According to new analysis from IHS Markit, surplus Brazilian oil volumes estimated at 7.4 billion barrels-of-oil-equivalent (BOE) could yield an estimated $210 billion in royalties, government profit share and income taxes by 2050, should the cash-starved Brazilian government choose to auction the excess volumes under production-sharing terms. These surplus ‘transfer of rights (TOR),’ volumes, which... Continue Reading →

Rio de Janeiro, July 10, 2018 - Petróleo Brasileiro S.A. - Petrobras reports that it has signed yesterday with the French companies Total and Total Eren a Memorandum of Understanding (MoU) to analyze the joint business development in solar energy and wind onshore energy segments in Brazil. Based on promising initial results arising from the... Continue Reading →

Petrobras is close to securing the sale of its 50% stake in PetroAfrica, according to a source. The transaction is being carried out jointly with BTG Pactual and Helios Investment Partners, which holds the remaining 50% of the company and are also divesting the asset. According to a source, PetroAfrica is valued at US $... Continue Reading →

Industrial conglomerate Odebrecht SA has signed a leniency deal with Brazil’s attorney general and comptroller general expanding on an agreement with federal prosecutors that set terms for its cooperation in a massive graft probe, authorities said on Monday. Odebrecht has been at the center of a global corruption investigation involving numerous other firms that paid... Continue Reading →

The chief justice of a Brazilian appeals court blocked another judge’s efforts to release imprisoned former president Luiz Inacio Lula da Silva on Sunday, in a legal battle over the country’s most popular politician ahead of an October election. Read more

Brazil’s run at the World Cup ended in stunned silence on Friday, as Belgium eliminated the five-time world champions, 2-1, in Kazan. The win was as deserved as it was shocking: Brazil had been among the best teams left in a field that already had seen out pre-tournament favorites like Germany and past champions like... Continue Reading →

06/07/18 The 3-GTE-4DPA-BA well in Tiê field produced 1,239 barrels / day of oil in May, according to ANP data released this week. This is the 15th consecutive month in which the well operated by Maha Energy of the Gran Tierra group was the country's largest land-based oil producer. Located in the Recôncavo Basin, 3-GTE-4DPA-BA... Continue Reading →

06/07/18 The Libra consortium has already started the first preparations for the new long-term test to be held in the Mero area at the end of the year. The LTT will mark the second campaign of the Pioneer Libra FPSO, unit of the Ocyan / Teekay consortium, which completed in May six months in operation.... Continue Reading →

Rio de Janeiro, July 06, 2018 - Petróleo Brasileiro S.A. – Petrobras informs that yesterday its Executive Board approved the execution of a Term Sheet with Odebrecht S.A., providing for a set of integrity obligations for Odebrecht group companies to enable the removal of the provisional ban imposed by Petrobras since December 29, 2014, to... Continue Reading →

Rest assured, President-elect Andres Manuel Lopez Obrador won’t use his congressional muscle to overhaul Mexico’s landmark oil reform that allowed foreign companies back into the industry, the head of his transition team said. Lopez Obrador, known as AMLO, will review private oil contracts for graft, but if something untoward is found there will be talks... Continue Reading →