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Mexico's Senate on Thursday approved an initiative to remove certain limits on the market power of Petroleos Mexicanos (Pemex), in the latest boost for the state oil company under President Andres Manuel Lopez Obrador. A few days after a congressman from Lopez Obrador's National Regeneration Movement (MORENA) proposed it, the Senate signed off a measure... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has decided to close ICMS (VAT tax) contingencies with the State of Rio de Janeiro, in the total estimated amount of R$ 1.530 billion, through the disbursement of R$ 544 million, with an avoided cost of 64%. The decision is based on the special installment payment program... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that today it expressed to the National Energy Policy Council (CNPE) its interest in the preferential rights in the Second Bidding Round of the Transfer of Rights’ Surplus Volumes under the Production Sharing regime, pursuant to Law 12,351/2010 and Federal Decree 9,041/2017. The company's Executive Board approved the expression... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 3, 2020, informs that the company's Board of Directors, at a meeting held today, approved the sale of its remaining 10% stake in Nova Transportadora do Sudeste S.A. (NTS) to Nova Infraestrutura Gasodutos Participações S.A., a company formed by Nova Infraestrutura Fundo... Continue Reading →
(Reuters) Brazil's antitrust authority CADE said Wednesday it had postponed deadlines for divestitures by state-controlled oil company Petroleo Brasileiro SA, including its refineries, natural gas pipelines and its stakes in natural gas distribution companies. Refineries Isaac Sabba, REFAP and Lubnor may be sold by July 31st. The sale of RNEST, SIX and REGAP needs to... Continue Reading →
(OilPrice) As Guyana prepares to become a major oil production nation the spotlight is firmly on the Guyana-Suriname Basin and the former British colony’s neighbor Suriname. After decades of poor drilling results, ExxonMobil’s slew of large high quality oil discoveries in Guyana’s offshore Stabroek Block has reignited interest in the Guyana-Suriname Basin’s oil potential. Suriname,... Continue Reading →
(TNPetroleo) Government representatives, MME's Secretary of Petroleum and Natural Gas, José Mauro Ferreira Coelho, and the director general of ANP, Rodolfo Saboia, defend the program for the sale of the Petrobras refineries. "We think that divestment in refining is fundamental to create the new market," said Coelho. The secretary argues that, without new investments in... Continue Reading →
(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 →
