Oct 4 - Reuters. Brazilian state-controlled oil company Petroleo Brasileiro SA confirmed it will relaunch the process to order a Floating Production Storage Offloading vessel to explore the presalt area, the company said in a securities filing Tuesday. Petrobras said it cancelled a previous FPSO order because it resulted in prices above those practiced on... Continue Reading →
Elections over, Brazil tackles unpopular spending reforms and the rules for the exploration of Brazil’s vast offshore oil reserves
Brazilian President Michel Temer's government introduced to Congress on Tuesday a landmark constitutional amendment to cap public spending, seeking to press ahead with unpopular reforms in the wake of last weekend's municipal elections. The lower House is also expected to vote on Tuesday on a bill that changes the rules for the exploration of Brazil's... Continue Reading →
Petrobras – Clarifications on the discovery in Albacora, at the Campos Basin
10/03/2016 Rio de Janeiro, October 3, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby clarifies that the discovery of a pre-salt reservoir in the Albacora concession of the Campos Basin, as was reported by the newspaper O Globo on October 3, 2016, occurred in April 2011 with the drilling of the well 6-BRSA-899D-RJS (6-AB-119D). The... Continue Reading →
Petrobras, Statoil extend partnership for old wells
Petróleo Brasileiro SA and Norway's Statoil ASA are expanding an existing partnership to help the Brazilian state-controlled company arrest declining production at aging wells in the offshore Campos Basin, two people with direct knowledge of the plan said. In late August, Petrobras and Statoil signed a memorandum of understanding that has since evolved to targeting... Continue Reading →
Oil production in Brazil rises for 5th consecutive month and renews record with pre-salt push
ANP reported that oil production in Brazil rose for the fifth consecutive month in August, renewing a monthly record of extraction for the third time in a row, with push of Petrobras activity in the pre-salt. Oil production in Brazil in August totaled 2.609 million barrels per day (bpd), 1.1 percent rise compared to July... Continue Reading →
Brazil may let Petrobras sell transfer of rights area oil stakes
Fri Sep 30, 2016 | Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Sao Caetano do Sul, Brazil, September 28, 2016. REUTERS/Paulo Whitaker Brazil's government may let state-led oil company Petrobras sell stakes in offshore oil blocks, known as transfer of rights areas, to help finance their development,... Continue Reading →
Update – Brazil should pass law easing Petrobras subsalt rights this year: IBP
A bill ending the requirement that Brazil's state-controlled oil company Petrobras lead all new projects in the country's Subsalt Polygon region should become law by the end of the year, the president of oil industry association IBP said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has repeatedly said its debt and... Continue Reading →
Statoil Brazil chief says looking at Brazil subsalt opportunities
Wed Sep 28, 2016 | 12:34pm EDT The President of Statoil in Brazil said on Wednesday that the Norwegian oil producer is looking at opportunities in Brazil's offshore oil region known as the Subsalt Polygon. Brazil's government is seeking to end a requirement that state-run firm Petrobras operate all oil fields in the Subsalt Polygon... Continue Reading →
Brazil should pass law easing Petrobras subsalt rights this year -IBP
Wed Sep 28, 2016 | Reuters A bill ending the requirement that Brazil's state-led oil company Petrobras lead all new projects in the country's Subsalt Polygon should become law by year end, Jorge Camargo, president of the country's oil industry association IBP, said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has... Continue Reading →
Petrobras to seek builders for six new platforms as of next year: report
Petroleo Brasileiro SA, Brazil's state-run oil company, as of 2017 will begin seeking offers for the construction of six new offshore oil platforms envisioned in current investment plans, according to a newspaper interview published Sunday. In an interview with O Globo, the biggest daily in the company's home base of Rio de Janeiro, Petrobras' director... Continue Reading →
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