Rio de Janeiro, February 7, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the Press Releases of 07/07/2018 and 08/29/2018, hereby informs that, within the scope of its ongoing process of contingency assessment, it will make a provision for the amount provided in the award issued in the arbitration filed by Vantage Deepwater... Continue Reading →
Exclusive: U.S. opens probe into Brazilian oil bribery scheme – sources
The U.S. Justice Department is investigating a former U.S.-based oil trader for Brazil’s Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Vitol SA, Glencore PLC and Trafigura AG, according to people familiar with the matter. It was the first confirmation that U.S. investigators have joined a... Continue Reading →
EQUINOR SAYS THAT THERE IS POTENTIAL TO REDUCE CARCARÁ BREAKEVEN PRICE FOR LESS THAN 35 DOLLARS PER BARREL
Feb, 2019 Norwegian Equinor believes that it is possible to reduce breakeven of the Carcará field in the Santos Basin. According to the company's head of operations in Brazil, Margareth Øvrum, it is possible to reduce the breakeven to US $ 35 dollars per barrel. The statement was made during a capital market event... Continue Reading →
Brookfield Bullish on Brazil With Bolsonaro’s Pro-Business Bent
Brookfield Asset Management Inc., one of the world’s largest alternative asset managers, wants to capitalize on a wave of privatizations in Brazil as the new government of Jair Bolsonaro government moves to bring fiscal discipline to the country. Brookfield’s various subsidiaries, including its infrastructure arm, have been actively investing in Brazil in recent years, including... Continue Reading →
Maersk Drilling sees signs of continued recovery in offshore drilling market
Danish offshore driller Maersk Drilling returned to profit in 2018 from a loss in 2017 while its revenues decreased due to lower day rates. The driller has said in its annual report for 2018 it is seeing signs of continued recovery in the offshore drilling market. In 2018, Maersk Drilling’s revenue declined by 1% to... Continue Reading →
BP aims to double exploration activities
Brazilian pre-salt is among the regions where the company plans to conduct drilling campaigns throughout the year BP Energy plans to double its exploration activities in 2019, British oil chief Bernard Looney said in an interview with analysts. The Brazilian pre-salt will be one of the regions where the company plans to conduct drilling campaigns... Continue Reading →
Offshore supply chain recovery to continue in 2019, WoodMac says
The global offshore upstream supply chain saw signs of recovery in 2018, and this looks set to continue in 2019, according to global natural resources consultancy Wood Mackenzie. As project FIDs increase, demand for equipment and services are buoying the prospects for the upstream supply chain, WoodMac said. But the downturn left its mark on... Continue Reading →
Higher oil and gas output lifts Total profit
French oil and gas company Total booked an increase in the fourth quarter 2018 profit driven by higher oil and gas production and increase in prices. The oil company said on Thursday it had recorded an 11% increase in net income for 4Q 2018 which amounted to $1.13 billion, compared to the profit of $1.02... Continue Reading →
U.S. asks Brazil to consider lifting tariffs on ethanol exports
The United States has asked Brazil to consider lifting tariffs imposed on its ethanol exports and is hopeful of a positive outcome, a senior official at the U.S. Department of Agriculture said on Wednesday. Brazil currently charges a 20-percent tariff on ethanol imports surpassing 150 million liters a quarter, in a bid to shield local farmers from... Continue Reading →
Total will abandon two wells in Lapa
2/6/19/19 Total plans to abandon two wells permanently in the Lapa field, in the Santos Basin pre-salt. The information was confirmed by the ANP after contact made by BE Petróleo. One of the wells - which had a useful life expected to end this year, according to studies of corrosion prepared by Petrobras (former operator... Continue Reading →
Brazil Energy Insight 