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(CPG) With new contracts, billion-dollar investments and overcoming a crisis that almost paralyzed the sector, Brazilian companies are ready for a new cycle of growth. The Brazilian maritime support segment has suffered a drastic decline in recent years. In 2014, more than 500 vessels were active in the country, but in 2019, that number fell... Continue Reading →
(Reuters) - Brazil's Petrobras is set to reduce planned investments for next year, despite requests by the government for the state-run oil firm to increase CAPEX, three sources close to the matter told Reuters. The firm foresaw $21 billion of investments for next year, but spending could be down to around $17 billion, according to initial... Continue Reading →
(OE) SLB’s OneSubsea joint venture has secured a major contract by Petrobras to deliver full subsea equipment scope for one of Brazil’s five largest producing assets. As part of the project scope, OneSubsea will provide two subsea production manifolds, one electro-hydraulic distribution unit and additional related services. The project supports the further development of the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on Communication of December 13, 2023 and August, 30, 2024, informs that it has signed the three remaining concession contracts from the 4th Permanent Concession Offer Cycle, acquired in partnership with Shell and CNOOC, at the public session held by the National Agency of Petroleum, Natural Gas and... Continue Reading →
BRAVA ENERGIA (“BRAVA”) (B3: BRAV3) (“Company”), hereby informs its investors and the market in general of the preliminary and unaudited production data for September 2024. (1) Considers the full production of the assets in which the Company has a stake. (2) Considers the production of condensate at the Peroá and Manati assets. (3) In September... Continue Reading →
Petrobras has approved the contracting of 10 new vessels for underwater activities, eight of which are RSV (ROV Support Vessel) and two are AHTS (Anchor Handling Tug Supply). RSV vessels are used in ROV (Remotely Operated Vehicle) operations to perform intervention, inspection, maintenance and repair services for underwater equipment and systems. AHTS vessels are used... Continue Reading →
(Reuters) - A pipeline that would allow Guyana to bring natural gas produced by an Exxon Mobil-led (XOM.N), opens new tab consortium to shore has been connected to two of the project's floating production platforms, Exxon's head for Guyana was reported as saying on Wednesday. The "Gas-to-Energy" project by Guyana's government aims to feed a 300-megawatts power... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras reports that the Total Utilization Factor (FUT) of its refineries reached 96.8% in September, representing the highest monthly result in 2024. As a result, the accumulated FUT for the third quarter of the year (3Q24) reached 95.2%. The third quarter of this year also registered a record in the processing... Continue Reading →
(Bloomberg) Petrobras is nearing a deal with Brazil regulators allowing it to move forward with plans to redevelop the massive Tupi oil field that could reinvigorate the country's stalled production, the company's head of exploration and production Sylvia dos Anjos told Bloomberg on Friday. The company expects to resolve a long-running tax dispute with regulator ANP by year-end... Continue Reading →
(Reuters) - BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40%... Continue Reading →
Brazil Energy Insight 