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SBM Offshore is back in the Brazilian sector of FPSOs and walking on top. The Dutch company won the tender for the construction of the Mero 2 FPSO, which will operate in the Libra block. The unit will have capacity to process up to 180,000 barrels of crude oil and compress 12 million cubic meters... Continue Reading →
U.S. oil company Murphy Oil’s $2.1 billion sale of Malaysian business to Thai PTTEP announced on Thursday is the biggest oil and gas deal in South East Asia in five years, in what is expected to become a big year for mergers and acquisition in the region. This is according to Wood Mackenzie, an energy... Continue Reading →
Rio de Janeiro, March 22, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that implemented a hedge strategy to protect part of its oil production expected for the year of 2019. Put options have been acquired with exercise price referenced to the average of Brent oil prices, from April to the end of 2019 at... Continue Reading →
Oil and gas company CNOOC Limited has met its annual oil and gas production goals in 2018 and reached a “historic high” in its net proved reserves. In its 2018 annual results for the full year 2018, CNOOC said on Thursday it had expanded its oil and gas reserves and production at a steady pace... Continue Reading →
BASF's oil and gas subsidiary Wintershall on Thursday said it would build up its presence in the Brazilian offshore oil sector this year where it won exploration licences in 2018. "It is part of our growth course that we are also active in new regions, and Brazil offers great potential," said chief executive Mario Mehren... Continue Reading →
Rio de Janeiro, March 21, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the Press Release of 02/01/2019, informs that it obtained a favorable decision, reversing the injunction that suspended the mothballing of the fertilizer plant in Bahia (Fafen-BA). In this way, the company will follow the procedures for mothballing the unit. The... Continue Reading →
British oil giant BP expects to start its first exploration campaign in the pre-salt phase between 2021 and 2022, BP Energy president Adriano Bastos in Brazil said yesterday. According to him, the idea is to start drilling at Pau Brasil, in the Santos Basin. In the last two years, the company invested R $ 1.47... Continue Reading →
Brazil Mines and Energy Minister Bento Albuquerque said on Thursday that the government will present a program for overhauling the natural gas sector by June, a move aimed at lowering energy costs in the country. The program will be called the “New Gas Market” and is separate from the “Gas for Growth” program pursued under... Continue Reading →
Brazil’s former President Michel Temer was arrested on Thursday in an investigation of alleged graft in the construction of a nuclear power plant, prosecutors said, threatening to delay debate over the government’s ambitious fiscal reforms. Temer was president from 2016 to 2018, taking office after the impeachment of Dilma Rousseff, for whom he served as... Continue Reading →
The National Energy Policy Council (CNPE) reduced the offer of the 16th round to 36 blocks from 42, cutting areas in the Campos and Santos Basins. The round, formed by offshore areas in deep and ultra deep waters, is scheduled for the fourth quarter of this year. In the Campos Basin, blocks C-M-602, C-M-604,... Continue Reading →
Brazil Energy Insight 