Brought to you by Quest Offshore & Southern Cone Consultants
May 15, 2020 PetroRio recorded positive indicators in the first quarter, such as the increase in production and reserves and an Adjusted EBITDA of R $ 238.9 million - almost 12x above the R $ 20.2 million obtained in the same period of 2019. Net profit in the period was R $ 44.5 million, despite... Continue Reading →
The enormous potential that offshore wind energy may be able to offer has been making headlines around the world. In late 2019 the Norwegian energy giant Equinor confirmed that its massive investment in the 88 MW Hywind Tampen Offshore Floating Wind (OFW) farm was going ahead. A few days later the International Energy Agency, IEA,... Continue Reading →
May 13, 2020 Petróleo Brasileiro S.A. – Petrobras, regarding the press releases disclosed on March 18, 2019 and September 11, 2019, which announced the approval of Production Individualization Agreements (AIP) of the Lula, Atapu and Sépia joint reservoirs, in Rio de Janeiro, informs that it executedm Expenses and Volume Equalization Agreements (AEGV) with the respective... Continue Reading →
Bureau Veritas (BV), a provider of testing, inspection, and certification (TIC) services, has formalized guidelines and a classification notation for floating, production, storage and offloading vessels (FPSOs) and floating production units (FPUs) designed for operation in Brazil’s deep waters. BV said on Thursday that the new class notation IVBS-BRA was an independent verification approach that... Continue Reading →
U.S. Energy Information Administration (EIA) on Tuesday noted the Brent oil price remained low despite the recent OPEC+ deal, but added it expected the prices to average $48 a barrel next year. It also warned that the forecast was subject to an increased level of uncertainty due to the COVID-19 situation. EIA reminded that reduced... Continue Reading →
May 08, 2020 Petróleo Brasileiro S.A. – Petrobras reaffirms its commitment to the proposals of the new gas market and informs that the sale prices of the product (which include the molecule and transportation parcels) to the distributors in the new contracts started in January had an average reduction of 36%, in US$/MMBtu, in May... Continue Reading →
May 7, 2020 President Jair Bolsonaro signed a decree that qualifies a pilot project for evaluations in the country on the exploration of unconventional oil and gas (shale) for the Federal Government's Investment Partnership Program (PPI). The inclusion of the initiative in the PPI aims to “support environmental licensing and other measures necessary for the... Continue Reading →
Mexico's oil regulator will extend the time companies have to secure needed permits and plan approvals through the end of this month because of the coronavirus pandemic, it said in a statement on Wednesday. Deadlines will be suspended until at least May 31, according to the regulator known as the National Hydrocarbons Commission. Since last month, the... Continue Reading →
Brazil’s central bank slashed interest rates more than expected on Wednesday, cutting its benchmark Selic rate by 75 basis points to a record-low 3.00% and previewing another cut as it battles an economic crisis fueled by the coronavirus pandemic. It was Brazil’s biggest rate cut since October 2017 and, recognizing that the downturn will be... Continue Reading →
May 6, 2020 Petrobras received approval from the regulatory authority for the acquisition of a slice of Norwegian Equinor's operations in two exploration blocks in the Espírito Santo Basin. The Administrative Council for Economic Defense (Cade) gave unrestricted endorsement to the businesses, which involve the ES-M-598 and ES-M-673 blocks, according to an order published in... Continue Reading →
Brazil Energy Insight 