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On Wednesday, February 12, Petrobras signed an oil export contract with the Indian state-owned company BPCL - Bharat Petroleum Corporation Limited. The contract provides for a total sales volume of up to 6 million barrels per year and will begin in 2025. "This contract is expected to increase India's share of Petrobras' oil exports. We... Continue Reading →
(Reuters) Brazil's Petrobras wants to buy stakes in African oil assets, mainly in Angola, Namibia and South Africa, to boost its reserves as it expects output to fall after 2030, a senior executive said on Wednesday. The Brazilian state energy firm is in talks with companies, including existing partners ExxonMobi, Shell and TotalEnergies, to buy... Continue Reading →
Subsea7 managed to come out on top and present the best proposal in a Petrobras bidding process for the supply of SURF (subsea umbilicals, risers and flowlines) for the P-83 (Buzios 11) platform vessel. The Norwegian company submitted an offer of R$8.45 billion (US$1.4 billion) in the competition. The Swiss company Allseas came in second... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces the establishment of an Impact Fund for Bioeconomy and Nature-Based Solutions Socio-Environmental Projects (Petrobras Bioeconomy Fund) in partnership with Régia Capital, a management firm focused on sustainable investments and financial solutions. Petrobras allocated R$ 50 million to the Fund, with Régia contributing an additional R$ 50 million. This is... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras hereby informs that it has received, this week, the following contingent payment installments (earnout): (i) R$2.161 billion from the partners of the Sépia and Atapu blocks - TotalEnergies EP Brasil Ltda. (28%), PETRONAS Petróleo Brasil Ltda. (21%) and QatarEnergy Brasil Ltda. (21%) in Sépia; Shell Brasil Petróleo Ltda. (25%) and... Continue Reading →
Highlights – 2024In 2024, Petrobras achieved all the production targets set out in its 2024-2028+ Strategic Plan, within the ±4% range.Total oil and natural gas production reached 2.7 million barrels of oil equivalent per day (boed). Commercial production of oil and natural gas in 2024 reached 2.4 million boed and oil production was 2.2 million... Continue Reading →
In 2024, the Brazilian average annual production of oil and natural gas reached 4.322 million barrels of oil equivalent per day (boe/d), remaining stable compared to 2023. There was a reduction of 0.5% in 2024, compared to the total for the previous year, which reached a record of 4.344 million boe/d. In the case of... Continue Reading →
Chinese EPCI company COOEC has completed the construction of 13 topside modules for FPSO P-79, which will be installed in the Buzios field, in the pre-salt layer of the Santos Basin. The Asian company was responsible for the design, acquisition, construction and onboard installation of the equipment. The modules, which weigh almost 30,000 tons and... Continue Reading →
U.S. oilfield services firm Halliburton has secured a contract from Petrobras for integrated drilling services across several offshore fields in Brazil. The contract scope includes drilling services for development and exploration wells over a three-year period. The contract, expected to begin in 2025, represents Halliburton’s largest service contract with Petrobras, the company said, without revealing... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, pursuant to CVM Resolution 44/2021, informs its shareholders and the market in general that the company's Board of Directors, at a meeting held on this date, decided to cancel all 155,468,500 preferred shares issued by the company held in treasury, without reducing the share capital¸ which were acquired under its... Continue Reading →
Brazil Energy Insight 