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(Reuters) Brazil's right-wing president Jair Bolsonaro fired the chief executive of oil producer Petrobras - the second in two months - after the company refused to sell fuels at a discount to consumers warning it would lead to diesel shortages. Bolsonaro also called for the election of a new board, according to a statement released close to midnight local... Continue Reading →
(PN) With an enviable portfolio of new offshore field developments, Brazil is expected to attract around 10% of the resources earmarked for new oil and gas projects worldwide by 2025. In addition, the country will receive a total of US$ 36.7 billion in investments in this period, which will be applied in the development of... Continue Reading →
(TN) Decree 10,946/2022, published in January 2022, established guidelines for the generation of electricity on the high seas and brought good prospects for companies and entities in the sector. With highly favorable natural conditions, it is estimated that the Brazilian offshore wind potential is around 700 GW – four times the country's installed capacity. According... Continue Reading →
(OEM) Offshore accommodation provider Prosafe has agreed with China’s COSCO Shipping on another extension of the delivery of two of its newbuild units, planning to take the delivery once contract opportunities materialize with expectations for Brazil to be the most likely location. Prosafe informed on Thursday that, as part of entering into a global agreement... Continue Reading →
The President of Petrobras, José Mauro Ferreira Coelho, said that the state company is studying investing in offshore wind energy. “We are studying an alternative to capture offshore wind energy in deep and ultra-deep waters in a long-term project”, highlighted the executive at the Global Carbon Market Congress, held in Rio de Janeiro. “In 2020... Continue Reading →
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe. The U.S. will allow European companies still operating in Venezuela to divert more oil to the continent immediately while Chevron will be allowed to negotiate a resumption of operations in the country, according... Continue Reading →
(PN) Petrobras broke the record for processing pre-salt oil at its refineries. In the 1st quarter of 2022, on average, 65% of the oil load processed in the company's refineries originated in the Brazilian pre-salt, a quarterly record. In February 2022, the monthly pre-salt processed volume record was reached with 66%. In 2016, for example,... Continue Reading →
(Reuters) - Brazil's newly appointed Mines and Energy Minister Adolfo Sachsida will face resistance at Petrobras (PETR4.SA) if he pushes to remove import costs from the state-run oil company's fuel price calculations, according to people familiar with the matter. Sachsida has supported the move as a way to ease pressure on consumer prices amid a surge in... Continue Reading →
(Reuters) Equinor and Exxon Mobil Corp have taken the first steps to expand an $8 billion oil development off Brazil's coast, the Norwegian oil producer told Reuters. The firms want to boost future production from the Bacalhau oil field, Equinor's largest project outside of Norway with more than 1 billion barrels of oil, the company said. A... Continue Reading →
(Bloomberg) -- Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. In the past three years, Shell has drilled three exploration wells without finding any commercial volumes, said Marcelo de Assis, the head of Latin... Continue Reading →
Brazil Energy Insight 