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Equinor has suspended its 2020 oil and gas output guidance amid government-imposed curtailments and a glut of supply, and could take further action to scale back activity this year, the Norwegian energy firm said on Thursday. With operations from the North Sea to Africa, the Americas and Asia, Equinor had expected 7% output growth this... Continue Reading →
Brazil’s central bank slashed interest rates more than expected on Wednesday, cutting its benchmark Selic rate by 75 basis points to a record-low 3.00% and previewing another cut as it battles an economic crisis fueled by the coronavirus pandemic. It was Brazil’s biggest rate cut since October 2017 and, recognizing that the downturn will be... Continue Reading →
May 6, 2020 Petrobras received approval from the regulatory authority for the acquisition of a slice of Norwegian Equinor's operations in two exploration blocks in the Espírito Santo Basin. The Administrative Council for Economic Defense (Cade) gave unrestricted endorsement to the businesses, which involve the ES-M-598 and ES-M-673 blocks, according to an order published in... Continue Reading →
May 6, 2020 Petrobras President Roberto Castello Branco said on Tuesday that he expects the global economic recovery to proceed slowly after the new coronavirus pandemic. Given this, he does not believe that oil prices will return to the level of $ 60 or $ 70 a barrel. "The adjustment mechanism [of the industry to... Continue Reading →
May 6, 2020 The Collective Board of ANP approved in Deliberative Circuit No. 411, of April 6, 2020, the final versions of the revision of the public notice and the new model of contract for the Permanent Offer. The final versions were sent to the Federal Audit Court (TCU), under the terms of Normative Instruction... Continue Reading →
May 06, 2020 Petrobras obtained support from Odebrecht to transform Braskem into a company with no defined control, thus facilitating a future sale of its stake in the petrochemical company via the capital markets, said the president of the oil company, Roberto Castello Branco on Tuesday. The executive considered, however, that it is necessary to... Continue Reading →
Fitch Ratings on Tuesday lowered its outlook on Brazil’s credit rating to negative from stable, the latest indication of the severe economic and financial damage being wrought on Latin America’s largest economy by the coronavirus pandemic. Maintaining its “junk-status” BB-minus sovereign credit rating, Fitch said Brazil’s economy is on course to shrink 4% this year... Continue Reading →
May 5, 2020 Petrobras asked Cade for authorization to acquire Equinor's stake in block ES-M-596, in deep waters of the Espírito Santo Basin. The block is operated by the state company with a 50% stake, in partnership with the Norwegian company, which holds the remaining 50%. Source: PetroleoHoje
May 5, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on March 10, related to the New Deficit Equation Plan (New Plan) of the Renegotiated and Non-Renegotiated Petrobras System Petros plans (PPSP-R and PPSP-NR), informs that obtained the approval by the Secretariat for Coordination and Governance of State-Owned Companies (SEST)... Continue Reading →
May 5, 2020 ANP published the Monthly Bulletin of Oil and Natural Gas Production with detailed data for March 2020. This month, 3,739 MMboe / d (million barrels of oil equivalent per day) were produced, of which 2,973 MMbbl / d ( million barrels per day) of oil and 122 MMm3 / d (million m3... Continue Reading →
