Wintershall CEO, Mario Mehren, at the Annual Press Conference for Wintershall said: “In 2018 we set a production record with daily production of up to 500,000 barrels of oil equivalent (BOE). With a crude oil and natural gas production of 171 million BOE in 2018, Wintershall has once again significantly surpassed the record figure –... Continue Reading →

Brazil’s central bank kept its benchmark interest rate at a record low 6.50 percent on Wednesday, as expected, while noting that recent economic data has been weaker than expected and that inflation risks are no longer skewed to the upside. The bank’s nine-member monetary policy committee, known as Copom, voted unanimously to keep the benchmark... Continue Reading →

Rio de Janeiro, March 20, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held today, elected Mrs. Anelise Quintão Lara for the position of Chief Refining and Natural Gas Executive Officer and approved the reappointment of the CEO Roberto Castello Branco and the other Executive Officers of... Continue Reading →

03/20/2019 The meeting of the CNPE that will approve the rules and the auction of the Transfer of Rights surplus will be rescheduled  for the first week of April and no longer in March, as initially foreseen by the MME. According to the secretary of Petroleum, Natural Gas and Biofuels, Márcio Felix, who announced the... Continue Reading →

IT services company Tata Consultancy Services (TCS), part of India’s Tata Group, has been selected by offshore driller Seadrill to transform and maintain its on- and offshore digital infrastructure. TCS said on Monday that the company would support Seadrill’s IT operations on its offshore drilling rigs as well as its onshore locations. According to the... Continue Reading →

03/20/2019 BP will drill its first exploration well in Pau Brazil - area auctioned in the fifth round of production sharing - between 2021 and 2022. The British company's plan foresees the initial drilling of a well, soon after completion of the seismic evaluation work. The group will acquire spec (speculative) data for the block... Continue Reading →

Margaret Øvrum recalls that investment depends on viability: 'With a monopoly, you do not get the right price' Norwegian Equinor (formerly Statoil), the second largest oil and natural gas producer in the country, behind only Petrobras, is waiting for a new regulation of the gas market to expand its investments in Brazil. The president of... Continue Reading →

  PetroReconcavo has begun direct negotiations with Petrobras for the purchase of a cluster of 34 oil fields in the Northeast, two oil industry sources told Reuters. Petrobras has opened negotiations with the Salvador-based company after 3R Petroleum did not receive financing for the acquisition of the fields for $ 453 million, announced at the... Continue Reading →