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Brazil’s biggest-ever oil auction frustrated expectations on Wednesday, as high prices and the dominant role of state-run oil company Petrobras scared off global oil majors. Petroleo Brasileiro SA (PETR4.SA), as the Brazilian firm is also known, and Chinese state firms CNOOC (0883.HK) and CNODC [CNPC.UL] made the only bids out of over a dozen major... Continue Reading →
November 6, 2019 Petróleo Brasileiro S.A. – Petrobras informs that will be the operator with 90% stake in the consortium with CNODC Brasil Petróleo e Gás Ltda. (5% stake) and CNOOC Petroleum Brasil Ltda. (5% stake), which acquired today the exploration and production rights ofthe surplus volume of Búzios field from the Transfer of Rights... Continue Reading →
Nov 6, 2019 (Reuters) - A consortium led by Brazilian state-run oil company Petrobras and including China’s state-run companies CNOOC and CNODC was awarded the most promising block of the nation’s Transfer of Rights auction on Wednesday. The Buzios block was won by the companies by offering the minimum profit oil allowed for that area,... Continue Reading →
NOV 6, 2019 Almost all set for the FPSO P-70 to sail to Brazil. The information was revealed by the Minister of Mines and Energy, Bento Albuquerque, during a conversation with journalists in Brasilia. “I had the opportunity to visit the FPSO P-70 on my visit to China. It is in the final phase of... Continue Reading →
Brazil is holding what may be the world’s priciest-ever sale of oil prospects on Wednesday, with all eyes on who takes the giant Buzios field. Exxon Mobil Corp. and Royal Dutch Shell Plc are among heavyweights signed up to bid for four deep-water areas known as the transfer-of-rights reserves. It’s a prime piece of real estate at the... Continue Reading →
Seabed Geosolutions, a joint venture between Fugro and CGG, has just completed a deepwater proprietary 3D ocean bottom node (OBN) survey in the Santos Basin, offshore Brazil. The survey, started in late 2018, covered the Buzios field, lying in around 2000 m water depth. Fugro said on Wednesday that, utilizing Seabed Geosolutions’ Manta ocean bottom... Continue Reading →
Nov 5, 2019 In the first half of November, Petrobras will begin drilling its first Uirapuru exploratory well, an area of the Santos cluster that was auctioned off in the 4th round of sharing, in 2018. The campaign will be carried out by Seadrill's West Tellus drillship have a new contract. The chartering of the... Continue Reading →
November 5, 2019 The two exploratory block auctions that the ANP will promote today and tomorrow are marked by record numbers, starting with the huge numbers that generate huge expectations in the industry and in the three Brazilian administrative spheres. Treated by the government as the biggest auction of all time, the TOR round will... Continue Reading →
Brazilian oil workers’ unions have sued to block two massive deep-water crude tenders due to take place this week, while the country’s mines and energy minister said on Tuesday that the tender would be a big success. In Wednesday’s auction, known as the transfer-of-rights (TOR) bidding round, companies are expected to pay up to 106.5... Continue Reading →
As Brazil approaches the biggest oil auction in its history — and one of the world’s most expensive ever — the field of deep-pocketed bidders has narrowed to less than a dozen oil majors. In Wednesday’s auction, known as the transfer-of-rights (TOR) bidding round, firms are expected to pay up to 106.5 billion reais ($26.5... Continue Reading →
Brazil Energy Insight 