Brazil’s central bank will keep its benchmark interest rate anchored at a record low later this week, and probably keep it there for the rest of this year, according to a Reuters poll of economists. The central bank’s policy-setting committee (Copom) has held its Selic interest rate at 6.50 percent since March last year, and... Continue Reading →
Oil production in Brazil up 4.8% in December
January 4, 2019 In December 2018, Brazil's oil and gas production totaled 3.406 million barrels of oil equivalent per day, with 2,691 million barrels of oil per day and 114 million cubic meters of natural gas per day. Oil production in the period increased by 4.8% compared to the previous month and 3%... Continue Reading →
Woodmac: Five offshore wells to watch in 2019 (Peroba)
Latin America and southern and western Africa are the regions to keep a close eye on when in comes to offshore exploration, energy intelligence group Wood Mackenzie said in its analysis on Monday, also sharing the top five offshore exploration wells expected to be drilled in 2019. One of them could potentially hold 5 billion... Continue Reading →
Plan for Alto de Cabo Frio Oeste approved/Shell plans to drill this year an exploratory well in the pre-salt area of the Santos Basin
2/4/19 The ANP approved the Shell's exploration plan in Alto de Cabo Frio Oeste, in the pre-salt of the Santos Basin. The oil company informed BE Petróleo that it plans to drill this year an exploratory well in the asset, acquired in the third round of production sharing, in 2017. The company's expectations for Brazil... Continue Reading →
Dofcon’s PLSV, Skandi Olinda, is launched
2/4/19 Built at Vard Promar in Pernambuco, Skandi Olinda will provide services for eight years to Petrobras PLSV Skandi Olinda of the Dofcon consortium (TechnipFMC / DOF) was launched this week in Rio de Janeiro. Built at the Vard Promar Shipyard in Pernambuco, the vessel, which specializes in handling underwater flexible lines, will provide Petrobras... Continue Reading →
FPSO OPERATOR BUMI ARMADA EXISTS THE BRAZILIAN MARKET
Feb, 2019 The oil and gas sector is losing a major competitor in the fierce market for offshore vessels. The Bumi Armada Berhad group is leaving Brazil. Headquartered in Malaysia, the company is considered one of the market giants operating FPSOs, in addition to providing offshore services. However, despite the great ambitions set for... Continue Reading →
James Fisher Offshore and First Subsea Launch Decom Solution
James Fisher Offshore (JFO) and First Subsea have joined forces to launch a cut and lift product that reportedly promises to streamline decommissioning projects worldwide. Over the last year, First Subsea and JFO, part of James Fisher and Sons, have explored how they could combine their water abrasive jet cutting technology and ball and taper... Continue Reading →
CGX and Frontera execute Guyana farm-in deal
Canada’s CGX Energy and Frontera Energy have executed a farm-in joint venture agreement covering CGX’s two shallow water offshore Petroleum Prospecting Licenses in Guyana, the Corentyne and Demerara Blocks. These agreements remain subject to Guyanese government approval, Frontera said last Friday. Continue reading
Petrobras – Public Offering of Debentures – Completion of the Bookbuilding Process
Rio de Janeiro, February 1, 2019 - Petróleo Brasileiro S.A. - Following the Material Facts disclosed on December 26 and 28, 2018 and January 8, 2019, Petrobras informs that the bookbuilding of the sixth (6th) issuance of simple, non-convertible, unsecured debentures of the Company (“Issuing” and “Debentures”), for placement under best efforts, pursuant to CVM... Continue Reading →
Petrobras decides to mothball fertilizer factories
Rio de Janeiro, February 1, 2019 - Petróleo Brasileiro S.A - Petrobras, following up on the notice to the market released on 10/30/2018, informs that it has initiated the mothballing process of the fertilizer plant located in Sergipe (Fafen-SE) and that it continues with the lease bidding process for this unit and for the unit... Continue Reading →
Brazil Energy Insight 