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March 9, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that today it signed an agreement with Eagle Exploração de Óleo e Gás Ltda. (Eagle) for the sale of 100% of its stakes in four onshore fields, located in the Tucano Basin, in the countryside of the state of Bahia, for US$ 3.01 million. The... Continue Reading →
March 6, 2020 - Petróleo Brasileiro S.A. - Petrobras, following the press release disclosed on December 30, 2019, reports that it has entered into a new amendmentto the natural gas supply agreement (GSA) with Yacimientos Petrolíferos Fiscales (YPFB). The amendment signed today refers to the volume of gas contracted in 1999, at the beginning of... Continue Reading →
Mar 5, 2020 The board of the National Petroleum, Gas and Biofuels Agency (ANP) approved the sale of 30% of the Sul do Gato do Mato field (Production Sharing Contract), in the Santos Basin pre-salt, to Ecopetrol. With the new distribution in this block, Shell now holds a 50% interest in the project (previously its... Continue Reading →
Brazil’s currency is weakening so quickly the central bank may soon be forced to set aside its free-market principles and sell dollar reserves to halt the slide. Market volatility is rising, by some measures back to where it was when the central bank last sold foreign exchange reserves in November, and some analysts say the... Continue Reading →
Brazil's government is unlikely to auction the remaining production rights to the "transfer-of-rights" (TOR) offshore oil zone until 2021, Economy Ministry Subsecretary Waldery Rodrigues told Reuters on Friday. The TOR area is a prolific oil-producing region off the Brazilian coast. The government auctioned production rights to two of its subdivisions in November, but two others... Continue Reading →
March 2, 2020 French oil company expects to reach average production of 150,000 barrels a day in the country in five years Enthusiastic with the portfolio built in Brazil in recent years, the French oil company Total plans to invest between US $ 600 million and US $ 700 million per year in exploration and... Continue Reading →
FEB 27, 2020 News of the consortium that is exploring the southern block of Gato do Mato. The Ministry of Mines and Energy published this Thursday (27), in the Official Gazette, its endorsement for the sale, by Shell, of 30% of the area to the Colombian Ecopetrol. The transaction was announced in October last year.... Continue Reading →
FEB 27, 2020 Petrobrás announced this week that it has applied to the Brazilian Institute of the Environment (Ibama) to receive the Installation License for the Búzios 5 platform, which will be implemented in the Santos Basin pre-salt. Currently, according to Petrobrás' annual balance sheet, the FPSO has reached 10% of physical progress completed. The... Continue Reading →
Shell is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government. The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign... Continue Reading →
Guyana's government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December. The government is entitled to a share of the oil produced, and has said it was seeking a marketing agent to help... Continue Reading →
Brazil Energy Insight 