May 30, 2018 8:41 a.m. ET SÃO PAULO—Brazil’s economic expansion continued in the first quarter as the country’s vital agricultural sector expanded rapidly from the previous three-month period. Gross domestic product grew a seasonally adjusted 0.4% in the first quarter from the last three months of 2017, and expanded 1.2% from the same period a... Continue Reading →
Brazil oil workers plan strike in new blow to government, economy
Brazilian oil workers planned a 72-hour strike starting on Wednesday, despite a court order, in a new blow to President Michel Temer and an economy reeling from a truckers’ protest that has strangled Latin America’s largest economy for over a week. The planned oil strike was declared illegal by Brazil’s top labor court on Tuesday.... Continue Reading →
Oil major Total says Foz do Amazonas project still alive despite Brazil rejection
French oil major Total said on Wednesday that its plans to drill in the ecologically sensitive Foz do Amazonas basin were still alive, despite Brazil’s decision to reject its drilling application. Read more
BW Offshore: Offshore field developments to pick up
FPSO operator BW Offshore expects activities in the offshore field developments sanctions to pick up, following years of underinvestment caused by the oversupply of oil in the market. Providing its quarterly results on Thursday, BW Offshore said: “Offshore production of oil and gas is expected to decline after several years of low investments. This will... Continue Reading →
Brazil denies Total license to drill Amazon basin for fourth time
Brazilian environmental agency Ibama on Tuesday rejected French oil company Total SA’s application for an environmental license to drill in the ecologically sensitive Foz do Amazonas basin. It is the fourth time that Ibama has rejected the application and requested additional information. Read more
Proposal to encourage production in mature fields is presented by the ANP during an event in Rio
The ANP's resolution to grant incentives to reduce the rate of royalties on incremental production in mature fields will increase the recovery factor and the useful life of these fields, said director of the ANP Dirceu Amorelli, who participated in the event "Rate of Royalties in Mature Fields" in Rio de Janeiro. According to... Continue Reading →
Brazil, Petrobras near rights-transfer deal: deputy minister
Petroleo Brasileiro SA and Brazil’s government are “very close” to resolving a long-running dispute over an oil-rich offshore area, a deputy minister said, dismissing concerns a fuel pricing crisis had emerged as an obstacle in talks. Read more
Brazil and Petrobras ask court to declare planned oil worker strike illegal
SAO PAULO (Reuters) - Brazil’s solicitor general’s office and state-led oil firm Petroleo Brasileiro SA said in a joint statement on Tuesday that they were asking the country’s top labor court for an injunction to halt a planned oil workers’ strike. Unions representing oil workers say they will start a 72-hour strike on Wednesday. That... Continue Reading →
Enseada requests renewal of license to complete works in the shipyard at Paraguaçu
05/29/18 The Enseada Indústria Naval asked IBAMA to renew an Installation License (LI) to complete works at the Paraguaçu shipyard, in Maragojipe (BA). Work was halted in 2015 due to the crisis in the shipbuilding and offshore sector, which began with the collapse of Sete Brasil's rig program. The works, which were to be completed... Continue Reading →
Brazil’s crisis deepens as truckers stay on strike
Oil workers threaten to down tools as pressure on centre-right Temer government grows Brazil faced a deepening crisis as the nation’s truckers refused to abandon a crippling strike despite a series of concessions from the government and other workers threatened to join the movement. With the strike entering its second week, truckers on Monday ignored... Continue Reading →
Brazil Energy Insight 