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Nov 8, 2019 On November 4, Petrobras received from the Brazilian Institute of Environment and Renewable Natural Resources (Ibama), the Operating License for the Development of Production and Disposal of Berbigão and Sururu, which will take place through FPSO P-68, within the scope of the Santos Basin Pre-Salt Pole Oil and Natural Gas Production and... Continue Reading →
Nov 8, 2019 The National Agency of Petroleum, Natural Gas and Biofuels estimates that about 60 offshore platforms will be installed on the Brazilian coast by 2030, mostly in the pre-salt. ANP Director-General Décio Oddone stressed that the lack of bids in the Sepia and Atapu fields, in the TOR round held last Wednesday (7),... Continue Reading →
Latin American states like Colombia have been important producers of oil and gas for this southern continent, the Caribbean and North American markets. Colombia’s crude oil production is primarily located onshore, in the northwest and centre of the country, close to major refined product-consuming regions. Meta Department, in central Colombia, is an important production area,... Continue Reading →
Petrobras CEO Roberto Castello Branco said the reason most major oil companies didn’t show up for Brazil’s massive auction was because of the astronomic price tag and regulatory uncertainties. “The amount that companies would need to commit upfront, with license fees and compensation to Petrobras, was too high,” Castello Branco said in an interview Wednesday... Continue Reading →
Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA (PETR4.SA). The only block awarded in Thursday’s bidding went to the Brazilian oil firm, known as Petrobras,... Continue Reading →
For the second day, state-controlled energy giant Petrobras led the sole bid as major foreign producers sat out an auction of Brazilian oil deposits. Petroleo Brasileiro SA, as the company is also called, made a successful joint bid with China National Oil & Gas Exploration & Development Co. for the Aram block in Thursday’s sale... Continue Reading →
Brazil’s state-run Petrobras and CNODC, a unit of China National Petroleum Corp, were awarded rights to explore and produce oil at the Aram block in the country’s Santos basin by offering the minimum allowed profit oil of 29.96 percent. This was the only bid of the 6th Pre-Salt Round. The other blocks did not recieve... Continue Reading →
Brazil’s biggest-ever oil auction frustrated expectations on Wednesday, as high prices and the dominant role of state-run oil company Petrobras scared off global oil majors. Petroleo Brasileiro SA (PETR4.SA), as the Brazilian firm is also known, and Chinese state firms CNOOC (0883.HK) and CNODC [CNPC.UL] made the only bids out of over a dozen major... Continue Reading →
Nov 6, 2019 (Reuters) - A consortium led by Brazilian state-run oil company Petrobras and including China’s state-run companies CNOOC and CNODC was awarded the most promising block of the nation’s Transfer of Rights auction on Wednesday. The Buzios block was won by the companies by offering the minimum profit oil allowed for that area,... Continue Reading →
Brazil is holding what may be the world’s priciest-ever sale of oil prospects on Wednesday, with all eyes on who takes the giant Buzios field. Exxon Mobil Corp. and Royal Dutch Shell Plc are among heavyweights signed up to bid for four deep-water areas known as the transfer-of-rights reserves. It’s a prime piece of real estate at the... Continue Reading →
Brazil Energy Insight 