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Nov 29, 2019 The president of the Brazilian oil company, André Araújo, says that any interruption in the bidding agenda would affect the operators and suppliers of the oil and gas chain. Shell considers Brazil an attractive country for the oil and gas industry, but the government must seek actions to maintain its attractiveness in... Continue Reading →
Brazil’s public finances improved in October, Treasury figures showed on Thursday, as a seasonally expected monthly surplus helped reduce the government’s overall deficit this year and keep it on track to come in below target. Still, the 8.7 billion reais ($2.1 billion) primary budget surplus in October was less than economists had expected and social... Continue Reading →
Brazil has experienced a tremendous spurt in crude oil production, propelled by the development of its pre-salt resources. However, taking Brazil’s oil production to its current level certainly didn’t come cheap. Petrobras has paid over 78% of Brazil’s $396 billion bill for exploration (excluding dry well costs), development and operations from 2010 to 2018. This,... Continue Reading →
For a range of reasons not all related to costs, offshore operators have stated their preference for floating production with a recent slew of orders, a report by dedicated floating production watchers said this week. The world’s floating production supply chain — especially those offering front-end engineering and fabrication — can point at the end... Continue Reading →
November 28, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that it signed today with PetroRio Jaguar Petróleo Ltda., subsidiary of Petro Rio S.A. (“PetroRio”), a contract for the sale of 30% stake in the Frade concession, located in the Campos Basin, north coast of the state of Rio deJaneiro for US$ 100 million. Currently,... Continue Reading →
Nov 28, 2019 Petrobras received eight bids for the purchase of Victoria 10,000, the largest of which was $U$ 15 million, after reducing the minimum bid price from $ 47.5 million to $ 5 million. In the first attempt to sell the rig, no proposal was submitted. Vitória 10,000 is a Petrobras rig, but it... Continue Reading →
NOV 28, 2019 Although pre-salt is the crown jewel of Brazil's oil sector, the government is preparing a set of new measures to also stimulate onshore areas. The goal is to almost double production over the next ten years in these fields from 270,000 barrels of oil equivalent daily to 500,000 barrels of oil equivalent... Continue Reading →
November 28, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved, in a meeting held yesterday, the Strategic Plan for the 2020-2024 five-year period, in line with the company's strategic positioning, released on September 26, 2019, where we aim to be the best energy company in generating value for the... Continue Reading →
Itaoca Terminal Marítimo SA (Itaoca Offshore) and logistics provider Peterson Offshore Group have formed a partnership and consulting agreement for development of the Itaoca Offshore project. The Itaoca Offshore project will be a private terminal (TUP), located in Itapemirim, in the Espírito Santo (ES) state in southeast Brazil, designed to provide logistical support to the... Continue Reading →
A former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol Group to favor the firm in contracts with the crude producer, court documents show. Carlos Roberto Martins Barbosa said he collected payoffs between 2003 and 2005 to steer fuel oil contracts... Continue Reading →
