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April 15, 2019 The ANP announces the pre-announcement and the draft contracts of the 6th Round of Bidding under the system of production sharing. The auction will offer the areas of Aram, Cruzeiro do Sul , Bumerangue. Sudoeste de Sagitario and Norte de Brava. - In January, Petrobras communicated to the National Energy Policy Council... Continue Reading →
Rio de Janeiro, April 12, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that it received the Official Letter No. 123/2019/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No. 123/2019/CVM/SEP/GEA-1 “Mr. Director, 1. We refer to the news published on 04-11-2019, in the G1 news portal, Economics section, under the title: "Bolsonaro orders, and Petrobras... Continue Reading →
A conversation lasting less than 20 minutes was enough to put the neo-liberal credentials of Brazil President Jair Bolsonaro’s government in question. Bolsonaro and his Chief of Staff Onyx Lorenzoni suspended oil giant Petrobras’ diesel price increase late Thursday after that discussion and a phone call to Petrobras CEO Roberto Castello Branco, according to a... Continue Reading →
12/04/2019 Petrobras plans to sell up to 30% of its stake in BR Distribuidora, the country's largest fuel distribution company. The oil company is in advanced talks with banks and financial investors to divest its share by issuing shares (known as "follow on") at the São Paulo stock exchange. With the deal, the state company... Continue Reading →
04/11/2019 Bento Albuquerque, MME announced that the federal government will open the natural gas market to the competition. According to the minister, the fact that the state-owned company Petrobras exclusively operates in most of the activities related to the import and production of gas is contrary to the interests of consumers. "We see that this... Continue Reading →
Survey respondents think drilling rig demand will increase and the harsh environment semi-sub market is undersupplied, but peak oil demand is a growing concern. We’d like to thank the nearly 300 offshore oil and gas industry professionals who answered one or more of our 2019 rig market survey questions. So, let’s go through the results.... Continue Reading →
Canadian oil firm Africa Oil has beefed up its share in Eco Atlantic oil company currently preparing for a potentially transformational drilling campaign offshore Guyana. In a statement on Wednesday, Africa Oil Corp said it had acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas Ltd. for US$1.05 per common share for a total... Continue Reading →
An agreement between Brazil’s oil giant Petroleo Brasileiro SA and the government has ended a five-year dispute and eliminated one of the main uncertainties surrounding its investment case, analysts said. JPMorgan increased its price target for the company’s American depositary receipts to $21.50 from $20, and the bank expects Petrobras to use “a good portion” of the $9.06 billion... Continue Reading →
April 12, 2019 The Petrobras contracting model for the acquisition of offshore seismic data should be changed. Instead of contracts per campaign, the oil company evaluates the possibility of using long-term umbrella contracts, with at least five years of validity, in conventional mapping and with nodes (bottom cables). The new contracting system has been discussed... Continue Reading →
Chevron Corp unveiled a $33 billion takeover of Anadarko Petroleum Corp on Friday, bolstering its position in shale oil and liquid natural gas production with the biggest industry merger since Royal Dutch Shell bought BG Group in 2016. With oil prices surging this year, Chevron and larger rival Exxon Mobil have been doubling down on... Continue Reading →
Brazil Energy Insight 