The Brazilian government and its state-controlled Petroleo Brasileiro SA have begun talks with “many actors” about steps to prevent regional monopolies after the oil company divests some of its refineries, Brazil’s minister of mines and energy said at an energy conference on Wednesday. Petrobras said last year it would sell some of its refineries in... Continue Reading →
Petrobras renews emergency response
03/03/19 Petrobras is expected to hire two new companies to provide emergency response services related to oil and oil spills in the country for the next four years. In a bid promoted by Petronect, only Navemestra Navegation Services and Suatrans Emergência had classified proposals. Navemestra was the only one classified in lots 1 and 3,... Continue Reading →
Onshore Brazil production increases
03/03/19 Volume extracted on land reached 236 thousand bopd in January, according to ANP data Oil and gas production in Brazil grew by 4% in January compared to the previous month, according to ANP data. The volume reached was 236 thousand boed, compared to 225 thousand boed in December, interrupting a downward movement in production... Continue Reading →
Petrobras evaluates sale of deepwater drill ship Vitoria 10,000
03/03/19 If confirmed, the study will mark the first disposal of deepwater equipment by the oil company. Petrobras plans to sell the Vitoria 10,000 deepwater drill ship, which was operated by the former Schahin - renamed Base - and was the subject of a lengthy legal process between the two companies. The divestiture of the... Continue Reading →
Brazil Government discusses plan to reduce natural gas cost
March 12, 2019 (Reuters) - President Jair Bolsonaro's government has discussed a review plan to regulate the natural gas sector to increase competition and reduce costs for input consumers, such as industries, a senior source told Reuters. The measures would partly retake a program outlined during the Michel Temer administration, the so-called "Gas to Grow",... Continue Reading →
Oceaneering Gets Equinor Contract Renewal
Oceaneering International has secured a contract renewal from Equinor, covering the provision of maintenance, reliability and integrity management. The contract, which was originally awarded to Oceaneering’s integrity business in 2005 and competitively tendered again in December 2013, is extended until December 2020. Continue reading
Eni hits ‘major oil discovery’ offshore Angola
Italian oil company Eni has announced “a major oil discovery” in Block 15/06, in the Agogo exploration prospect, in Angola’s deep water. The new discovery is estimated to contain between 450 and 650 million barrels of light oil in place with further upside, Eni said on Wednesday. The Agogo-1 NFW well, which has led to... Continue Reading →
Petrobras announces the Pricing of Global Notes and increase of Waterfall Tender Cap
March 12, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the pricing of (i) additional notes of its 5.750% Global Notes due 2029 (CUSIP No. 71647N AZ2/ ISIN No. US71647NAZ24) (the “2029 Notes”) and (ii) new notes denominated in U.S. Dollars (the “New Notes” and, together with the 2029 Notes, the “Notes”)... Continue Reading →
Petro Rio S.A. Announces 2018 Earnings
Petro Rio S.A. (“PetroRio” or “Company”) (B3: PRIO3) announces its results for the fourth quarter of 2018 (“4Q18”) and 2018 financial year. The financial and operational information below, except if otherwise indicated, is presented on a consolidated basis and stated in Brazilian Reais (R$) according to International Financial Reporting Standards (IFRS), including our direct subsidiaries:... Continue Reading →
Lopez Obrador rebuts finance ministry over $2.5 billion Mexico refinery funding
Mexican President Andres Manuel Lopez Obrador on Tuesday denied any delay to a flagship refinery project in his home state after the deputy finance minister was quoted as saying $2.5 billion for its construction will be moved to state oil firm Pemex. The planned investment for the Dos Bocas refinery “can go to exploration and... Continue Reading →
Brazil Energy Insight 