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April 24, 2019 Like the Temer government, the Bolsonaro government prioritizes supply of assets in the Campos and Santos basins The Brazilian government will offer a total of 20 exploration blocks in the Santos Basin in the three bidding rounds scheduled for 2019. If the agenda is maintained, this will be the first in 12... Continue Reading →
Rio de Janeiro, April 24, 2019 – Petróleo Brasileiro S.A. – Petrobras following up on the release dated 04/09/2019, informs that, on 04/18/2019, the Resolution of the National Council of Energy Policy (CNPE) No. 6 was published, setting forth the parameters for the bidding of the Transfer of Rights Agreement excess volumes under the Production... Continue Reading →
In March, 33 rig contracts were confirmed, according to Evercore ISI’s latest “Offshore Rig Market Snapshot.” This is up from 19 a year ago as the offshore drillers signed 135 contracts in 1Q or up 44% from 94 in 1Q 2018. The jackup mix was unchanged at 57%, but Evercore said it was encouraged that... Continue Reading →
Italian oil company Eni saw an increase in its first quarter 2019 net profit when compared to the last year’s performance. In 2019, Eni expects its production to grow fueled by ramp-up at new fields. Eni’s adjusted operating profit in 1Q 2019 was €2.35 billion, slightly down from the profit of €2.38 billion in the... Continue Reading →
Brazil’s jailed former leftist president, Luiz Inacio Lula da Silva, could gain partial freedom within five months following a court decision on Tuesday to reduce his sentence in one of two corruption convictions. The popular politician began serving a 12-year prison sentence a year ago on a corruption and money-laundering conviction for accepting a luxury... Continue Reading →
April 24, 2019 Total bonus of Búzios, Sepia, Atapu and Itapu exceeds in more than three times the amount collected in the sharing rounds Last week, the National Energy Policy Council (CNPE) approved the technical and economic parameters of the auction of surplus volumes of the Transfer of Rights contract, scheduled for October 28. The... Continue Reading →
Equinor ASA is the latest large oil company to bow to a major investor group that is pushing corporations to take more robust action on climate change. The Norwegian state oil giant has agreed to align its business model with the goals of the 2015 Paris climate accord, and will review its corporate lobbying policy and... Continue Reading →
The U.S. oil firm Occidental Petroleum has entered a race with Chevron to buy Anadarko Petroleum. Oxy on Wednesday said the 50-50 cash and stock transaction was valued at $57 billion. The news follows last week’s Chevron’s bid to buy Anadarko, also in stock-cash combination, valued at $50 billion. Occidental Petroleum on Wednesday said it... Continue Reading →
Brazil’s government reached a deal with lawmakers on Tuesday paving the way for a congressional committee to vote on its key pension reform bill later in the day, boosting investor sentiment and lifting local financial markets. The benchmark Bovespa stock market index rose 1.8 per cent to above 96,000 points, its best day in three... Continue Reading →
Angola plans to auction nine blocks this year and is seeking to build new refineries as Africa’s second-biggest oil producer looks to benefit from a surge in crude prices that could boost companies’ appetite for investments. The tenders for the offshore areas are part of efforts to lure back global explorers that cut spending after... Continue Reading →
Brazil Energy Insight 