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Apr 14, 2020 The oil price crisis, aggravated by the drop in demand due to the new coronavirus pandemic, forces large oil companies to cut costs, cut investments and concentrate efforts on more profitable assets. The scenario, however, is more complex for small and medium producers, who, in general, have fewer opportunities to reduce costs... Continue Reading →
April 14, 2020 The ANP has postponed the deadline for submitting the declarations of commerciality of the discovery assessment plans (PADs) of Quindim (1-BRSA-936D-ESS) and Brigadeiro (1-BRSA-926D-ESS), in block ES-M-525 , in the Espirito Santo Basin. Petrobras, operator of the block, will have another 785 days, counting from July 8, 2019, to deliver declarations of... Continue Reading →
Apr 14, 2020 Petrobras will once again postpone the delivery dates for the proposals for two tenders for the chartering of offshore rigs. In the midst of the Covid-19 crisis and the ongoing contract negotiation process, the oil company evaluates postponing the dates by up to 60 days. The new delivery date for proposals is... Continue Reading →
Apr 14, 2020 The federal government created a new program that aims to modify the rules of the next auctions for oil and gas fields in Brazil. The information is contained in a decree published in today's edition of the Diário de Oficial da União. The text says that the objective is “to increase the... Continue Reading →
Apr 13, 2020 Chinese oil company put stake in concession operated by Petrobras for sale. Sinopec has started farm-out of its 20% stake in the BM-PAMA-8 concession in the Pará-Maranhão Basin. Purchased in the 6th ANP Concession Round, the asset comprises blocks PAMA-M-192 and PAMA-M-194, with a total area of 1,538 thousand km². Source: PetroleoHoje
APR 9, 2020 Petrobrás has notified Enauta and PetroRio, its partners in the Manati field, that the current situation in the Covid-19 pandemic may affect the state's commitment to buy natural gas from the asset. To better understand, it is necessary to remember that the Manati field is operated by Petrobrás (35%), in partnership with... Continue Reading →
Dutch FPSO provider SBM Offshore has confirmed a number of positive coronavirus cases amongst the crewmembers on one of its FPSOs. SBM Offshore said in its company update last week that it had transported several crewmembers with symptoms from an undisclosed FPSO back to shore earlier this month. Continue reading
April 13, 2020 Allocation of the replicating FPSO has been challenging Petrobras' boards and technical teams for years Although Petrobras' current Business Plan (PN) provides for the installation of the FPSO P-71 in the Lula Recovery Factor field (Lula FR, formerly Lula Oeste), the FPSO's fate is still open - with the Itapu field appearing... Continue Reading →
April 13, 2020 State-owned company wants to extend terms and payments due to the fall in demand and oil prices. Sector fears shock over a chain of 500,000 workers After cutting production and employee wages, Petrobras renegotiates contracts with major suppliers to further reduce costs. The goal is to extend delivery and payment terms. The... Continue Reading →
April 9, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has been working to reduce the impacts of the COVID-19 (coronavirus) pandemic on the natural gas chain, since the slowdown in the Brazilian and the global economic activity has the direct effect of reducing the market consumption of natural gas. Therefore, Petrobras proposed the... Continue Reading →
Brazil Energy Insight 