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Brazil is more likely to reform its struggling oil industry to attract investments if there is a change in government, some of the country’s top oil executives said at an industry gathering in Houston. Brazil is expected to ease Buy in Brazil restrictions and auction exploration acreage more regularly if a new government takes over, Jorge... Continue Reading →
April 27, 2016 01:00 AM Eastern Daylight Time PARIS--(BUSINESS WIRE)--Regulatory News: Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has signed a four years extension of its five-year initial contract signed in January 2011 with Petrobras S.A. for its Flexible Pipes Logistic Base (BAVIT), located in Vitória, Brazil. The scope covers storage, handling, inspection, testing, load-out (two simultaneous... Continue Reading →
Rio de Janeiro, April 20, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its oil and natural gas production in March amounted to 2.55 million barrels of oil equivalent per day (boed), of which 2.36 million boe were produced in Brazil and 183,000 boed abroad. The average oil production in March was 2.02... Continue Reading →
Shareholders of oil-rig venture Sete Brasil Participacoes SA agreed to a plan to file for bankruptcy protection after its single client failed to present a viable book order. A Sete Brasil official confirmed Wednesday that investors are backing the plan and declined to elaborate. Shareholders had set that day as a deadline for Petroleo Brasileiro... Continue Reading →
The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless. The Obama administration is expected to issue the sweeping new regulations Thursday, a person familiar with the decision said, as part of... Continue Reading →
Apr 8, 2016 Reuters Brazil's Petroleo Brasileiro SA said on Friday that output dropped 5.2 percent in February to 2.65 million barrels of oil and equivalent natural gas a day from a year earlier. Petrobras, as the state-run company is known, said the lowest February output in two years was largely due to stoppages for... Continue Reading →
Rio de Janeiro, April 7, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 1082/2016-SAE, which requests the following clarifications: Official Letter 1082/2016-SAE “Dear Sirs, A news item published in the April 6, 2016 edition of the newspaper Valor Econômico states that Petrobras needs oil prices to be higher than US$90 per... Continue Reading →
Rio de Janeiro, March 21, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the Libra Consortium has concluded the drilling and the evaluation of the well 3-BRSA-1322-RJS (3-RJS-741), located in the block northwest area, in the Santos Basin pre-salt, confirming the discovery of good quality oil (28º API) in reservoirs with excellent productivity. The... Continue Reading →
Petroleo Brasileiro SA is marketing offshore oil and natural gas fields worth as much as $2 billion as part of its plan to sell assets and pay down debt, said two people familiar with the matter. Three fields -- Bauna, Golfinho and Tartaruga -- are for sale, said one person, who asked not to be... Continue Reading →
Maersk Drilling is looking into buying used oil rigs to take advantage of low prices and the financial clout of its parent, A.P. Moeller-Maersk A/S. Claus Hemmingsen, the division’s chief executive officer, says the market collapse has created new opportunities and means Maersk Drilling may shift away from a pattern over the past two decades... Continue Reading →
Brazil Energy Insight 