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Guyana’s total annual oil revenues could hit $30 billion over the next 10 years with production estimated to reach 1.2 million barrels per day by 2030, according to Rystad Energy. Rystad said on Tuesday that Guyana was poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil... Continue Reading →
February 1, 2020 President Jair Bolsonaro last Friday (31) appointed executive secretary of the National Petroleum Agency (ANP) José Gutman as the first replacement in the event of a vacancy on the board of the regulatory body. The triple replacement list was instituted in the new General Law of Regulatory Agencies, sanctioned by Bolsonaro himself... Continue Reading →
The U.S. government is ready to help Brazil design more effective oil auctions, the U.S. secretary of energy said on Sunday, after the South American nation's attempt to sell tens of billions of dollars of production rights to private firms last year largely flopped. In November, Brazil, a staunch U.S. ally under far-right President... Continue Reading →
Jan 31, 2020 In 2019, the Brazilian production of oil and natural gas was 3.559 million barrels equivalent per day (MMboe / d), totaling 1.299 billion barrels of oil equivalent, an increase of 8.1% in relation to 2018. The State of Rio de Janeiro, where the Lula and Búzios fields are located, has been increasing... Continue Reading →
Jan 30, 2020 In 2016, the National Petroleum Agency (ANP) extended the concession contract for the Ubarana field until 2034. It is also there that Petrobras intends to install its first offshore wind project in the country, with a wind turbine tower, an anemometric tower and an electric-optical umbilical submarine cable approximately 1 km long,... Continue Reading →
Jan 29, 2020 Petrobras obtained from Ibama the license for the environmental regularization of drilled wells and the production activities of eleven fields in shallow waters in the Northeast, which the company is selling or has already sold. The measure, according to sources that accompany the negotiations, is essential for the company to be able... Continue Reading →
Jan 30, 2020 With the possibility of postponing to 2021 the auctions under the sharing regime and the surplus Transfer of Rights of the Sépia and Atapu areas, the market's attention is focused on the next auction in the concession model, the 17th Bidding Round of the National Agency Petroleum, Natural Gas and Biofuels (ANP),... Continue Reading →
The AEO2020 Reference case, which serves as a baseline for exploring the effects of different assumptions about the economy, policy, and technology, projects renewables to be the fastest-growing source of electricity generation through 2050, driven by continued declines in the capital costs for solar and wind technologies. Slow growth in U.S. energy consumption, as a... Continue Reading →
January 29, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that it has requested today its withdrawal from the Corporate Governance Program for State-Owned Companies of B3 (Program). Petrobras' adhesion to the Program took place on 08/08/2017. After that, the company continued to evolve in the improvement of its governance practices, having adhered to the... Continue Reading →
January 29, 2020 Petróleo Brasileiro S.A. - Petrobras discloses that its proved oil, condensate and natural gas reserves according to SEC (US Securities and Exchange Commission) regulation were estimated at 9.590 billion barrels of oil equivalent (boe), as of December 31, 2019, as displayed in Table 1. Continue reading
Brazil Energy Insight 