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Brazilian oil company Petrobras is abandoning the Camarão Norte discovery located south of the Manati field offshore Brazil. The Manati field is operated by Petrobras and QGEP is one of its partners. QGEP informed on Thursday that the Consortium of Block BCAM-40 has begun the relinquishment process with the National Agency of Petroleum, Natural Gas and... Continue Reading →
Oil prices have been creeping upwards for more than a year, quietly gaining ground as emerging-market investors fretted about trade and the end of cheap money. But now that crude is near the highest in four years, it’s suddenly a hot topic. For energy importers, the squeeze in supply is stoking inflation, while climbing U.S.... Continue Reading →
Nationalistic and free market advisers to Brazil’s right-wing presidential frontrunner are deeply split about the future of state-run oil company Petroleo Brasileiro, foreshadowing a showdown over divestments and fuel subsidies. Read more
Offshore drillers Ensco and Rowan earlier this week announced they would merge to create an offshore drilling company with the broadest geographic presence of any offshore driller in the market. Norwegian oil and gas intelligence firm Rystad Energy agrees. In a comment following the Ensco-Rowan merger announcement, Rystad labeled the deal as “A merger of equals,”... Continue Reading →
10/1/18 Petrobras is expected to launch the tender to contract Itapu's FPSO in the Santos Basin pre-salt in 2018. With the first oil planned for 2021, the platform will have the capacity to produce 120,000 barrels of oil per day. Sources believe that Petrobras may choose, as an alternative to chartering, the contractual modalities of... Continue Reading →
10/11/18 Phoenix submitted to the ANP the declaration of commerciality of the Northeastern Periquito field, a result of discovery in block POT-T-744, in the Potiguar Basin. In addition to the 744, Phoenix has another exploratory concession, in block POT-T-743. The areas were acquired in Round 13 by UTC and Concriz and were later sold to... Continue Reading →
October 11, 2018 Fueled by the oil and gas industry, the state of Rio de Janeiro increased its exports by 24% (US $ 19.1 billion) and its imports by 125% (US $ 16.7 billion) from January to August this year to the same period last year. The main impact was the acquisition of capital goods... Continue Reading →
The U.S. oil company Murphy Oil has said it will form a joint venture company with Petrobras America, a U.S. subsidiary of the Brazilian oil company Petrobras. The two companies have signed a definitive agreement to create a joint company comprised of all of Murphy’s and Petrobras’ Gulf of Mexico assets. Murphy will be overseeing... Continue Reading →
AET, a petroleum logistics unit of Malaysian energy logistics group MISC Berhad, has named its first LNG dual-fueled aframax oil tanker vessels, Eagle Brasilia and Eagle Bintulu for Shell. According to the company, using LNG as a fuel eliminates sulfur (SOx) emissions by nearly 100 percent, nitrous oxide (NOx) emissions by 85 percent and particulate... Continue Reading →
BP Plc boss Bob Dudley, among the first to say oil will stay lower for longer, is becoming more confident. In a sign of the improving times, the British oil major is now planning its investments at $60-$65 a barrel oil, raising it from $50-$55 last year, Dudley said Wednesday at the Oil & Money conference... Continue Reading →
Brazil Energy Insight 