Oil and natural gas producer China National Offshore Oil Corporation (CNOOC) has promoted its executive director and president to the position of the chief executive officer (CEO). CNOOC said that its executive director and president Xu Keqiang was appointed as the CEO of the company with effect from November 19. Continue reading
PETROBRAS FORESEES 10 FPSO’S AT BUZIOS BY END OF NEXT DECADE
Nov 11, 2019 Petrobras plans to put into operation a total of 10 FPSO’S in the giant Buzios field in the Santos Basin pre-salt by the end of the next decade, including the four already in production. With only four platforms in operation, with 150,000 barrels of oil per day of capacity each, Petrobras has... Continue Reading →
Equinor Begins Search for New CEO
Norwegian oil producer Equinor has started a search for a new chief executive, the Stavanger Aftenblad newspaper reported on Friday, citing unnamed sources. CEO Eldar Saetre, 63, who led the company through the oil market's downturn in 2014-2016, has not set a date for his departure, but could step down in 2020, the newspaper reported.... Continue Reading →
Petrobras wants to lower its BR Distribuidora stake even more: CEO
(Reuters) - Brazil’s state-run oil firm Petrobras wants to further lower its stake in Petrobras Distribuidora SA, the fuel distribution unit it recently privatized via a share offering, the company’s chief executive said on Friday. Roberto Castello Branco added that Petroleo Brasilerio SA, as the company is officially known, has divested 70 oil blocks so... Continue Reading →
Petrobras faults high price, regulatory uncertainties for auction failure
Petrobras CEO Roberto Castello Branco said the reason most major oil companies didn’t show up for Brazil’s massive auction was because of the astronomic price tag and regulatory uncertainties. “The amount that companies would need to commit upfront, with license fees and compensation to Petrobras, was too high,” Castello Branco said in an interview Wednesday... Continue Reading →
Petrobras´ Performance – 3Q2019
Oct 24, 2019 MESSAGE FROM THE CEO The company's performance in 3Q19 is already starting to reflect the implementation of our value creation strategy. Oil and gas production reached a record level of 3.0 MMboed in August, when a daily record of 3.1 MMboed was also reached. The ramp-up of the new platforms significantly influenced... Continue Reading →
Petrobras president defends end of pre-salt exploration sharing regime
August 21, 2019 For Roberto Castello Branco, regime does not stimulate the efficiency of companies Petrobras President Roberto Castello Branco defended the end of the sharing regime that is mandatory for the exploration and production of oil in the pre-salt fields. According to Castello Branco, the regime does not encourage the pursuit of efficiency. According... Continue Reading →
Comperj will now be licensed by the Rio government
August 8, 2019 The changes that may be made by Petrobras to the Rio de Janeiro Petrochemical Complex project will now be licensed by the State Environmental Institute (Inea), an environmental agency of the state of Rio de Janeiro, and no longer by Ibama. The move is part of a 10-year technical cooperation agreement... Continue Reading →
Brazil’s Petrobras studies sale of power plants, CEO tells brokerage
Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) is studying the creation of a subsidiary comprised of around 15 power plants, which could then be sold through an initial public offering, analysts at XP Investimentos said in a report sent to clients on Tuesday. Analysts at the Sao Paulo brokerage led by Gabriel Fonseca wrote... Continue Reading →
Brazilian oil giant Petrobras exits renewables business
Brazil's state-controlled oil company Petrobras will scrap plans to invest in renewable energy projects, but says it will continue research and development projects in the field, according to chief executive Roberto Castello Branco. “About renewables, we are investing in research and we will just not invest in operational assets because it is something that requires... Continue Reading →
Brazil Energy Insight 