Brazil ANP auction attracts interest of major global oil companies 12/08 / 2015 Amid a declining scenario in oil prices and cuts in investment by the sector, several foreign oil companies should participate in the 13th Bidding Round for Exploratory Blocks. Brazil’s regulatory National Agency of Petroleum (ANP) will disclose the number of subscribers in... Continue Reading →
Two Petrobras Basins: One Safe But Fading, One Is a Costly Bet
The two oil basins off Rio de Janeiro’s coast offer a glimpse into the tough choices Petroleo Brasileiro SA is making as it slashes $77 billion in investments. The Campos Basin along Rio’s north shoreline produces more oil than any other region in Brazil, but output is sliding fast as fields age. The Santos Basin... Continue Reading →
Brazil offshore subsalt holds 176 bln bbls of oil, gas -study
Brazil's Subsalt Polygon, an offshore area that has already yielded some of the world's largest recent oil finds, may hold enough undiscovered petroleum and gas to supply the world's current oil needs for more than five years, researchers said. The Polygon, which covers most of Brazil's Santos and Campos offshore sedimentary basins, contains at least... Continue Reading →
Brazil prosecutors say charges pending over Ensco drillship lease
Brazilian prosecutors plan to file criminal charges stemming from the lease of an Ensco Plc offshore oil-drilling ship to Brazil's state-run oil company Petrobras "in due course," they said. The plan to prosecute over the Ensco-Petrobras charter was mentioned in a Thursday statement presenting corruption charges stemming from the 2009 lease of another drillship, Vantage... Continue Reading →
Shell eyes new Brazilian assets ahead of BG deal
Royal Dutch Shell is considering investing billions in Brazil, set to become a focal point after the planned acquisition of BG Group, even as it prepares to sell huge chunks of its business to pay for the $70 bln deal. Despite a broad drive to cut spending in the face of persistently low oil prices,... Continue Reading →
Brazil Port Sells Terminal Stake Valuing Unit Above Parent
Prumo Logistica SA, the developer of the Acu port in Rio de Janeiro, agreed to sell a 20 percent stake of its oil terminal for $200 million to Marquard & Bahls AG’s Oiltanking GmbH. The deal values Prumo’s oil-terminal unit at $1 billion, or more than 1.5 times the parent company’s market valuation as of... Continue Reading →
SBM OFFSHORE 2015 HALF-YEAR EARNINGS
SCHIEDAM, Netherlands, Aug. 5, 2015 (GLOBE NEWSWIRE) -- SBM Offshore is happy to report better than expected revenue. The Company continues to see a healthy appetite for its projects, as evidenced by the 45% taken up by joint venture partners in the Turritella project as well as the recently announced US$1.55 billion of project financing... Continue Reading →
Brazil Libra area first oil to flow in Q1 2017, Odebrecht says
The first oil output from a long-duration test in Brazil's giant Libra offshore area will flow in the first quarter of 2017, platform joint operator Odebrecht Oil & Gas (OOG) said on Tuesday. That is later than the 2016 second-half start forecast in June by Brazil's state-run oil company Petroleo Brasileiro SA , or Petrobras,... Continue Reading →
Odebrecht Oil & Gas signs U$804 million ten year loan for FPSO
Odebrecht Oil & Gas announced the signing of a 10 year loan, with 7 undisclosed financial institutions, for U$804 million. The purpose of the loan is to build an FPSO for the pre salt Libra field operated by Petrobras. The lease contract was signed shortly after the Libra auction and the vessel is being built... Continue Reading →
Oil industry slams terms of Brazil’s planned block auction
Reuters Mon Aug 3, 2015 9:24pm EDT Oil industry slams terms of Brazil's planned block auction RIO DE JANEIRO | BY MARTA NOGUEIRA Aug 3 Terms for Brazil's 13th Oil Round, in which the government hopes to sell rights to 266 exploratory blocks in early October, "are the worst ever", the Brazilian Petroleum Institute (IBP)... Continue Reading →
Brazil Energy Insight 