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Brazil cut its benchmark interest rate by half a point to a record low in a bid to mitigate the effects of the coronavirus pandemic that’s likely to push Latin America’s largest economy into recession. The central bank’s board, led by its President Roberto Campos Neto, on Wednesday lowered the Selic to 3.75%, as forecast... Continue Reading →
Mar 18, 2020 It is premature to discuss the postponement of auctions for oil exploration areas in 2020, defended the president of IBP, Clarissa Lins, in an interview with Estadão. The current planning is to carry out this year, the 17th concession round and the 7th pre-salt sharing auction. - "At the moment, the most... Continue Reading →
Mar 18, 2020 Objective is to inventory and evaluate the conditions of wells and structures to include new assets in the Permanent Offer regime The ANP reported that it is inspecting fields with marginal accumulations to include them in the Permanent Offer. The objective is to inventory and evaluate the conditions of the wells and... Continue Reading →
March 18, 2020 The president forwarded to the Senate on Tuesday (17) the indication of two names for the boards of the National Electric Energy Agency (Aneel) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The nominations were published in the Federal Official Gazette (DOU) and need to be approved by senators.... Continue Reading →
March 17, 2020 With ANP approval, the British operator will collect new seismic data in the block located in the Santos pre-salt The ANP approved the first revision of the exploration plan for the Pau Brasil area, aquired by BP Energy in the 5th Production Sharing Round, in 2018. According to the regulatory agency, the... Continue Reading →
March 16, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on 12/23/2019, announces the beginning of the binding phase related to the sale of part of its interest in exploratory blocks belonging to the BM-P-2 concession, located in the Pelotas Basin deep waters, in the state of Rio Grande do... Continue Reading →
March 13, 2020 José Mauro Ferreira Coelho will assume the Secretariat of Petroleum, Natural Gas and Biofuels (SPG), of the Ministry of Mines and Energy (MME), replacing Renata Isfer, who remains in the ministry. José Mauro is the current director of studies for Oil, Gas and Biofuels at the Energy Research Company (EPE). José Mauro... Continue Reading →
March 13, 2020 Due to several questions recently received, the ANP clarifies that the certification of local content in items classified as material is prohibited by article 12 of ANP Resolution No. 19/2013 - except when it comes to an acquisition carried out directly by an exploration contract operator and production or when the materials... Continue Reading →
Guyana has extended the initial deadline in its search for an agent to market its share of oil produced by an Exxon Mobil-led consortium to March 24, the Department of Energy said on Wednesday. Guyana has no domestic refining capacity or national oil company and must sell the crude on the open market. Continue reading
Brazilian markets fell sharply on Wednesday, as stocks closed 8.5% lower and the real slid back toward its all-time low against the dollar after the World Health Organization declared the coronavirus outbreak a global pandemic. Reflecting the scale of investors’ risk aversion, longer term market-based interest rates surged, implying the central bank will eventually be... Continue Reading →
