- Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/30/2020, informs that the Integrated Processing System (SIP) contract signed with Petrogal Brasil started operating today. The contract provides for Petrogal's access to the gas processing units, owned by Petrobras and located in the states of Rio de Janeiro and São Paulo,... Continue Reading →
BP reports 14-year high profit
(Reuters) - BP's (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production. The strong performance caps a blowout quarter for the top Western oil and gas companies on the back of soaring energy... Continue Reading →
Azule Energy, Angola’s largest independent oil & gas producer, is born
Oil and gas companies BP and Eni have confirmed that Azule Energy, a new 50/50 independent joint venture combining the two companies’ businesses in Angola, has been officially established. Following a memorandum of understanding from May 2021, BP and Eni signed an agreement to form the new JV in mid-March 2022. As announced by the two oil players on... Continue Reading →
Rio Grande do Sul should receive billions in investments for offshore wind power generation
(CPG) Rio Grande do Sul is the Brazilian state with the highest number of projects registered for the construction of parks for the production of offshore wind energy. According to information released by GZH Economia, Rio Grande do Sul currently stands out as the Brazilian state with the highest concentration of companies interested in installing... Continue Reading →
Petrobras’ exploratory program in the Equatorial Margin to begin in November
(PN) Petrobras' long-awaited exploratory program in Foz do Amazonas, on the Brazilian Equatorial Margin, should finally get off the ground in the coming months. According to the company's director of exploration and production, Fernando Borges, the first drilling in the area should take place in November, in a water depth of 2,800 meters. “The licensing... Continue Reading →
Brazil has 54 offshore wind projects in the process of licensing
(Valor) Until the month of April, the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) received requests for environmental licensing for 54 projects for offshore wind power generation, with a total capacity of 133.3 gigawatts (GW) of power. The total energy to be generated in the projects corresponds to almost 70% of the... Continue Reading →
Cade approves sale of Petrobras assets in oil and natural gas fields to BW Energy
The General Superintendence of the Administrative Council for Economic Defense (Cade) approved the acquisition, by BW Energy Maromba do Brasil, of the entire interest in the Golfinho and Canapu fields, 65% of interest in block BM-ES-23 and 100 % interest in the Camarupim and Camarupim Norte fields (Cluster Camarupim), all currently held by Petrobras. The... Continue Reading →
EXCLUSIVE Luxembourg banks told to freeze Ecuador assets amid Perenco dispute, documents show
(Reuters) - A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador at accounts in the country as a result of a dispute over a $391 million settlement award that Anglo-French oil company Perenco says remains unpaid, a document seen by Reuters show. Ecuador's government pledged in June 2021 to honor the debt,... Continue Reading →
EXCLUSIVE Mexico to invest billions in Zama oil field if Talos accepts terms -Pemex CEO
(Reuters) - Petroleos Mexicanos (Pemex) is ready to invest billions of dollars in a disputed major Gulf of Mexico oil field once its U.S. partner Talos Energy accepts Pemex will run the project, the chief executive of the Mexican state oil company said. The 850-million-barrel Zama field has become a bone of contention under President... Continue Reading →
Petrobras on gas discovery in Colombia
Petróleo Brasileiro S.A. - Petrobras confirms the discovery of natural gas accumulation in the Uchuva-1 exploratory well, drilled in deep waters of Colombia, 32 kilometers off the coast and 76 kilometers from the city of Santa Marta, in a water depth of approximately 830 meters. The Uchuva-1 well was drilled in the Tayrona Block, with... Continue Reading →
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