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When asked where the hotspots for 2020 exploration might be, Brown said, “Brazil is the obvious answer”, noting that an increasingly diverse operator mix – including Equinor and Shell among those joining Petrobras in exploring the deepwater pre-salt – will be key to success in the region. “Brazil is on the verge of a revival... Continue Reading →
Royal Dutch Shell (RDSa.L) said on Friday it expects impairment charges of up to $2.3 billion in the fourth quarter and trimmed its forecast for quarterly oil product sales, as the Anglo-Dutch oil company faces slowing demand for oil and gas. The company warned in October that trade tensions between the United States and China,... Continue Reading →
-Patria Investments, Shell and Mitsubishi Hitachi Power Systems Americas (MHPS) have announced the signing of a contract with Brazil’s State-owned development bank (BNDES) to finance the gas-powered Marlim Azul Energia thermoelectric plant, in Macaé (Rio de Janeiro State). The loan approved by the federal bank for the construction of the plant is R$ 2 billion,... Continue Reading →
Dec 19, 2019 Anglo-French Perenco and UK companies Trident Energy and Premier Oil are among the companies studying the purchase of a set of Petrobras oil fields known as Polo Garoupa, seven sources told Reuters in recent weeks. The deliberations are preliminary, and it is possible that neither company will actually buy mature offshore fields... Continue Reading →
December 19, 2019 Royalties are the most traditional form of taxation of mineral resources in the world. It is compensation for the exploitation of a mineral resource designed to ensure that future generations enjoy the benefits that exploitation of the non-renewable natural resource provides to the current generation. In the Brazilian case, according to Law... Continue Reading →
December 18, 2019 PGS Offshore received an environmental license from Ibama authorizing a campaign to acquire 3D seismic data in the area where the exploration blocks of the ExxonMobil, Enauta and Murphy Oil consortium are located in deep waters of the Sergipe Basin. The data acquisition campaign is expected to take 90 days and the... Continue Reading →
December 18, 2019 Petróleo Brasileiro S.A. - Petrobras reports that it has completed the economic feasibility study regarding the completion of the Comperj refinery construction, together with the Chinese company CNPC and its affiliates, under the agreements to implement the strategic partnership, as disclosed to the market on October 16, 2018. The study showed that... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador today announced the expansion of its portfolio in Colombia following a new successful Agencia Nacional de Hidrocarburos (“ANH”) bid round and an... Continue Reading →
Industrial automation giant ABB has signed a new frame agreement to deliver safety and automation systems across Equinor’s installed base and greenfield projects worldwide, helping minimize cost, schedule and risk. The frame agreement continues more than three decades of collaboration, with ABB supporting Equinor to consider innovative opportunities in an era of greener, cleaner energy... Continue Reading →
Large oil companies Exxon Mobil, Hess Corp, CNOOC, BP, Chevron, Total, and Eni are expected to present bids to buy the first three cargoes of Liza crude offered by Guyana's government, the South American country's director of energy said on Monday. A consortium of Exxon, Hess, and China's CNOOC has discovered more than 6 billion... Continue Reading →
Brazil Energy Insight 