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Aug 5 (Reuters) - India's top explorer, Oil and Natural Gas Corp (ONGC), hopes to soon sign agreements with Venezuela to operate two oil blocks under the South American nation's new petroleum law, its finance chief said on Wednesday. State-run ONGC, through its overseas investment arm ONGC Videsh, holds a 40% stake in the San... Continue Reading →
May 1 (Reuters) - Venezuela's oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by more sales to the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday. The South American country has been draining oil inventories... Continue Reading →
April 30 (Reuters) - Brazil's Petrobras has cut to zero its oil exports to the U.S., as the conflict in Iran reshaped oil flows across the world and China became the destination for around 62% of the state-run oil firm's crude sent abroad in the first quarter. Petrobras exported about 1.12 million barrels per day of... Continue Reading →
April 9 (Reuters) China imported a record volume of oil from Brazil in March, boosting Brazilian exports of the commodity to the second highest level in the historical series, amid a reorganization of global energy flows following disruptions in the Middle East. The Asian country bought 1.6 million barrels per day (bpd) of Brazilian oil... Continue Reading →
Dec 31 (Reuters) - Indian Oil Corp purchased its first Colombian oil under an optional supply deal with state oil company Ecopetrol, two people familiar with the matter said, as India's top refiner seek to diversify from Russian oil. Indian refiners are scouting for crude as tighter U.S. and European Union sanctions on Moscow's producers and... Continue Reading →
(Reuters) Petrobras aims to make Africa its main region of development outside Brazil, the state-run oil giant's CEO told Reuters on Thursday during a wide-ranging interview about the company's strategy. Ivory Coast has extended the "red carpet" for Petrobras to explore deep and ultra-deep waters off its coast, when it gave the company preference in... Continue Reading →
(PN) Petrobras' Director of Exploration and Production, Sylvia dos Anjos, detailed the company's next steps in Brazil and abroad during a press conference. One of the company's focuses continues to be the Aram area, in the pre-salt layer of the Santos Basin, where two new drillings are planned, following the second discovery of oil in... Continue Reading →
(Reuters) - Brazil's Petrobras is weighing opportunities from an oil block auction set to take place this year in India, said the state-run oil firm's head of exploration and production, Sylvia dos Anjos, on Thursday. Petrobras has already collected data to analyze the potential of the offshore areas on offer in deep and ultra-deep waters,... Continue Reading →
(PN) In a last-ditch effort to take home a billion-dollar contract and enter the Brazilian market, Indian company Shapoorji Pallonji Energy filed an appeal with Petrobras to try to reverse the cancellation of the bidding process for the new Barracuda and Caratinga FPSO. The bidding process for the platform was launched in August 2023. Only... Continue Reading →
(gfmag.com) With US investment in Latin America shrinking, China and India are seizing the opportunity to expand their economic reach in the region. The US remains the largest foreign investor, but its stake dropped nearly 10% in 2023 alone, to 38% of the $224.6 billion total, according to the UN Economic Commission for Latin America... Continue Reading →
Brazil Energy Insight 