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Jun 29, 2020 In the middle of one of the biggest crises in the oil and gas sector, two new companies specializing in recovering mature fields will start operations this year in the Brazilian market. However, 3R Petroleum and Trident Energy will face a very different scenario than the two expected when they signed, in... Continue Reading →
Jun 29, 2020 The government is making progress in developing guidelines for Petrobras' divestments in the refining sector. On Friday (26), the Ministry of Mines and Energy (MME) announced a new position by the National Petroleum Agency (ANP) on the subject. The guideline states that the refinery's logistics infrastructure must be operated by companies other... Continue Reading →
Jun 29, 2020 The National Petroleum Agency (ANP) approved the revisions of eight of the ten fields that were owned by Petrobras and were taken over by Trident Energy. The areas in question are: Badejo, Linguado, Marimbá, Piraúna, Bonito, Enchova, Enchova Oeste and Trilha, all located in the Campos Basin. The ANP also approved the... Continue Reading →
Jun 26, 2020 Onshore exploration in Brazil has taken a new step. Imetame Energia declared the commerciality of the Campainha Azul field, located within the POT-T-569 block, in the Potiguar Basin. The asset is in the state of Rio de Grande do Norte and was acquired during the 11th Bidding Round. The field is operated... Continue Reading →
The Norwegian Ministry of Petroleum and Energy has announced its plans to offer up to 136 new oil exploration blocks in Norway’s 25th licensing round. The Ministry said on Wednesday that the 25th licensing round in Norway would open eight new regions of the Barents Sea that were unavailable for exploration and one region of the... Continue Reading →
Jun 22, 2020 Brazilian production still feels the demand effects of the coronavirus pandemic and suffered a further drop in May. During the period, 2.77 million barrels were extracted per day, which represents a decrease of 6.52% in comparison with the previous month. Meanwhile, natural gas production also declined in May. Altogether, there were 114.3... Continue Reading →
Exxon Mobil Corp has restored crude output at its nascent project off Guyana's coast after addressing problems with gas reinjection equipment, the South American country's environmental regulator said on Friday. Output at the offshore Liza field, which Exxon operates in a consortium with Hess Corp and CNOOC Ltd has been restored to between 80,000-90,000 barrels per day... Continue Reading →
Jun 19, 2020 The ANP collegiate board approved the assignment of rights to 10 Petrobras concession contracts to Trident Energy do Brasil, referring to the Pampo and Enchova clusters, covering the fields of Badejo, Bicudo, Bonito, Enchova Oeste, Enchova, Sole, Marimbá, Pampo, Piraúna and Trilha. The assignment is part of Petrobras' divestment plan. The ten... Continue Reading →
(Reuters) - Brazil’s central bank will likely be forced to put aside its misgivings and cut interest rates much further, testing the “lower bound” of rates as it battles against potentially the biggest economic crash on record and historically low inflation. A debate over the lower bound, which has consumed various global central banks in... Continue Reading →
Brent crude rose above $40 a barrel as broader markets rallied on stimulus from the Federal Reserve and physical supplies continued to look tight. Futures in London rose for a second session. India’s oil minister said consumption in the first half of June had recovered to levels about 15% to 20% below a year ago,... Continue Reading →
Brazil Energy Insight 