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Dec 16, 2019, Odebrecht shifts command at a crucial time for the company. Current group president Luciano Guidolin will be replaced by Ruy Sampaio, currently chairman of the board. The company has a meeting of creditors about the judicial recovery scheduled for Thursday, the 19th. Guidolin is expected to remain a member of the board of directors of... Continue Reading →
December 16, 2019 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on August 14, 2019, reports that it has prepaid today a US$ 5 billion loan with China Development Bank (CDB), due in 2027. This prepayment will lead to the termination of the obligation to preferentially supply, under market conditions and... Continue Reading →
Dec. 16, 2019 Reduction of state company’s presence in other regions creates resistance from workers and politicians In a presentation to foreign investors last week, Petrobras pointed to its future on a map with assets only in the Southeast region and the possibility of investments in logistics to serve Southeast and Midwest, a major consumer... Continue Reading →
December 16, 2019 Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure stage ( teaser) , referring to the sale of its interest in the concession BM-P2, located in the Pelotas Basin, in the state of Rio Grande do Sul. Petrobras and Total are partners in this concession and each has... Continue Reading →
Though overall global upstream investments in 2020 will decrease by around 4%, deepwater will be the only segment expected to grow above 5% next year, spelling a boom for the industry, said a report. Rystad Energy is forecasting that overall global upstream investments in 2020 will decrease by around 4%. Investments in shale/tight oil are... Continue Reading →
Dec 13, 2019 MODEC, the Japanese-based multinational global leader in the construction and operation of floating systems for oil and gas production, plans to open about 800 jobs in the country by 2020. Hiring is a direct response to the company's fleet expansion. , which currently has six vessels under construction - four for the... Continue Reading →
Dec 13, 2019 The National Energy Policy Council (CNPE) has approved the creation of the Committee for Revitalizing the Activities of Exploration and Production of Oil and Natural Gas in Land Areas of the REATE 2020 Program. It will propose measures to improve market conditions and to increase the attraction of small and medium-sized companies... Continue Reading →
December 13, 2019 Petróleo Brasileiro S.A. – Petrobras informs that it has received correspondence from Banco Nacional de Desenvolvimento Econômico e Social ("BNDES"), in which it communicates the intention to evaluate the sale up to the totality of common shares issued by Petrobras in its ownership, through a secondary public offering of shares with broad... Continue Reading →
Brazil “trigger” Most all, it’s drill bit “luck” and reserves that bankroll Equinor, and the company’s long struggle to stay in Brazil — through rising costs, political turmoil and deepwater doubt — might now produce Equinor’s new El Dorado. In a letter to Norwegian DN, CEO Saetre sounded off on Brazil, suggesting current production of... Continue Reading →
Brazilian state-run oil firm Petrobras flagged another major production boost on Wednesday, while formally scuttling a refinery project outside Rio de Janeiro, underlining its laser-like focus on offshore oil exploration and production. At a breakfast with journalists, Petrobras Exploration and Production Director Carlos Alberto de Oliveira said the firm would produce more than 2.7 million... Continue Reading →
Brazil Energy Insight 