June 7, 2018 The 4th. round in the sharing regime held today by the ANP was a success, a great success. Even though it did not attract interest in one of the four blocks, the awarding of three blocks to three different consortia of six different major oil companies should be considered as a... Continue Reading →

Norway’s Equinor ASA led oil majors grabbing pre-salt blocks in Brazil on Thursday, snapping up stakes in some of the world’s most alluring offshore geology despite fresh concerns about political meddling in the country’s energy sector. A consortium of Equinor, Exxon Mobil Corp and Petroleos de Portugal made Thursday’s most aggressive play, offering more than... Continue Reading →

06/07/18 Onshore drilling, completion and intervention activities in Brazil are expected to grow between 20% and 30% in the coming years, according to Schlumberger estimates. The increase is mainly associated with opportunities generated by the divestments of Petrobras' onshore assets, which cover more than 8,000 wells in the Northeast. "We expect a significant increase in... Continue Reading →

Rio de Janeiro, June 06, 2018 - Petróleo Brasileiro S.A. – Petrobras, in addition to the press release disclosed on 06/05/2018, announces that it has concluded today the financial settlement of its previously announced debt tender offers made through its wholly-owned subsidiary Petrobras Global Finance B.V. ("PGF"). The payment to investors, who had their securities... Continue Reading →

1st Block - Uirapuru – 4 bidders Winner – Petrobras (30%), Exxon (28%), Statoil (28%)and PetroGalp (14%) Bonus – R$ 2.650 billion, Projected Investment- R$ 2.450 billion   2nd Block – Dois Irmaos – 1 bidder Winner – Petrobras (45%), BP (30%), Statoil (25%) Bonus – R$ 400 million   3rd Block – Tres Marias... Continue Reading →

06/06/2018 The replacement/resignation of the president of Petrobras was not a one-off stumble of Brazil’s oil market regulation strategy, implemented by the Temer government. In fact, if the crisis that led to the change of command at Petrobras – a crisis that is not yet over - led to abandoning the current strategy of international... Continue Reading →

Executives from oil majors were set to gather in Rio de Janeiro on Thursday to compete for stakes in Brazil’s pre-salt oil play, home to some of the world’s most alluring offshore geology, as rising oil prices boost appetite for expensive offshore projects. A record 16 companies, including Chevron Corp, BP Plc and Royal Dutch... Continue Reading →

Spanish oil company Repsol has updated its 2016-2020 Strategic Plan after achieving all the goals set out in the plan two years ahead of schedule, with an aim to invest 7.9 billion euros ($9.3B) in its Upstream unit by 2020. Namely, between 2018 and 2020, Repsol plans to invest 15 billion euros: 53% in its... Continue Reading →

06/06/18 The number of mergers and acquisitions in the oil and gas sector increased 200% in the first quarter of this year compared to the same period in 2017. There were 24 transactions this year against eight in the same period last year. It is the best result for a quarter since 2015, according to... Continue Reading →

June 6, 2018 BRASÍLIA - The National Council for Energy Policy (CNPE) plans to hold a round of oil field bidding each year until 2021, in the concession modality. In a meeting of June 5th, the board proposed to hold the 17th and 18th rounds of block bids, respectively in 2020 and 2021. The board... Continue Reading →