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Oil company Enauta informed that it will return the CE-M-661 block, located in the Ceará Basin, after the end of its first exploratory period on site in November this year tothe National Petroleum, Natural Gas and Biofuels Agency (ANP). The company had acquired a 25% stake in the asset in a bidding round held in... Continue Reading →
(Oilprice) The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand, where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to execute... Continue Reading →
Brazilian oil and gas company PetroRio has been granted a royalty rate reduction for the Tubarão Martelo field by the country’s authorities in an effort to incentivize investment in revitalization. Brazil’s National Petroleum, Gas and Biofuels Agency (ANP) approved PetroRio’s Development Plan for the cluster consisting of the Polvo and Tubarão Martelo offshore fields, the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/11/2020, informs that today it signed contracts for the sale of its 20% stakes in Termelétrica Potiguar S.A. (TEP) and 40% in Companhia Energética Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. and GFM Participações S.A.,... Continue Reading →
(Reuters) - Mexico's state oil company Petroleos Mexicanos (Pemex) on Wednesday reported net profit of $722.5 million in the second quarter, swinging from a loss in the same period last year thanks to higher crude prices and production. The company said the 14.4-billion-pesos profit was due to higher income from international sales, which doubled from... Continue Reading →
One year after the start of production, the Atapu field, in the Santos Basin pre-salt, is already among the 10 largest producers in Brazil, having produced in June 111.763 Mboe/d (one thousand barrels of oil equivalent per day ), being 91,881 Mbbl/d (thousand barrels per day) of oil and 3,161 MMm3/d (million cubic meters per... Continue Reading →
The ANP published the notice and concession contract model for the 17th Bidding Round, which contain, respectively, the rules and procedures of the round and the rights and obligations of future concessionaires. This round is scheduled to take place on October 7, with the offer of 92 blocks with exploratory risk, with a total area... Continue Reading →
(Reuters) - The U.S. Justice Department is investigating Connecticut-based trading house Freepoint Commodities over whether payments to employees of Brazil's state-run oil company broke U.S. laws, two sources with knowledge of the matter told Reuters this week. The criminal probe, which is being led by prosecutors in Washington, complements a separate, ongoing bribery investigation into... Continue Reading →
(Reuters) - Brazil's national power grid operator (ONS) said on Friday that severe drought is likely to push the country's power generation capacity to its absolute limit by November, as hydroelectric plants struggle with the water shortages. Latin America's biggest economy is facing its worst drought in almost a century, which is disrupting hydroelectric dams... Continue Reading →
