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Figure 1: Courtesy Rystad Energy About the Author: Matt Hale is a Lead Analyst at Rystad Energy, based in Houston, Texas. He covers oilfield services including seismic, drilling, intervention, and abandonment markets. Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20%... Continue Reading →
The total production of Oil and Natural Gas for the month of November 2022 was 3.978 million barrels of oil equivalent per day (boe/d), of which 3.095 million barrels of oil per day (bbl/d) and 140.380 million cubic meters of natural gas per day (m³/d). In oil, there was a reduction of 4.6% in comparison... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Wednesday its board of directors had approved the early departure of chief executive officer Caio Paes de Andrade, which will take effect immediately. Reuters had first reported on Tuesday, citing sources, that Andrade had informed the board of directors of his resignation, ahead of the end of his... Continue Reading →
Marine seismic survey services firm Shearwater GeoServices has won two contracts for 4D seismic surveys with Petrobras for the Jubarte and Tartaruga Verde fields in the Campos Basin offshore Brazil. Combined, the two surveys add eight months to the Shearwater's order book. Financial details were not disclosed. The first contract is for a second... Continue Reading →
(Reuters) The chief executive of Brazilian oil company Petrobras, Caio Paes de Andrade, has informed the board of directors of his resignation, two sources with knowledge of the matter told Reuters on Tuesday. The resignation comes shortly after the country's mines and energy ministry said it would formally appoint Senator Jean Paul Prates to head... Continue Reading →
(Bloomberg) — Brazilian assets tumbled on the first session of 2023 as traders digested plans by President Luiz Inacio Lula da Silva to use state-owned companies to drive economic growth. Petrobras slumped as much as 6.9% in Sao Paulo, the main drag on the benchmark Ibovespa index, which fell 3.1% as of 11:47 a.m. At... Continue Reading →
(Reuters) - Brazil's new mines and energy minister Alexandre Silveira said on Monday that state-run oil company Petrobras (PETR4.SA) would play a leading role in expanding the refining sector, and stressed the importance of developing renewable resources. Petrobras would encourage other groups to join the process, Silveira said during an official event to start his term in... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, in relation to the news published in the media, clarifies that it has not yet been formally communicated of the nomination of Mr. Jean Paul Prates for the Presidency of the Company. Following the usual procedures for nominating the Company's managers, the nominee's name must go through Petrobras' internal governance... Continue Reading →
(Reuters) - The nomination of a Brazilian senator and longtime energy consultant to lead Petrobras (PETR4.SA) suggests President-elect Luiz Inacio Lula da Silva wants the state-run firm to pivot to more renewable energy projects. Since 2019, Petroleo Brasileiro SA has doubled down on deep, and ultra deep-water exploration and production, while also selling off less productive assets... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 10/21/2022, informs the beginning of the binding phase regarding the sale of its onshore fiber optic network. Potential buyers qualified for this phase will receive a process letter with instructions on the divestment process, including guidelines for conducting due diligence and for submitting... Continue Reading →
Brazil Energy Insight 