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Brazil’s far-right President Jair Bolsonaro has put economic policy in the hands of a team of University of Chicago-trained economists led by Economy Minister Paulo Guedes who will apply liberal shock treatment to Latin America’s largest economy much as Chile’s “Chicago Boys” did four decades ago under military rule. Continue reading
Petrobras has signed today with Perenco the contracts for the full sale of Petrobras’ stake in the fields of Pargo, Carapeba and Vermelho, the so-called Polo Nordeste, located in shallow waters off the coast of Rio de Janeiro state. The assets The Pargo field was discovered in 1975, and the fields of Carapeba and Vermelho... Continue Reading →
1/4/19 Brazil's PetroRio and Australia's Karoon Energy are among the companies bidding for the Baúna field in the shallow waters of the Santos Basin, which Petrobras has put up for sale, two sources told Reuters on condition of anonymity. With an oil output of around 34,000 barrels per day, Baúna is among the largest mature... Continue Reading →
1/4/19 Ibama issued 20 drilling licenses in 2018, a significant jump over the previous year when only one license was granted - for Equinor to drill in the BM-S-8 block in the Santos Basin. The Norwegian oil company and Petrobras were granted six licenses each, in the first case to conduct activities in Carcará, in... Continue Reading →
A great start, a disturbing ending, and a lot of excitement. Here’s Bassoe Offshore’s 2018 recap. By: David Carter Shinn, Bassoe Offshore Happy New Year! A lot of us might want to forget 2018, but there’s a lot worth remembering. We’ll be back later with our thoughts on 2019. Presented with no further comment, here’s our summary of the year gone by. If... Continue Reading →
Petrobras confirmed the election of Roberto Castello Branco as its new CEO and made several other changes in its administration in late December. The ceremony in Rio de Janeiro was attended by the Minister of Mines and Energy Bento Albuquerque, the Minister of Economy Paulo Guedes, the governor of the state of Rio de Janeiro Wilson... Continue Reading →
Brazil’s government and state-run oil firm Petroleo Brasileiro SA (PETR4.SA) expect to resolve a dispute over the oil producing zone known as the ‘transfer-of-rights’ area within 100 days, a minister said on Thursday. A dispute over the oil in the zone, and the price of it, dates back to 2010, when the Brazilian government granted... Continue Reading →
Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil’s Petroleo Brasileiro SA (PETR4.SA), will either save the indebted oil major - or strip it to the bone. Tapped by far-right President Jair Bolsonaro, who took power on Tuesday, Castello Branco had said in a June newspaper column he thought Petrobras... Continue Reading →
1/3/19 The new Ministry of Mines and Energy (MME) team will focus on improving the oil production sharing system in order to make it more competitive and attract greater " investments" in the oil and gas sector, said minister Bento Albuquerque during inaugural speech. "We will have lower transaction costs for the Union, more investments... Continue Reading →
1/3/19 The ANP's Local Content Superintendence (SCL) is analyzing 230 waiver applications. Of this total, approximately 50% (111) are requests for exemption from local content in the charter of rigs. Among other items / sub-items highlighted are logistical support, with 58 orders, well casing (19), drills (15), stationary production units (6), drilling, well completion and... Continue Reading →
Brazil Energy Insight 