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Oil major BP now expects to deliver divestment proceeds and announced transactions totalling around $10 billion by the end of 2019, comprising the majority of its two-year divestment program planned to complete by the end of 2020. Following the $10.25 billion all-cash acquisition of US onshore assets from BHP in 2018, BP announced a $10... Continue Reading →
Oil major Chevron has been awarded two offshore blocks in the Santos and Campos basins as part of Brazil’s 16th Bidding Round for oil and gas exploration blocks, with its partners Wintershall Dea and Repsol. Wintershall Dea said on Thursday it would hold an interest of 20% in the blocks S-M-766 and C-M-845, alongside its... Continue Reading →
France’s Total SA (TOTF.PA), the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for Nov. 6 of the so-called Transfer of Rights area in Brazil’s pre-salt region. The company’s chief executive officer, Patrick Pouyanné, said in a statement that was because... Continue Reading →
Oct 10, 2019 With a premium of 322%, the result was a record in rounds under the concession regime. RIO - The 16th Bidding Round, held on the morning of Thursday, 10, was marked by the presence of large oil companies. The government raised R$ 8.915 billion in signing bonuses from 11 companies and consortia... Continue Reading →
October 10, 2019 - Petróleo Brasileiro SA - Petrobras reports that it has acquired one offshore block in the 16th ANP Bidding Round under the Concession Regime, held today by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The company is advancing its partnership strategy and will be the operator. The total amount... Continue Reading →
Oct 10, 2019 As anticipated by PetróleoToday, Shell began the Alto de Cabo Frio Oeste exploratory campaign, a 3rd round sharing area located in the Santos Basin. The Constellation Brava Star drillship will drill well 1-SHEL-31-RJS in a 1,720 m water depth. The work continuous after drilling the pioneer well of Sul do Gato do... Continue Reading →
Oct 10, 2019 (Reuters) - A consortium of France’s Total SA, Qatar Petroleum and Petronas won the exploration and production rights for an offshore block near Brazil’s coveted offshore pre-salt region on Thursday, agreeing to pay the government a signing bonus of 4.029 billion reais ($978 million). Total, which has a 40% stake in the... Continue Reading →
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks. Combined, the minimum signing bonuses for the blocks in the so-called 16th post-salt oil bidding round in... Continue Reading →
German oil and gas company Wintershall Dea has farmed down a 30% participating interest in its three Potiguar offshore exploration blocks to the subsidiary of Murphy Oil Corporation in Brazil. The subsidiary, Murphy Brasil Exploração e Produção de Petróleo e Gás Ltda, will become Wintershall Dea’s partner in blocks POT-M-857, POT-M-863, and POT-M-865. Wintershall Dea said... Continue Reading →
October 09, 2019 Petróleo Brasileiro S.A. - Petrobras reports that, following up to the Strategic Partnership signed on 12/18/2017, celebrated today a Memorandum of Understanding (MOU) with Equinor ASA – Equinor, a company based in Oslo (Norway), focused on the joint development of businesses related to the value chain of natural gas produced from the... Continue Reading →
Brazil Energy Insight 