Petrobras completed the drilling of a well in Sururu field in July and discovered the largest oil column ever found in the Santos Basin pre-salt. According to the director of exploration and production of the company, Solange Guedes, during the drilling was identified an oil column of 530 meters. For comparison purposes, the average of... Continue Reading →

  08/03/2018. The 42.7% import growth in July was boosted by the nationalization of oil rigs after the government announced changes to the industry's tax rules. In July, there was a change in Repetro that allows a tax benefit for assets used in oil exploration held in Brazil. Until then, the benefits were only granted... Continue Reading →

Rio de Janeiro, August 6, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it has executed debt pre-payments totaling US$ 975 million, according to the table below. Bank Date of Advance Payment Value of Advance Payment (US$ million) Original Maturity Bank of America 7/25/2018 325 2022 Safra 7/31/2018 150 2022 MUFG 8/3/2018 500 2022... Continue Reading →

Petrobras’ profit reached 10.07 billion reais ($2.7 billion) during a quarter when Brazil endured a ten-day trucker strike that prompted a change in the company’s leadership, and as presidential candidates attacked rising fuel prices ahead of elections in October. While earnings topped analysts’ estimates, the focus now is how the new management performs amid confusion about the... Continue Reading →

08/03/18 As in Mero, Petrobras will use rigid and flexible pipelines in the submarine interconnection of the Sepia field After an era of flexible risers, the hybrid submarine configuration is becoming Petrobras' preferred option for its new pre-salt projects. As in Mero 1, the state-owned company will use the steel lazy wave riser (SLWR) system,... Continue Reading →

08/03/18 Portuguese oil explorer Galp is expected to invest about € 1 billion in Brazil by 2020 after confirming the purchase of 3% in the Caracará block in the Santos basin. According to José Mauro de Moraes, Coordinator of Petroleum Studies at the Institute of Applied Economic Research (Ipea), the sum shows foreign confidence in... Continue Reading →

  03/08/2018 Brazil's oil and gas production was approximately 3.313 million barrels of oil equivalent per day (boe / d) in June. 2.590 million barrels of oil per day (bbl / d) were produced, a decrease of 0.7% compared to the previous month and of 3.2% compared to June 2017. Natural gas production totaled 115... Continue Reading →

  Massachusetts electricity users will save about $1.4 billion over 20 years from the first commercial-scale offshore wind farm in the U.S. Avangrid Inc. and Copenhagen Infrastructure Partners, joint developers of the 800-megawatt project south of Martha’s Vineyard, expect to provide power and renewable energy credits for 6.5 cents a kilowatt-hour according to a letter Wednesday from... Continue Reading →

The proposal to regulate the local content bonus mechanism established by the Pedefor decree (8,637 / 2016), which will go for  public consultation to receive contributions from industry, provides for the granting of bonuses in the form of local content units (UCL) , expressed in reais, in the amount of up to R$ 5.5 billion... Continue Reading →