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Italian cabling company Prysmian Group has secured a new contract with Petrobras to deliver deep-water electro-hydraulic umbilicals and specialized offshore and logistic services. As part of the contract, Prysmian will provide 200 kilometres of subsea umbilicals using both steel tube and thermoplastic technology for upgrades in brownfield and greenfield projects in Brazil. The €66 million... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider... Continue Reading →
(Valor) The president of PetroRio, Roberto Monteiro, said that the company “is ready” to take its next steps in growth. The oil company ended the second quarter with a cash position of R$4.53 billion, after issuing US$600 million in bonds in the period. Among PetroRio's new steps, the company expects to start drilling in 2022... Continue Reading →
The consortium of companies in charge of the Mero project (Bloco de Libra), announced the investment decision for its fourth phase. Located in deep waters, 180 kilometers off the coast of Rio de Janeiro, the block is located in the pre-salt area of the Santos Basin. The FPSO Mero 4 will have a capacity of... Continue Reading →
Singapore’s Dyna-Mac has secured a fabrication project from a Chinese company for a total provisional contract sum of S$114 million (about $84.3 million). The fabrication project was awarded to Dyna-Mac by China Merchants Heavy Industry (Jiangsu) Co. Ltd. (CMHI). The contract with CMHI is for the supply, fabrication, and construction of topside modules to be executed... Continue Reading →
(PetroNoticias) In preparations for the start of operation of the long-awaited Route 3 gas pipeline, Petrobras launched a new nationwide tender for the provision of services and supply of goods involving the onshore stretch of the line. The activities involve commissioning, pre-operation, departure and assisted operation of the onshore portion of Route 3. The bidding... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 01, 2021, informs the beginning of the binding phase regarding the sale of 100% of its interest in the PAR-T-175_R14, PAR-T-198_R12, and PAR-T-218_R12 Concessions, located onshore in the Paraná Basin. Potential buyers qualified for this phase will receive a process letter with... Continue Reading →
Dutch FPSO provider SBM Offshore has signed a letter of intent with Petrobras for a 22.5 years lease and operate contracts of FPSO Alexandre de Gusmão for deployment in Brazilian waters. The Libra consortium partners have also made a final investment decision (FID) for the project. The unit will be deployed at the Mero field... Continue Reading →
(Oilprice) The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand, where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras regarding the pieces of news published in the press clarifies that as a result of its strategy and commitment to generating value, in 2021, it has already distributed R$ 10.3 billion in dividends, of which R$ 3 billion were assigned to its controlling shareholder. Additionally, from January to June 2021,... Continue Reading →
Brazil Energy Insight 