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State-owned Qatar Petroleum has entered into a farm-in agreement with Angola’s national oil company Sonangol and French oil major Total to acquire a 30 per cent stake in Block 48 located in Angolan ultra-deep waters. The block, with a drill-ready opportunity, covers an area of approximately 3,600 square kilometres, and Total expects to start operations... Continue Reading →
Aug, 19, 2020 Ibama renewed the operating license for the Baúna field, purchased by Karoon from Petrobras, in the Santos Basin post-salt. The license is valid until August 2024. Karoon expects to close the purchase of the field with Petrobras by September. The sale of 100% of Baúna was agreed at US$ 665 million, in... Continue Reading →
Aug 19, 2020 The National Energy Policy Council (CNPE) approved the realization of the 17th and 18th bidding rounds in the years 2021 and 2022, respectively. The auctions would be held this year and next, but were postponed due to the crisis triggered by Covid-19 and the drop in world oil demand. In addition, the... Continue Reading →
August 19, 2020 Petróleo Brasileiro S.A. - Petrobras, following up to the announcement made on March 10, 2020, informs that the cash contribution of R$ 2.05 billion to be paid to the Petrobras Social Security Foundation (Petros) was renegotiated due to the macroeconomic scenario and the guidance provided by the Secretariat for Coordination and Governance... Continue Reading →
Guyana's new administration has put a hold on reviewing bids for a contract to lift the government's portion of crude produced offshore and plans to relaunch the tender, Vice President Bharrat Jagdeo said on Friday. The South American country began producing crude offshore in December and in June approved a group of 19 companies to move to... Continue Reading →
August 17, 2020 Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the commencement of an offer (the “Exchange Offer”) by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) to exchange up to U.S.$4,115,281,000 aggregate principal amount of PGF’s newly issued 5.093% Global Notes due 2030 (CUSIP/ISIN: 71647N BE8 / US71647NBE85) (the “New Notes”) registered... Continue Reading →
Aug 17, 2020 The combined production of oil and gas in the Brazilian pre-salt reached 2.7 million barrels of oil equivalent in July, a positive variation of 6% compared to June . With this number, the pre-salt corresponded for 70.8% of national production - this was the first time in history that the wells in... Continue Reading →
Aug 17, 2020 Enauta (ENAT3) signed a contract with Gas Bridge to sell its entire 45% stake in the Manati field in Bahia, the company said in a statement released on Sunday. The transaction involves R $ 560 million, the company said, noting that the amount is subject to the overcoming of contractual conditions and... Continue Reading →
August 14, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 06/18/2018, informs that it signed today with SPE Fazenda Belém S.A., a wholly-owned subsidiary of 3R Petroleum e Participações S.A., a contract for the sale of its entire interest in the onshore fields of Fazenda Belém and Icapuí, called Fazenda... Continue Reading →
Brazil, home to the most severe Covid-19 outbreak in Latin America, is emerging with the region’s shallowest recession this year, thanks to a faster economic reopening and temporary stimulus measures. The nation that trails only the U.S. as a global virus hotspot has seen key indicators including industrial output and retail sales outstrip economist expectations just as stores and... Continue Reading →
Brazil Energy Insight 