06/11/18 The ANP decided to grant 359 days to the first exploratory period of the FZA-M-90_R11 concession contract, held by QGEP (operator, with 100%). As a result, the end of the First Exploration Period will be from 8/30/2018 to 8/24/2020 and the second period from 8/30/2021 to 8/24/2022. Oil and gas exploration in the Amazonas... Continue Reading →
Petrobras Debt Management Operations
Rio de Janeiro, June 12, 2018 - Petróleo Brasileiro SA - Petrobras informs the prepayment of a credit line on June 7, 2018, with The Bank of Nova Scotia, in the amount of US $ 750 million, maturing in 2022. Simultaneously, it contracted new financing with the same bank, of equal value, but with... Continue Reading →
Latin America’s uncertain LNG future
Old-guard importers are fading, but new markets are opening. The region’s exporters are adapting to the US threat Latin America doesn't suck in huge quantities of liquefied natural gas like northeast Asia, or feed the world's thirst on the same scale as Australia or Qatar; but it has played an increasingly important role in the... Continue Reading →
Petrobras reaches record production at Campo de Mero
11/JUNE The Mero pre-salt field in the Santos basin off Brazil produced a record-breaking 50,000 barrels per day of oil equivalent from a single well in April. Brazilian oil giant Petrobras produced 36,085 barrels per day of oil and 2.35 million cubic metres per day of natural gas from well 3-BRSA-1305A-RJS, for a total hydrocarbons... Continue Reading →
Chevron names Brazil chief to lead Venezuela operations after arrests
U.S. oil producer Chevron Corp (CVX.N) has permanently assigned its Brazil country chief to run its Venezuelan operations after the months-long detention of two executives escalated tensions between the OPEC-member nation and foreign oil firms. Read more
Brazil Central Bank Finally Halts Its Currency’s Plunge – For Now
It may not have been pretty, nor quick, but Brazil’s central bank finally became the latest emerging-market monetary authority to halt its currency’s depreciation by shoring up markets. The real rose for the first time in four days, jumping more than 5 percent and leading world gains, after the central bank pledged to flood the... Continue Reading →
Petrobras – Second Phase of the Temporary Diesel Price Subvention Program
Rio de Janeiro, June 8, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the material facts disclosed on 5/28/18 and 6/1/18, informs that its Board of Directors approved, in an extraordinary meeting held yesterday, the company’s adhesion to the 2nd phase of the of economic subvention program for the commercialization of diesel, established by... Continue Reading →
Petrobras – Results of the 4th ANP Bidding Round – Production Sharing Regime
Rio de Janeiro, June 7, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on December 14, 2017, informs that it acquired, in partnership with other companies, three offshore blocks in the 4th Bidding Round under the Production Sharing Regime, held today by the National Petroleum Agency (ANP), as the operator... Continue Reading →
New round of pre-salt auction confirms recovery of the Brazilian oil industry
June 08, 2018 Despite the traditional volatility of the oil and gas sector, in addition to domestic market turbulence, the national oil industry has confirmed the recovery path ahead of the result of the pre-salt auction held last Thursday, in which three blocks were sold for R $ 3.15 billion to large companies. "These auctions... Continue Reading →
Seadrill eyes date for emergence from Chapter 11
Offshore driller Seadrill Limited expects to emerge from the Chapter 11 process in the first half of July 2018. The U.S. Bankruptcy Court for the Southern District of Texas overseeing the Seadrill’s chapter 11 cases entered an order confirming the driller’s plan of reorganization in April. Read more
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