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Brazil produced 2.973 million barrels per day of oil in March, up 0.1% from February and up 16.1% from the same month a year before, national oil regulator ANP said on Monday. The figures suggest that production cuts announced at the end of March by state-run oil giant Petroleo Brasileiro SA had a relatively modest... Continue Reading →
May 4, 2020 The crisis caused by the coronavirus pandemic is changing the calendar for the entire oil and gas sector in Brazil. This time, the National Petroleum Agency (ANP) decided to extend to December 31 this year the deadline for Petrobras to conclude the divestments of its fields onshore and in shallow water. The... Continue Reading →
May 4, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in the Manati field, a maritime production concession in shallow waters located in the Camamu Basin, in the State of Bahia. The teaser, which includes key information about the... Continue Reading →
May 4, 2020 Petrobras exported 1 million barrels of oil per day in April. This represents a new oil export record and contributes to strengthening the company's cash flow. The previous record was 771 thousand barrels per day, set in December 2019. The result occurs in a challenging period of the world economy, with high... Continue Reading →
May 4, 2020 Petrobras suspended the result of the bidding process for the acquisition of goods and services to adapt the submarine gas network at Parque das Baleias. Petrobras' bidding committee reviews classification of Brazilian company Prática Engenharia in first place, with the price of R $ 268.492 million, the oil company published a statement... Continue Reading →
Apr 30, 2020 Petrobras intends to acquire Equinor's stakes in blocks ES-M-598 and ES-M-673, in deep waters in the Espírito Santo Basin. They are operated by the Norwegian company with a 40% stake, in partnership with Petrobras (40%) and Enauta (20%). At the end of the operation, Petrobras will hold an 80% interest in both... Continue Reading →
Apr 30, 2020 Seven platforms operated by Brazilian oil company Petrobras in the Campos basin have confirmed cases of the coronavirus among its staff, the FUP oil workers union said on Wednesday. The FUP will ask oil industry regulator ANP and health authorities to halt work on the platforms with the most cases, adding that... Continue Reading →
-Petrobras, Brazil’s state-controlled oil giant, is plowing through a global oil glut expecting that exports to China will soon rebound, and with extensive storage capacity helping it endure in the meantime. Demand destruction from the Covid-19 pandemic has prompted producers globally to shut in barrels nobody wants. While there’s no real winners with oil prices... Continue Reading →
Apr 28, 2020 Petrobras has postponed, once again, the delivery dates for the proposals for two tenders for the chartering of offshore rigs. The receipt of bids was scheduled for April 30, but the bidding committee moved the deadlines to May 30. Amid the Covid-19 crisis and the renegotiation of ongoing contracts bidders see future... Continue Reading →
April 28, 2020 Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors has approved the revision of the top debt metrics included in the 2020-2024 Strategic Plan, replacing the net debt/EBITDA indicator to the gross debt indicator. The review of the metric considered the high volatility of the net debt/EBITDA indicator, extremely sensitive... Continue Reading →
Brazil Energy Insight 