- Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of January. Obs.: (1) Frade figures account for a 70% interest in the Frade Field. On February 5, 2021, the Company announced the closing of the acquisition... Continue Reading →
Petrobras concludes the sale of assets in Uruguay
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on October 2, 2020, informs that its indirect subsidiary Petrobras Uruguay Sociedad Anónima de Inversión (PUSAI), concluded today the sale of its entire stake in Petrobras Uruguay Distribución S.A. (PUDSA), in Uruguay, to Mauruguay S.A., an indirect wholly-owned subsidiary of Disa Corporación Petrolífera S.A.... Continue Reading →
Petrobras concludes the sale of the Frade field
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on November 28, 2019, informs that it has concluded today the sale of its 30% participation in the Frade field, located in the Campos Basin, north coast of the state of Rio de Janeiro, to PetroRio Jaguar Petróleo Ltda., a subsidiary of Petro Rio... Continue Reading →
Rig demand surge in Guyana-Suriname basin as oil majors ramp up exploration and production – Bassoe Rig Analytics
( Bassoe Rig Analytics) While most regions are reporting lower offshore drilling rig activity, South America is bucking the trend - and this time it's not just Brazil driving demand. The South American rig market, led by Brazilian NOC Petrobras, has encountered its fair share of problems over the past years. The 2014 oil price crash... Continue Reading →
Petroecuador says Unipec America wins Oriente crude tender
(Reuters) - Ecuador’s state oil company Petroecuador said on Thursday that trader Unipec America Inc had won a tender to purchase some 2.16 million barrels of Oriente crude at a discount of $0.79 per barrel to front month West Texas Intermediate (WTI) crude). Houston-based Unipec America is a unit of Beijing-based Unipec, the trading arm... Continue Reading →
Norway’s Aker BP Eyeing Foreign Oil Assets. Brazil is Interesting, CEO Says
Norway's Aker BP could expand its oil and gas business to other countries if it comes across competitive opportunities abroad, its chief executive told Reuters on Thursday. Any move to invest outside its native Norway would be a change of strategy for Aker BP, which was founded in 2016 through the combination BP's Norwegian unit... Continue Reading →
Shell’s 2020 Profit Slumps 71%
Royal Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company's retail network and trading business helped cushion the blow. The Anglo-Dutch oil major's annual profit slumped 71% to $4.8 billion as its oil and gas production and profits from... Continue Reading →
Offshore EPC awards set for rebound in 2021
Outlook for the offshore engineering, procurement and construction (EPC) market in 2021 looks promising, boosted by projects deferred from 2020, according to market research provider Westwood. With a forecast of $29 billion firm or already awarded contracts and a further $16 billion of probable and possible awards, 2021 could, reportedly, match 2019’s $40 billion total.... Continue Reading →
CADE APPROVES SALE OF TOTAL’S PARTICIPATION IN FOZ DO AMAZONAS BLOCKS TO PETROBRAS
The Administrative Council for Economic Defense (CADE) approved the sale of Total's stake in blocks from Foz do Amazonas to Petrobras. As a reminder, in September last year, the French oil company gave up on the business after successive unsuccessful attempts to obtain Ibama's environmental license for drilling wells in the areas. Petrobras will keep... Continue Reading →
Gato do Mato FPSO has only two proponents
After some postponements, Shell receives proposals for the chartering of the production unit of its project in the Santos Basin Modec and the BW Offshore / Saipem consortium submitted a technical proposal for Shell's bid for the chartering of the Gato do Mato FPSO. The delivery of commercial offers will only be delivered on March... Continue Reading →
Brazil Energy Insight 