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Petróleo Brasileiro S.A. – Petrobras announces that today it signed agreements with BP Energy do Brasil Ltda (BP) to take over BP's entire stakes in six blocks, located in ultra-deep water in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin. The six blocks... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on January 7, 2021, informs that today it finalized the joint sale with Wobben Windpower Indústria e Comércio Ltda (Wobben) of all its stakes (51% Wobben and 49% Petrobras) in the companies Eólica Mangue Seco 3 - Geradora e Comercializadora de Energia Elétrica S.A. (Eólica... Continue Reading →
Companies interested in joining Routes 1, 2 and 3, pre-salt gas pipelines responsible for connecting the largest pre salt fields in the cluster off the coast of São Paulo and Rio de Janeiro, should remain on hold. Petrobras abandons IPO strategy due to simpler modeling, but operation may still be postponed to 2022. Source: PetroleoHoje
Petróleo Brasileiro S.A – Petrobras informs that as of May 1, 2021, the natural gas sale prices for distributors will increase, by 39% in R$/m3, in relation to the last quarter. Measured in US$/MMBtu, the increase will be 32%. The variation results from the application of the supply contract formulas, which link the price to... Continue Reading →
Japan’s floating solutions provider MODEC has made changes to its executive management team following the resignation of its President and CEO. In an update last Friday, MODEC shared that Yuji Kozai had offered to resign from the office of Representative Director, President & CEO, as well as the office of Director, for reasons of ill-health. Following the... Continue Reading →
Offshore oil and gas drilling is set for a rebound this year following a major 2020 pullback when exploration and production companies deferred many activities due to the pandemic and the collapse in oil prices. Lower lifting and breakeven costs at the most prolific offshore oil regions off Brazil and Guyana are setting the stage for... Continue Reading →
Açu Petróleo, a joint venture between Prumo Logística and German Oiltanking, plans to start construction this year, in Porto do Açu, the first private oil tanking park in Brazil. With private investment estimated at R$ 2.5 billion, the project will generate 2 thousand jobs, direct and indirect, during the construction phase. The work is expected... Continue Reading →
Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports. McCaul bases his assessment on data in a new floating production systems report prepared by World Energy Reports. The report provides details for 206 floater projects... Continue Reading →
Japan’s floating solutions provider MODEC has received a notification from Brazil’s Petrobras that its eligibility to participate in new competitive bidding by Petrobras has been suspended for 13 months from 31 March 2021. MODEC said on Thursday that the main basis for this administrative sanction is losses to Petrobras presumably caused by the performance of... Continue Reading →
Petróleo Brasileiro S.A – Petrobras informs that in March it recorded total diesel sales in the amount of 791 thousand bpd, representing growths of 35% and 17% when compared to sales in the same month of 2020 and 2019, respectively. Also in March 2021, Petrobras surpassed the sales record for S-10 Diesel, with low sulfur... Continue Reading →
Brazil Energy Insight 