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(Bloomberg) --Brazil is providing one of the few bright spots for oil demand outside of Asia with the coronavirus continuing to ravage the U.S. and Europe. Fuel consumption in Latin America’s largest economy has already surpassed pre-virus levels and is expected to be stronger than 2019 going into next year on the back of robust... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 03/09/2020, informs that it has concluded today the sale of 100% of its stakes in four onshore fields, located in the Tucano Basin, in the countryside of the state of Bahia, to Eagle Exploração de Óleo e Gás Ltda (Eagle). After fulfilling all... Continue Reading →
Norwegian offshore vessel owner DOF Group has won a contract award from the Brazilian oil giant Petrobras. DOF said on Wednesday that Petrobras had awarded a contract to its Skandi Rio vessel. The AHTS18000 Skandi Rio will support Petrobras’ exploration and production activities on the Brazilian continental shelf. The vessel is owned and operated by... Continue Reading →
(Reuters) Brazilian oil company PetroRecôncavo is exploring the possibility of an initial public offering (IPO), three sources said, in a move that illustrates companies' thirst for resources amid a wave of sales of assets in the oil and gas industry in Brazil. The company, based in Salvador, has been working with the support of the... Continue Reading →
The decisions of Petrobras management, led by the current president Roberto Castello Branco, look like aimless ship. The biggest example of this was the cancellation of the tender, announced on Friday night , 25 days before the submission of proposals. The company decided to stop the development of the infrastructure adaptation project of the Monteiro... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs, following up the release disclosed on 12/04/2020 regarding the divestment process of the Urucu Cluster, that its Executive Board approved today a new round of binding offers. Participants in the competitive process will receive a letter of invitation with detailed instructions for the sending of binding proposals. This is... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, based on an evaluation of its portfolio of opportunities and projects, it has decided to interrupt the development of the infrastructure adequacy project of the Monteiro Lobato Gas Treatment Unit (UTGCA), located in Caraguatatuba-SP. The decision was made due to the project's loss of economic attractiveness, evaluated in... Continue Reading →
Petrobras President Roberto Castello Branco defended changes in the rules for oil exploration and production in Brazil, which he classifies as unattractive to business. For him, the sharing regime must be extinguished. Castello Branco participated in an online chat at Rio Oil & Gas, the largest event in the oil and gas sector in Latin... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, regarding the divestment of the Urucu Cluster, clarifies that it has received binding proposals from 3R Petroleum Óleo e Gás S.A. (3R) and Eneva S.A. (Eneva). The proposals are being evaluated by the company, which will subsidize its decision about the... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on July 9, 2020, informs that it has concluded the negotiation phase with the Mubadala Group as part of the process for divesting the Landulpho Alves Refinery (RLAM), in Bahia. As provided by Petrobras' Divestment Methodology, the process is currently undergoing a new round... Continue Reading →
Brazil Energy Insight 