Brought to you by Quest Offshore & Southern Cone Consultants
Mar 24, 2020 A price war between global oil giants is leaving many producers in Latin America struggling to cover production costs, increasing the chances of investment cuts and delays in the coming months. Global oil price benchmarks are experiencing their sharpest declines in decades, in a perfect storm, with declining demand in the face... Continue Reading →
Mar 25, 2020 Brazil's oil production totaled 2.97 million barrels per day (bpd) in February, down 6.2% from a record in January, but still up 19% from the same month in 2019. , pointed out data published by the National Petroleum, Natural Gas and Biofuels Agency (ANP) on its website. The contraction compared to the... Continue Reading →
March 24, 2020 Petrobras launched invitations to bid for the fourth definitive Libra production system Last Saturday (March 21), Petrobras launched invitations to tender for the charter of the fourth final FPSO in the Mero field, scheduled to go into operation in 2025. The submission of proposals was scheduled for 17 August. By then, the... Continue Reading →
Teekay Offshore Partners L.P., a provider of offshore oil production and storage vessels for the offshore oil and gas industry, has changed its name. The company announced Tuesday its name has changed to Altera Infrastructure L.P. effective 24 March 2020. The move comes following the recent acquisition of the company by Brookfield Business Partners L.P.... Continue Reading →
Mar 23, 2020 Amid the 21% drop in Brent-type oil prices, in the past week, oil companies are beginning to move to face the crisis scenario triggered by the covid-19 pandemic and the market dispute between Saudi Arabia and Russia. In Brazil, PetroRio announced that it will postpone investments, while Petrobras resorted to a disbursement... Continue Reading →
Mar 20, 2020 Despite the turbulent scenario, Petrobras kept schedule for receiving offers for a new Libra FPSO. SBM and Misc, belonging to the Petronas group, submitted bids for Petrobras' tender for the charter of the Mero 3 FPSO, which is scheduled to go into operation in 2023 in the Santos Basin pre salt. The... Continue Reading →
Mar 20, 2020 (Reuters) - Brazil’s Senate on Friday approved a presidential decree declaring a national emergency over the coronavirus epidemic, allowing the government to waive fiscal targets and free up budget resources to fight the virus that has killed seven and infected 621 in the country. The decree passed the lower house on Wednesday.... Continue Reading →
March 20, 2020 Petrobras has requested the banks the disbursement of its revolving credit lines, in the amount of around US$ 8 billion. The disbursement is consistent with the strategy of strengthening the company's liquidity in order to protect itself within the current crisis scenario, due to the COVID-19 (coronavirus) pandemic and the oil prices... Continue Reading →
March 20, 2020 Petrobras, due to the prevention measures to the coronavirus, will postpone the receipt of binding offers in the processes of divestment in downstream and its respective logistic assets, in order to ensure the effective performance of due diligence by potential buyers. The processes include the refineries Abreu e Lima (RNEST) in Pernambuco,... Continue Reading →
March 19, 2020 - Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best practices in corporate governance, updates its shareholders and the market in general about the results of the 3rd Phase of Polvo’s (“Polvo”, or “Field”) Revitalization Plan and the resulting impact from lower royalty rates incurring on the production of the new wells.... Continue Reading →
Brazil Energy Insight 