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(Reuters) - Petrobras is set to present its new strategic plan for the coming years in November, an executive for Brazil's state-run company said on Wednesday, hinting it should be "consistent" with the current focus on offshore oil formation known as pre-salt. During an oil and gas event in Rio de Janeiro, Petrobras' executive director... Continue Reading →
(TN) Petrobras' divestment strategy was instrumental in boosting competitiveness and expanding production from mature fields in the country. The percentage of mature concessions operated by companies other than Petrobras - increased from 16% in 2010 to 38% in 2021. During this period, the number of operating companies jumped from 24 to 44. companies have given... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that today it signed a contract with Keppel Shipyard Limited for the construction of the P-83 platform, as a result of the advancement of the Búzios field development project, in the Santos Basin pre-salt area. The P-83 will be able to produce up to 225 thousand barrels of oil... Continue Reading →
(U) Petrobras is confident of getting over the final hurdle and obtaining environmental permits to drill at a location close to the maritime frontier of French Guiana Brazil's Petrobras is set to conduct a pre-operational simulation as the final step to obtaining environmental permits to drill a landmark wildcat in the northern Brazilian offshore play... Continue Reading →
(U) The Brazilian government forecasts the country’s oil production will grow 70% by the end of the decade, propelled by multibillion-dollar investments from state-controlled company Petrobras and other operators. Brazil is recovering faster when compared to the world’s largest economies, Mines and Energy Minister Adolfo Sachsida said Monday during the opening ceremony of the Rio... Continue Reading →
Presidential campaign rhetoric raises fears of return to failed policies (U) Brazilian politicians have a long track record of meddling in the country’s oil and gas sector, particularly on the thorny topic of fuel prices. And with Brazil's presidential elections just around the corner, there are fears that a change in government will bring a... Continue Reading →
(U) The first bid round featuring pre-salt acreage under the permanent offer mechanism will be the last auction of the current four-year term of Brazil’s President Jair Bolsonaro. Scheduled for 16 December, the round has attracted interest from supermajors in the US and Europe, as well as from oil companies in Asia looking for a... Continue Reading →
(U) Brazil’s Prio intends to become one of the largest independent oil and gas companies in the Americas and is counting on more than doubling its production over the next two years to meet that target. With a solid cash position of $1.2 billion, the company is simultaneously developing a pair of clusters in the... Continue Reading →
(U) Brazil has for decades been the king of the floating production, storage and offloading vessel market, and it should easily retain the crown for years to come as oil companies operating in the South American nation continue to opt for FPSOs to develop their hydrocarbon resources. Petrobras already has dozens of FPSOs spread across... Continue Reading →
(U) After years of uncertainty and stagnation, the offshore drilling market is making a comeback in 2022, with demand for rigs rebounding around the world. Brazil, one leg of the “golden triangle” of offshore oil and gas — the other two being the Gulf of Mexico and West Africa — is expected to lead rig... Continue Reading →
Brazil Energy Insight 