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Brazil federal prosecutors on Wednesday said shipping companies Maersk, Tide Maritime and Ferchem were targets in the latest phase of a wide-ranging corruption probe for alleged graft involving shipping contracts with state-run oil firm Petrobras. Prosecutors said in a statement that at least $3.4 million in bribes were allegedly paid in relation to 11 contracts... Continue Reading →
Dec 18, 2019 Petrobras plans to invest U$ 49.5 billion in production development projects between 2020 and 2024 The Buzios field, in the Santos Basin pre-salt, will receive the largest volume of investments foreseen in the Petrobras 2020-2024 Strategic Plan. The projection is that the asset will absorb U$ 18 billion over the next five... Continue Reading →
China’s Sinopec and U.S.-based EIG Global Energy Partners have delivered non-binding offers to buy Brazilian refinery REGAP from state-run oil firm Petrobras, three people with knowledge of the matter said. With a processing capacity of 150,000 barrels per day, REGAP is the fifth-largest refinery of eight up for sale by Petrobras, as part of a... Continue Reading →
December 17, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 11/01/2019, announces that it has started the binding phase referring to the sale of its interest in fifteen onshore exploratory blocks, located in the Sergipe-Alagoas Basin. Qualified parties for this phase will receive a process letter with instructions on the... Continue Reading →
December 16, 2019 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on August 14, 2019, reports that it has prepaid today a US$ 5 billion loan with China Development Bank (CDB), due in 2027. This prepayment will lead to the termination of the obligation to preferentially supply, under market conditions and... Continue Reading →
Dec. 16, 2019 Reduction of state company’s presence in other regions creates resistance from workers and politicians In a presentation to foreign investors last week, Petrobras pointed to its future on a map with assets only in the Southeast region and the possibility of investments in logistics to serve Southeast and Midwest, a major consumer... Continue Reading →
December 16, 2019 Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure stage ( teaser) , referring to the sale of its interest in the concession BM-P2, located in the Pelotas Basin, in the state of Rio Grande do Sul. Petrobras and Total are partners in this concession and each has... Continue Reading →
December 13, 2019 Petróleo Brasileiro S.A. – Petrobras informs that it has received correspondence from Banco Nacional de Desenvolvimento Econômico e Social ("BNDES"), in which it communicates the intention to evaluate the sale up to the totality of common shares issued by Petrobras in its ownership, through a secondary public offering of shares with broad... Continue Reading →
Brazil “trigger” Most all, it’s drill bit “luck” and reserves that bankroll Equinor, and the company’s long struggle to stay in Brazil — through rising costs, political turmoil and deepwater doubt — might now produce Equinor’s new El Dorado. In a letter to Norwegian DN, CEO Saetre sounded off on Brazil, suggesting current production of... Continue Reading →
Brazilian state-run oil firm Petrobras flagged another major production boost on Wednesday, while formally scuttling a refinery project outside Rio de Janeiro, underlining its laser-like focus on offshore oil exploration and production. At a breakfast with journalists, Petrobras Exploration and Production Director Carlos Alberto de Oliveira said the firm would produce more than 2.7 million... Continue Reading →
Brazil Energy Insight 