Rio de Janeiro, October 06, 2016- Petróleo Brasileiro SA - Petrobras announces that it is negotiating with Karoon Gas Australia Ltd the sale of its participation in the Baúna and Tartaruga Verde fields. The potential transaction considers the sale of 100% of the stake in the Baúna field, located in shallow waters of post-salt Santos... Continue Reading →
Brazil’s Petrobras says in talks with Karoon for stake in two fields
| Thu Oct 6, 2016 | Reuters Brazilian state-controlled oil company Petroleo Brasileiro SA said on Thursday it was in talks with Karoon Gas Australia Ltd to sell stakes in the Bauna and Tartaruga Verde fields. Petrobras said the talks concerned a 100 percent stake in the 45,000 barrel-a-day Bauna field, situated in the Santos... Continue Reading →
Brazil Opens Oil Fields to Foreign Firms in Key Policy Shift
Brazil’s Congress voted on Wednesday night to open up its pre-salt oil fields to foreign investors by scrapping Petroleo Brasileiro SA’s obligation to be the area’s sole operator. The legislation was approved by a 292-to-101 vote, following a bad-tempered debate during which opponents, many dressed in the orange jumpsuits of the state-controlled oil company, repeatedly... Continue Reading →
Brazil leniency deals on hold for corruption probe: minister
Negotiations on leniency deals between the Brazilian government and 12 companies blacklisted in the Petrobras corruption scandal have been put on hold until prosecutors conclude plea bargains with executives, Brazil's anti-corruption minister told Reuters. Transparency Minister Torquato Jardim said he was keen to get the construction firms back to work on government contracts once they... Continue Reading →
Brazil’s Petrobras relaunches order for presalt oil exploration vessel
Oct 4 - Reuters. Brazilian state-controlled oil company Petroleo Brasileiro SA confirmed it will relaunch the process to order a Floating Production Storage Offloading vessel to explore the presalt area, the company said in a securities filing Tuesday. Petrobras said it cancelled a previous FPSO order because it resulted in prices above those practiced on... Continue Reading →
Petrobras Fuel Unit Sale Said to Lure Brazil Banking Clans
The Brazilian bankers who joined forces last decade to form Latin America’s largest lender are seeking to buy control of the country’s giant fuel distribution business from Petroleo Brasileiro SA, people with direct knowledge of the matter said. The Setubal and Vilella families’ Itausa - Investimentos Itau SA and the Moreira Salles family’s Cambuhy Investimentos... Continue Reading →
Petrobras – Clarifications on the discovery in Albacora, at the Campos Basin
10/03/2016 Rio de Janeiro, October 3, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby clarifies that the discovery of a pre-salt reservoir in the Albacora concession of the Campos Basin, as was reported by the newspaper O Globo on October 3, 2016, occurred in April 2011 with the drilling of the well 6-BRSA-899D-RJS (6-AB-119D). The... Continue Reading →
Brazil’s Petrobras sends documents to potential bidders of fuel unit
Mon Oct 3, 2016 | Reuters A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/Ueslei Marcelino/File Photo State-controlled oil company Petróleo Brasileiro SA (PETR4.SA) has sent documents to potential bidders presenting the sale of subsidiary Petrobras Distribuidora SA, formally launching a reworked plan to sell a... Continue Reading →
Petrobras, Statoil extend partnership for old wells
Petróleo Brasileiro SA and Norway's Statoil ASA are expanding an existing partnership to help the Brazilian state-controlled company arrest declining production at aging wells in the offshore Campos Basin, two people with direct knowledge of the plan said. In late August, Petrobras and Statoil signed a memorandum of understanding that has since evolved to targeting... Continue Reading →
Oil production in Brazil rises for 5th consecutive month and renews record with pre-salt push
ANP reported that oil production in Brazil rose for the fifth consecutive month in August, renewing a monthly record of extraction for the third time in a row, with push of Petrobras activity in the pre-salt. Oil production in Brazil in August totaled 2.609 million barrels per day (bpd), 1.1 percent rise compared to July... Continue Reading →
Brazil Energy Insight 