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Pre-Sal Petróleo published in the Official Gazette of the Union, the notice of the 3rd Union Oil Auction, which will sell more than 55 million barrels of oil owned by the Union in the fields of Búzios, Sapinhoá and Tupi and the Mero Development Area. The auction will take place at B3 on November 26th.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to news published in the media regarding studies carried out by the government to sell Petrobras shares and lose the majority of the Company's shareholding control, informs that it inquired the its controlling shareholder, through the Ministry of Economy (ME), on the existence or not of such studies... Continue Reading →
(OE) The world’s FPSO fleet is getting older, with 55 FPSO units in the global fleet reaching the end of their design life in the next five years, with an additional five having life extension in place. With 19 more FPSOs currently being evaluated for life extension, safety issues and structural integrity concerns come to... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro repeated on Monday that he is considering the privatization of state-run oil company Petrobras (PETR4.SA), remarks that lifted the company's share price. "This is on our radar," the far-right president said during a radio interview. "But privatizing a company is not just putting it on a shelf and whoever offers... Continue Reading →
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 →
Brazil Energy Insight 