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Brazil’s real slumped to a new low against the dollar on Tuesday for the third day in a row, with the lack of overseas demand for Brazilian assets against a backdrop of historically low interest rates showing no sign of reversing. The real traded below 4.34 per dollar for the first time ever BRBY, intensifying... Continue Reading →
February 11, 2020 Petróleo Brasileiro S.A. – Petrobras informs about a favorable arbitration award to the company, which rejected a claim made by an investor in Sete Brasil Participações S.A. (in reorganization), in arbitration proceedings seeking compensation from Petrobras for alleged damages related to their investment in the Sondas Project. Due to the favorable outcome... Continue Reading →
FEB 10, 2020 The National Petroleum Agency (ANP) will hold the signing ceremony for the 16th Bidding Round and the 1st Permanent Bidding Cycle next Friday (14). The event will take place at the their central office, in Rio de Janeiro, from 11 am and marks the beginning of expectations for new investments in the... Continue Reading →
Brazil's Petrobras hit a new production record in the fourth quarter, of over 3 million barrels of oil equivalent per day (boepd), thanks largely to the ramp-up of platforms in the prolific pre-salt formation, the state-run oil firm said on Monday. In a securities filing, Petroleo Brasileiro SA, as the company is formally known, said... Continue Reading →
Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending. The downturn was the worst to ever hit the offshore sector. Orders for... Continue Reading →
February 10th, 2019 After several years of stagnation, we have delivered an excellent operating performance. Reaching daily, quarterly and annual oil and gas production records. In 4Q19, oil and gas production reached 3.025 million barrels of oil equivalent per day (MMboed), which represents a new landmark in Petrobras history, as we break through the 3.0... Continue Reading →
February 07, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), regarding the sale of all its equity stake in its Nitrogen Fertilizer Unit III (UFN-III ). The teasers, which contain key information about the asset, as well as the eligibility criteria for selection of potential participants,... Continue Reading →
February 10, 2020 Total plans to drill in block CM-541, in the Campos Basin pre-salt, between the end of this year and the beginning of 2021, informed the company's E&P director, Arnaud Breuillac, during a conference call with analysts last Thursday (6/2). According to the company, there are two “giant world-class” prospects in the asset,... Continue Reading →
Constellation said last week it had secured a three-year drilling contract for the Atlantic Star rig. The Atlantic Star is a midwater semi-submersible drilling rig which was originally constructed in 1976 and was acquired by Constellation in 1997. Continue reading
February 7, 2020 Brazil will receive 10% of the Norwegian oil company's investments in the next two years Equinor plans to drill five high-impact exploratory wells in Brazil over the next two years, the company's vice president and chief financial officer, Lars Christian Bacher, said on Thursday during a conference call with analysts. High-impact wells... Continue Reading →
