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OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market. The group, known as OPEC+, also demanded countries such as Nigeria and Iraq,... Continue Reading →
Jun 5, 2020 Important news for the oil and gas sector from Brasilia. The National Energy Policy Council (CNPE) approved incentives for small and medium-sized companies in the exploration, development and production of oil and natural gas. The collegiate also gave the approval for the National Petroleum Agency (ANP) to define and bid blocks... Continue Reading →
Brazilian federal court has ordered state-run oil company Petrobras SA to rename one of its biggest offshore oil fields currently named "Lula", the special secretary of privatization at the Economy Ministry, Salim Mattar, said late on Wednesday. Back in 2010, Petrobras decided to rename its Tupi field, one of the crown jewels in Brazil’s so-called... Continue Reading →
Jun 2, 2020 Equinor plans to produce the first oil from the Bacalhau field, in the Santos Basin pre-salt, in the third quarter of 2024. From then on, the oil company expects continuous operations for 30 years. The information is contained in the study and environmental impact report (EIA-Rima) of the enterprise, presented to Ibama.... Continue Reading →
June 2, 2020 ANP is publishing the Monthly Bulletin of Oil and Natural Gas Production with detailed data for April 2020. This month, production in the Pre-salt was 2.597 MMboe / d (million barrels of oil equivalent per day), the which corresponds to 69.5% of the national total. 2,057 MMbbl / d (million barrels per... Continue Reading →
Brazil’s real extended its rally in dramatic fashion on Tuesday, taking advantage of improving global market sentiment and demand for riskier assets to chalk up its biggest rise against the dollar in two years. The real was one of the worst-performing currencies in the world this year as markets tanked and the global economic and... Continue Reading →
Oil production in Brazil fell only marginally in April compared to the previous month, according to data released on Tuesday, as coronavirus-related stoppages and a dramatic fall in demand had a limited impact on output. According to Brazilian oil regulator ANP, the nation produced 2.958 million barrels of oil per day in April, up 13.6%... Continue Reading →
Jun 2, 2020 The six largest oil companies present in Brazil have a well-aligned speech regarding the needs of the country's oil and gas sector for the future. The foreign companies Shell, Equinor, Chevron, BP, Total, in addition to Petrobras itself, are demanding more changes in the Brazilian regulatory regime to ensure that projects in... Continue Reading →
May 29, 2020 Ibama granted a 3D seismic survey license with ocean-bottom nodes (nodular receptors positioned on the seabed) to Equinor for blocks BM-S-8 and North of Carcará - where the Bacalhau and North of Bacalhau fields are located - in the Basin Santos. The campaign will be carried out by Seabed's SR / V... Continue Reading →
May 29, 2020 The ANP board approved the assignment of the remaining 10% stake in Petrobras to Total in the BM-S-9A concession contract, where the Lapa field is located, in the Santos Basin pre-salt. The operation was authorized by Cade in August 2019. As a result, the Lapa consortium in the Santos Basin pre-salt will... Continue Reading →
