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Booming crude production in the region is helping to offset financial shock caused by Covid-19 Production growth has slowed to a crawl for much of the global oil sector this year. Subdued commodity prices and persistent market volatility have incentivised producers to slash capex and focus on the profitability of existing output until better economic... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of a set of eleven onshore production field concessions, with integrated facilities, located in the Sergipe-Alagoas Basin, in different cities in the state of Sergipe, jointly called the Carmópolis Cluster. The teaser, which includes key information... Continue Reading →
Petrobras' operational performance in 3Q20 was very good, considering the challenging scenario imposed by the COVID-19 pandemic. Our oil and gas production in Brazil grew by 9.0% in the first nine months of this year compared to last year. The production of the pre-salt fields increased by 32%, while in the other areas, post-salt, shallow... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, given the economic context of the COVID-19 scenario, it postponed the Integrated Project of Parque das Baleias by about one year, with the start of operation and first oil to 2024, but preserving the scope of the project that foresees the relocation of wells between platforms in operation... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 29, 2020, informs the beginning of the binding phase regarding the sale of its entire stake in a set of seven onshore and shallow water concessions (Alagoas Cluster) located in the state of Alagoas. Potential buyers qualified for this phase will receive... Continue Reading →
Petrobras is studying resuming the exploration campaign in the deep waters of the Potiguar Basin in 2023, with the drilling of a new well to delimit the discovery of Pitu - one of the few assets that is not being sold by the company in the state of Rio Grande do Norte. - The discovery... Continue Reading →
(Reuters) - A consortium formed by Brazil's 3R Petroleum and DBO Energy, linked to Norway, is in bilateral negotiations with Petrobras to acquire a group of offshore natural gas fields, according to two sources with direct knowledge of the subject. The Peroá Cluster, located on the coast of Espírito Santo, would be among the first... Continue Reading →
Chevron’s market value leapfrogged that of Exxon Mobil for the first time on Wednesday during a week in which it closed a $4.1 billion, all-stock deal for Noble Energy, a smaller oil and gas producer. Chevron’s market cap ended the day around $142 billion, topping Exxon Mobil’s $141.65 billion market value at the end of... Continue Reading →
The conclusion of the operation by which Petrobras PETR4.SA negotiated the sale of its Liquigás liquefied petroleum gas distribution unit to a group formed by Copagaz, Itaúsa and other companies will depend on an agreement with the Brazilian regulatory agency CADE. As published in the Official Gazette, the General Superintendence of the Administrative Council for... Continue Reading →
Oil and gas company Hess Corporation has entered into an agreement to sell its 28 per cent working interest in the Shenzi field in the deepwater Gulf of Mexico to BHP to fund a project in Guyana. Hess said on Monday it is selling its stake to BHP, the field’s operator, for a total consideration... Continue Reading →
Brazil Energy Insight 