Cheap oil requires companies to better plan in Brazil, ANP says Oct 20 (Reuters) - Current global oil prices should lead companies operating in Brazil to better plan their field developments, Magda Chambriard, president of oil industry watchdog ANP, said on Tuesday. "The actual price of a barrel of petroleum demands more dedication to planning... Continue Reading →
Norway’s Sevan Drilling investigated for corrupt activities involving Petrobras
Sevan Drilling Ltd: Press Release 16.10.2015 Reference is made to the Company's press release dated 29 June, 2015, regarding Brazilian authorities' investigation into corrupt activities involving Petrobras. In 2011, Sevan Drilling was separated out from the 100% ownership of Sevan Marine ASA and listed separately on the Oslo stock exchange.The Company notes that Sevan Marine... Continue Reading →
Petrobras – Drilling of new wells confirms the Libra area potential
Petrobras - Drilling of new wells confirms the Libra area potential 10/14/2015 Rio de Janeiro, October 14, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the consortium responsible for the Libra area, in the pre-salt of Santos Basin, has concluded the drilling of well 3-BRSA-1310-RJS, located in the central portion of the block. This... Continue Reading →
UPDATE 1-Brazil cuts oil output outlook
RIO DE JANEIRO, Oct 14 (Reuters) - Brazil's oil regulator ANP cut its outlook for petroleum production in Brazil to 4 million barrels a day in 2025 or 2026 from 4.5 million barrels a day in 2022, the agency's director general Magda Chambriard said on Wednesday. The reduction comes after a decline in oil prices,... Continue Reading →
Petrobras – Participation in the ANP’s 13th Bidding Round for exploratory blocks
Petrobras - Participation in the ANP’s 13th Bidding Round for exploratory blocks 10/07/2015 Rio de Janeiro, October 7, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that it has not presented any proposals for the blocks offered during the 13th Exploratory Block Bidding Round of the National Petroleum, Natural Gas and Biofuel Agency (ANP),... Continue Reading →
Petrobras and Oil Majors Sit Out Worst Brazil Round Since 2003
Petroleo Brasileiro SA sat out an oil licensing round in Brazil for the first time ever as the beleaguered state-run oil giant struggles to reduce the industry’s biggest debt load. The country’s National Petroleum Agency sold only 37 of the 266 onshore and offshore blocks it offered in the worst turnout in more than a... Continue Reading →
Brazil’s first oil auction in two years seen as referendum on nation
As Brazil prepares for its first sale of oil exploration rights in nearly two years on Wednesday, the auction is shaping up to be a mini-referendum on the willingness of investors to bet on the future of an industry under pressure and a Brazilian economy in turmoil. Not only has the price of oil fallen... Continue Reading →
Brazil Tries to Shake Oil Industry Gloom With New Bidding Round
Brazil will auction crude-exploration blocks on Wednesday for the first time since a colossal corruption scandal crippled the nation’s oil industry and forced state-run Petroleo Brasileiro SA to scale back investments. More than 260 onshore and offshore areas are up for grabs, including deepwater blocks in the Sergipe-Alagoas basin off the country’s northeastern coast, where... Continue Reading →
BP’s Record Oil Spill Settlement Rises to More Than $20 Billion
The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill will rise to $20.8 billion, an increase of $2 billion from an agreement reached in July, said the U.S. Department of Justice. The settlement is the largest in the department’s history and resolves the government’s... Continue Reading →
Brazil Total Oil & Gas Production – New Monthly Record
Brazil's Oil and Gas Regulatory Agency - ANP, announced that total Brazilian oil production was up 3.3% , month to month, in August. Oil production hit all time high average of 2.547 million barrels per day, breaking the record of 2.457 million barrels per day set on Dec. 2014. Total natural gas production was also... Continue Reading →
Brazil Energy Insight 