The leading leftist candidate in Brazil’s presidential race, Ciro Gomes, would end the refining monopoly of state oil company Petroleo Brasileiro SA, a senior Gomes adviser told Reuters. Read more
U.S. energy firms chasing oil price rally stumble on old baggage
With oil price recovery taking hold, several U.S. oil and gas companies entered 2018 with a compelling plan - sell undeveloped or less essential fields and invest the money to boost returns from their sweetest, most productive spots. There is a catch, though. The strategy assumes that with crude now up more than 150 percent... Continue Reading →
TechnipFMC and DOF Subsea Announce the Delivery of Skandi Recife and Commencement of Contract with Petrobras
June 14, 2018 LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) (ISIN:GB00BDSFG982) and DOF Subsea (DOF) announce that the Skandi Recife, a Brazilian-flagged flexible lay and construction vessel owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its 8-year charter contract with Petróleo Brasileiro S.A. (Petrobras). The vessel will... Continue Reading →
Total buys solar power plants in São Paulo
June 13, 2018 Total Eren - a partnership between France's Total and Eren - has closed the acquisition of 100% of the Dracena I, Dracena II and Dracena IV photovoltaic solar plants, all operated by Cobra do Brasil and to be installed in the city of Dracena, in the interior of the state from Sao... Continue Reading →
Guyana: ExxonMobil lays foundation for Liza startup
U.S. oil major ExxonMobil is rapidly progressing its Liza Phase 1 development located offshore Guyana with the beginning of development drilling. ExxonMobil informed on Tuesday that the development drilling for the first of 17 wells planned for Phase 1 began in May, laying the foundation for production startup in 2020. Read more
QGEP gets longer time for exploration in the Amazonas Basin
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 Energy Insight 