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November 1, 2019 Petróleo Brasileiro S.A. - Petrobras, following on the press release issued on 08/08/2019, reports that its subsidiary Petrobras Biocombustíveis S.A. (“PBIO”) completed today the sale of its 50% stake in Belem Bioenergia Brasil (“BBB”) to Galp Bioenergy B.V. (“Galp”), which holds the other 50% stake in the company. BBB was established in... Continue Reading →
Brazilian investigators said on Friday a Greek-flagged ship carrying Venezuelan crude was the source of oil tarring thousands of kilometers of coastline over the past two months. While prosecutors and police did not name the vessel, a prosecutors’ document obtained by Reuters identified the ship as the Bouboulina, owned by Greece’s Delta Tankers Ltd. Police... Continue Reading →
Oct 31, 2019 Petrobras plans to conclude in the first half of 2020 a benchmark project for hiring future FPSOs, seeking to reduce costs, deadlines and increase project quality, Rudimar Lorenzatto, Executive Director of Production & Technology Development said on Tuesday. The main change will be a reduction in the management of interfaces between the... Continue Reading →
Oct 31, 2019 Quarter Highlights Year-to-date Net Revenue of R$ 1.1 billion. Net Revenue of R$ 399 MM in the quarter, a 78% increase vs 3Q18. Adjusted EBITDA (ex-IFRS 16) of R$ 215.9 MM. Highest ever adjusted EBITDA margin (54%). Company lifting cost reduced to U$S 22,9/bbl, lower than 3Q18 (US$ 26.6/bbl). Highest ever adjusted... Continue Reading →
October 31, 2019 ANP projection considers round zero contracts that have been extended for up to 27 years To revive the mature fields of the twelve contracts of round of the zero concession extended by the ANP will require investments of US $ 29 billion over 27 years. The projection was made by Marcelo Castilho,... Continue Reading →
Brazil’s Petrobras aspires to reduce the amount of time from oil discovery to first production at its deepwater fields by almost 50% by 2029, while exploring ways to skip the exploratory drilling phased, an executive said on Wednesday. Petroleo Brasileiro SA (PETR4.SA), as the firm is formally known, wants to cut the period of time... Continue Reading →
Oct 31, 2019 Brazilian oil company Petrobras has reportedly managed to sell the ultra-deepwater drillship Vitoria 10000 after its first auction received no bids. According to the Norwegian rig broker Bassoe Offshore, the drillship was sold earlier this week for around $15 million. “The second auction for the Petrobras-owned drillship, Vitoria 10000, the highest bid... Continue Reading →
October 31, 2019 Petróleo Brasileiro S.A. – Petrobras in addition to the press release issued on October 23, 2019, reports that the signing of the Amendment to the Transfer of Rights Agreement was postponed for tomorrow, November 1, 2019. The new signing date was approved by the company's Board of Directors, as it complies with... Continue Reading →
As global oil firms make ever-bigger bets on Brazil’s massive deepwater fields in its ‘subsalt’ area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile fields that still produce over a third of the country’s crude. The proliferation of niche players, ranging from private equity firms to domestic and international... Continue Reading →
Oct 30, 2019 The oil produced in the pre-salt is increasingly supplying the foreign market and also the cash of Açu Petróleo, owner of the only private oil logistics infrastructure, the T-Oil terminal of Porto do Açu Port. The company's client list includes large oil companies operating in the region. The top three are Petrobras,... Continue Reading →
Brazil Energy Insight 