil company, which changed its name to symbolize its migration towards the energy transition, sees Brazil as a strategic player in the search for projects with increasingly... Continue Reading →
Subsea 7 has secured long-term day-rate contracts with Petrobras for the pipelay support vessels (PLSV) Seven Waves, Seven Rio and Seven Sun. Seven Waves will commence the new contract in the first quarter of 2022, Seven Rio in the second quarter of 2022 and Seven Sun in the third quarter of 2022. Each contract comprises a firm three-year period... Continue Reading →
Brazil Energy Insight 