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Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved today the signing of the Agreement with the Federal Government, which establishes the stakes in each contract and the amount of compensation to Petrobras in the event of a bid for the Transfer of Rights´ surplus volumes in the fields of Sépia and... Continue Reading →
Shareholders of U.S. oil supermajor Chevron are set to vote on proposals aiming to require the oil company to reduce the environmental impact of its products and report on climate business risks. Chevron said in early March that it exceeded its 2023 upstream carbon intensity reduction targets three years ahead of schedule and announced lower... Continue Reading →
A floating facility off the Venezuelan coast has finished offloading crude stored in it for the past two years due to U.S. sanctions, paving the way for output to resume in an oilfield, an official of the facility's operator said on Thursday. Operations to remove crude from the Nabarima floating storage and offloading facility (FSO),... Continue Reading →
The board of the National Petroleum Agency (ANP) approved the sale of 50% of Barra Energia's stake in the Atlanta field, in the BS-4 block, to Enauta. With the endorsement in hand and the 100% share of the asset, the operator is now looking for new partners to proceed with the development of the area.... Continue Reading →
(Reuters) - Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy. The drive among top fossil fuel producers to make fast inroads... Continue Reading →
Norwegian offshore vessel operator Solstad Offshore said Thursday it has won a two-year charter for one of its platform supply vessels in Brazil. The vessel, Normand Starling, will support Shell's activities in the Brazilian waters. The two-year contract is firm for two years, to April 2023 and starts in direct continuation of the current contract... Continue Reading →
Petrobras started a new exploratory campaign on the coast of Espírito Santo. The company started drilling a well in the offshore block ES-M-669, in a water depth of 2,366 meters, where it believes there is potential for pre-salt in the region. The ES-M-669 block was acquired during the 11th Bidding Round, held in 2013 by... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the production expected to start from Mero 1, through FPSO Guanabara, was postponed from the 4th quarter of 2021 to the 1st quarter of 2022. The FPSO will be installed in the Mero field, which belongs to the Libra Block, in the Santos Basin pre-salt area, with a processing... Continue Reading →
The production of Polo Macau, operated by 3R Petroleum in the Potiguar basin (RN), rose 5.3% in March, to 4,866 barrels of oil per day, according to preliminary and unaudited information from the oil company. The average production of natural gas, however, fell slightly, from 910 million cubic meters per day to 902 million m³... Continue Reading →
(Reuters) - Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter, the world’s biggest fuel retailer said on Wednesday, indicating fuel demand recovery has remained slow amid coronavirus restrictions. In a trading update, Shell said it saw refined oil product sales at 3.7-4.7 million barrels... Continue Reading →
Brazil Energy Insight 