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In allowing Luiz Inacio Lula da Silva to walk out of jail last week, Brazil’s Supreme Court has blown open a legal labyrinth that could see the leftist former president return to prison just as easily as run for election again. The second chamber of the Supreme Court will soon hear an appeal from Lula’s... Continue Reading →
Nov 11, 2019 The ANP recommended to the MME the amendment of the CNPE resolution authorizing the extension of the production phase of Round Zero contracts (02/2016). The proposal is to extend the benefit to concessions within the pre-salt polygon, ensuring greater predictability of investments and avoiding early interruption of production. The measure complies with... Continue Reading →
Nov 11, 2019 Petrobras plans to put into operation a total of 10 FPSO’S in the giant Buzios field in the Santos Basin pre-salt by the end of the next decade, including the four already in production. With only four platforms in operation, with 150,000 barrels of oil per day of capacity each, Petrobras has... Continue Reading →
As the weeks ticked down to Brazil’s biggest-ever oil auction, state-run Petrobras held increasingly frantic talks to find potential partners, with the heaviest blow coming when major Exxon Mobil Corp (XOM.N) pulled out days before, according to six people familiar with the matter. While many firms were far from ready to take on enormous signing... Continue Reading →
Nov 8, 2019 On November 4, Petrobras received from the Brazilian Institute of Environment and Renewable Natural Resources (Ibama), the Operating License for the Development of Production and Disposal of Berbigão and Sururu, which will take place through FPSO P-68, within the scope of the Santos Basin Pre-Salt Pole Oil and Natural Gas Production and... Continue Reading →
Nov 8, 2019 Petrobras began a new drilling in the SEAL-M-424 block in the Sergipe-Alagoas Basin. The work on well 3-BRSA-1371-SES is conducted by Transocean's Petrobras 10,000 drillship in 2,696,000 m water depth. The block is part of the BM-SEAL-10 concession. The well is the seventh in the SEAL-M-424 since 2012 and the third drilled... Continue Reading →
Nov 8, 2019 The National Agency of Petroleum, Natural Gas and Biofuels estimates that about 60 offshore platforms will be installed on the Brazilian coast by 2030, mostly in the pre-salt. ANP Director-General Décio Oddone stressed that the lack of bids in the Sepia and Atapu fields, in the TOR round held last Wednesday (7),... Continue Reading →
(Reuters) - Brazil’s state-run oil firm Petrobras wants to further lower its stake in Petrobras Distribuidora SA, the fuel distribution unit it recently privatized via a share offering, the company’s chief executive said on Friday. Roberto Castello Branco added that Petroleo Brasilerio SA, as the company is officially known, has divested 70 oil blocks so... Continue Reading →
(Reuters) - Brazil is willing to have discussions about the future of the energy industry with the Organization of the Petroleum Exporting Countries (OPEC), but has no interest in joining a cartel to set prices and cap production, its economy minister said on Friday. “You have to be there to discuss and inform yourself,” Economy... Continue Reading →
Nov 8, 2019 The pre-salt auction week ends with more than R $ 75 billion collected, the contracting of excess volumes of Buzios and Itapu, which may exceed 10 billion barrels, and the exploration of Aram, with potential to be one of the largest fields in the country. "Still, it left a lot of people... Continue Reading →
Brazil Energy Insight 