Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) India, the world's third-largest crude consumer and importer, has approached Guyana's government about a possible long-term deal to buy the South American country's oil, a Guyanese official said. India has expressed interest in buying one of the 1 million-barrel cargoes Guyana's government is entitled to in order to test the crude in its refineries,... Continue Reading →
(MME) The National Energy Policy Council (CNPE) approved the technical and economic parameters for the Second Bidding Round for the Excessive Volumes of the Transfer of Rights of the Atapu and Sépia Fields. The parameters chosen are derived from robust studies that involve geophysical, geological, reservoir and economic modeling, followed by a multicriteria approach to... Continue Reading →
The Petrobras (40%), CNODC (20%) and BP (40%) consortium returned to ANP the sharing contract for the Peroba exploratory block, which was won in the 3rd pre-salt auction, held in 2017. The area is the first failure of the production sharing auctions, which were resumed under the Michel Temer government after the end of Petrobras'... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the consortium of Libra, constituted by Petrobras (40%), in partnership with Shell Brasil Petróleo Ltda. (20%), Total E&P do Brasil Ltda. (20%), CNODC Brasil Petróleo e Gás Ltda. (10%) and CNOOC Petroleum Brasil Ltda. (10%), having Pré-Sal Petróleo S.A. (PPSA) as contract manager, notified the National Agency of Petroleum,... Continue Reading →
(Reuters) - Brazil’s government is considering using some of the proceeds from an upcoming oil auction to create a fund that would protect domestic consumers from swings in fuel prices, a source with direct knowledge of the matter told Reuters. The proceeds would come from the planned November auction of the Atapu and Sepia deepwater... Continue Reading →
(Reuters) -Oil prices surged 5% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand after the coronavirus lockdowns last year crushed fuel consumption. Brent crude futures rose $3.16, or 5%, to $66.83 a barrel by 1:38 p.m. EDT (1738 GMT). U.S. West Texas Intermediate... Continue Reading →
(Bloomberg) --Argentina’s government is pushing for long-term oil price controls as the South American nation runs out of time to unearth a shale trove in Patagonia. The idea of setting a ceiling and floor on domestic crude prices is being written into draft legislation aimed at spurring oil-and-gas investments, Production Minister Matias Kulfas said in... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved today the signing of the Agreement with the Federal Government, which establishes the stakes in each contract and the amount of compensation to Petrobras in the event of a bid for the Transfer of Rights´ surplus volumes in the fields of Sépia and... Continue Reading →
XP analysts (NASDAQ: XP) reduced the maximum price estimate for the sale of six Petrobras refineries (SA: PETR4) by U$ 5.7 billion, when reviewing their calculations after the Landulpho Alves Refinery (Rlam), was sold for less than market expectations. In the new calculation, which considers some risks related to fuel prices for future refinery owners,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that today it signed agreements with BP Energy do Brasil Ltda (BP) to take over BP's entire stakes in six blocks, located in ultra-deep water in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin. The six blocks... Continue Reading →
Brazil Energy Insight 