Brought to you by Quest Offshore & Southern Cone Consultants
Rio de Janeiro, April 26, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that the Board of Directors, in a meeting held today, approved new guidelines for the management of its asset portfolio. The guidelines are in line with the Resilience Plan, released on 03/08/2019, being part of the preparation process of the 2020-2024 Business... Continue Reading →
State governments in Brazil have agreed to work toward fulfilling the country’s Paris Agreement climate change commitments, despite far-right President Jair Bolsonaro’s ambivalence over the pact. Bolsonaro said on his campaign trail he would withdraw Brazil from the accord, although later walked back those remarks. The country remains party to the agreement, with a commitment... Continue Reading →
Chevron Corp on Friday pushed back at the potential for a rival to break up its $33 billion deal for Anadarko Petroleum Corp, saying the two companies had already begun meetings on a merger plan. Occidental Petroleum on Thursday sought to scuttle the proposed deal, submitting a higher, $38 billion cash-and-stock offer for Anadarko. Anadarko’s... Continue Reading →
Exxon Mobil Corp is studying a possible purchase of production rights in Brazil’s so-called transfer-of-rights area - one of the world’s most promising offshore oil areas - although no decision has yet been made on the matter, an executive said on Friday. Speaking at an event in Sao Paulo, Exxon’s Brazil chief Carla Lacerda said... Continue Reading →
4/26/2019 The government took another step in the preparations for the mega-auction of the surplus of the Transfer of Rights assignment and defined the premises that will be used to calculate the financial compensation owed to Petrobras for the investments made by the state company in the areas that will be offered in the bid,... Continue Reading →
4/24/2019 Petrobras has produced its first batch of VLSFO sulfur bunker fuel that is compatible with International Maritime Organization (IMO) regulations for 2020 according to Argus and reported by Ship & Bunker. Although not the first oil company to do so, it is one of the first to have published some specifications for the fuel.... Continue Reading →
4/26/2019 New opportunities in the Brazilian subsea segment may generate contracts surpassing the US $ 4.5 billion in the next two years. The estimate is from TechnipFMC, one of the leading global suppliers of goods and services in the area. In a press release published on the 25 of April, the company lists five projects... Continue Reading →
Ibama rejected Total's request for reconsideration to unseal the licensing process for exploratory drilling in the area of blocks FZA-M-57, 86, 88, 125 and 127, in Foz do Amazonas, won in the 11th round of the ANP. Now, according to information confirmed by the Ministry of the Environment, the company must restart the licensing with... Continue Reading →
Anadarko Petroleum Corp, the target of a bidding war between Occidental Petroleum Corp and Chevron Corp, beat analysts’ estimates for quarterly profit on Thursday, fueled by higher sales volume and lower costs. Occidental made a counterbid for Anadarko’s vast shale holdings in the prolific Permian Basin of West Texas and New Mexico on Wednesday, offering... Continue Reading →
(Reuters) - U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses. Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31,... Continue Reading →
Brazil Energy Insight 