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August 10, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated July 29, 2020, informs that today it paid Fundação Petrobras de Seguridade Social (Petros) R$ 950 million, regarding the full amount of the agreement with Petros on the arbitral dispute related to the investment in Sete Brasil. The agreement extinguished the dispute... Continue Reading →
Just as the oil and gas industry was starting to get back on its feet, COVID-19 and plummeting oil prices have affected the market across the board, including well intervention. But players in this space are optimistic, with new vessels and more compact intervention systems being planned and hopes that production enhancement will be an... Continue Reading →
Aug 10, 2020 Odebrecht, the parent company of petrochemical Braskem, began the process of selling all of its shareholding in the company. The information was released this weekend, in a document sent to the Securities and Exchange Commission (CVM). “ODB [Odebrecht] started preparatory steps to structure a private sale process of up to the totality... Continue Reading →
Aug 10, 2020 The board of the National Petroleum Agency (ANP) approved the review of the Discovery Assessment Plans (PADs) of the Farfan and Barra wells, in the Sergipe-Alagoas basin, operated by Petrobrás. The regulatory agency determined the replacement of the firm commitment to execute the Long-Term Test (TLD) of well 3-BRSA-1178D-SES for 180 days... Continue Reading →
August 7, 2020 Petróleo Brasileiro S.A. - Petrobras informs that it has started the non-binding phase, referring to the sale of its entire stake in the Atum, Curimã, Espada and Xaréu shallow waters fields (Ceará Cluster) , located in the State of Ceará. Potential buyers qualified for this phase will receive instructions on the divestment... Continue Reading →
August 7, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 06/01/2020, announces the beginning of the binding phase regarding the sale of its stake (35%) in the Manati field, a shallow water offshore production located in the Camamu Basin, in the state of Bahia. Potential buyers qualified for this phase... Continue Reading →
August 7, 2020 Petróleo Brasileiro S.A. – Petrobras hereby announces that it achieved record sales for the S-10 Diesel in the Brazilian market. The Company sold 1.78 million m³, 12.7% higher than the previous record in July 2019, when sales reached 1.58 million m³. The sales record for the S-10 Diesel reflects the rapid commercial... Continue Reading →
Aug 7, 2020 Petrobras officially launched this week the bid for contracting the new platform P-78, which will be installed in the Buzios field, in the Santos Basin pre-salt. International competition will have the opening of proposals scheduled for December 18 this year. As we reported, the platform ship will only have the 25% of... Continue Reading →
Norwegian offshore supply vessel owner Solstad offshore has secured several contract extensions with oil companies Total and Equinor in Brazil. France's Total has extended the contracts for the platform supply vessel Normand Swift and the AHTS vessel Far Sagaris until December 2020. Tge vessels will be used to support Total’s activities in the Lapa field... Continue Reading →
Hefty financial losses and a depressed oil market fail to sway Brazilian NOC from pursuing ambitious upstream strategy The first half of the year was dire for Brazilian state oil firm Petrobras. The producer posted a combined $10.1bn loss, driven mainly by the oil price shock of Covid-19, currency devaluation and $13bn in impairment charges.... Continue Reading →
Brazil Energy Insight 