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In November 2007 Brazil’s national oil company, Petrobras, shocked the E&P world by announcing a 5-to-8-Bbbl discovery in a completely unknown geological play: carbonate reservoirs below a 2-km layer of salt, offshore Brazil, in a 2,000-m water depth. This announcement marked the beginning of a complete turnaround in the history of Brazil’s oil and gas... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the revision of the Shareholders Compensation Policy in order to enable the Management to propose the payment of dividends compatible with the company's cash generation, even in years with accounting losses. With the changes approved, in the scenario... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit's physical progress. It was also agreed to prepare a new Development Plan... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras approved yesterday the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have signed contracts, agreements... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs, regarding the news published in the media, that it received yesterday binding proposals for the sale of its 51% stake in Gaspetro S.A. (Gaspetro) and the proposal of Compass Gás e Energia S.A. was one of those received. The receipt of binding proposals is one of the stages of... Continue Reading →
Booming crude production in the region is helping to offset financial shock caused by Covid-19 Production growth has slowed to a crawl for much of the global oil sector this year. Subdued commodity prices and persistent market volatility have incentivised producers to slash capex and focus on the profitability of existing output until better economic... Continue Reading →
(Reuters) - Brazil advanced to the position of third largest supplier of crude oil to China in September, import data showed on Sunday, while independent Chinese refiners obtain cheap, relatively high quality supplies from the South American exporter . Imports of the Brazilian product reached 4.49 million tons, compared to 2.96 million tons a year... Continue Reading →
News in exploratory activity in the Campos Basin. Petrobras started drilling the first well in block C-M-411 this week. The operation is being carried out with the West Tellus drillship, in a water depth of 2,953 meters. The pioneer well was named after the technical name 1-BRSA-1377-RJS. As a reminder, block CM-411 was purchased by... Continue Reading →
Industries are adapting to an increasingly digitalized landscape. The floating production, storage and offloading (FPSO) industry is no different. As concerted efforts are made to improve project economics Matt Tremblay, ABS Senior Vice President, Global Offshore, discusses how digitalization can increase safety, reduce costs, and build robust technical and operational capabilities. No one could have... Continue Reading →
Petrobras and Diamond signed a charter contract for the semi-submersible Ocean Courage. Equipped with MPD, the rig will operate exclusively in production sharing partnership projects, running campaigns in the Dois Irmãos, Entorno de Sapinhoá and Três Marias areas, located in the Campos and Santos basins. Source: PetroleoHoje
