Spectrum has received authorization from IBAMA for a 2D seismic data survey in the Pernambuco-Paraíba Basin. The survey is non-exclusive and will be conducted by the BGP Challenger vessel. The release from the environmental body is valid until the end of November. Today, the Pernambuco-Paraíba Basin has six blocks under concession, offered in the... Continue Reading →
Megaprojects Seen Becoming Less Mega as Oil Giants Rein In Costs
The world’s biggest energy companies are ready for big projects again. They just need to be cheaper this time around. Energy companies will approve spending for about 30 major projects this year, consultancy Wood Mackenzie Ltd. said in an April 5 report. That’s in line with the 32 that were sanctioned last year and more than were... Continue Reading →
Brazil’s top court rules that ex-president Lula can be jailed
Brazil’s Supreme Court early on Thursday rejected former president Luiz Inacio Lula da Silva’s plea to avoid prison while he appeals a corruption conviction, in a vote that likely ends his political career and deepens divisions in the country. Read more
Tense Brazil awaits Supreme Court ruling on Lula prison
Brazil’s Supreme Court on Wednesday will resume hearing former president Luiz Inacio Lula da Silva’s plea to remain out of prison while he appeals a corruption conviction, a case that has sharply divided the country, cast a shadow over this year’s presidential election and stirred rumblings in the army. Read more
Santos Basin biggest contributor to proven reserves
The ANP announced that oil companies have declared proven reserves (1P) of 12.835 billion barrels in 2017, an increase of 1% compared to 2016 and a net addition of 168.9 million barrels. The highlight was the Santos Basin, which alone added 740 million barrels, an increase of 12%, the highest in absolute terms. Growth in... Continue Reading →
Baúna and Tartaruga Verde should attract different investor profiles
One year after announcing the suspension of the sale process, Petrobras announced the teasers of the new disinvestment plans of the Baúna fields in Santos and Tartaruga Verde in Campos, which this time will be offered separately, unlike the original offering in 2015. In addition, Petrobras chose to include in the Tartaruga Verde package,... Continue Reading →
Petrobras announces redemption of two series of notes
RIO DE JANEIRO, BRAZIL – April 3, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices of redemption to the holders of the outstanding 4.875% Global Notes due 2020 (the “4.875% Notes”) and 5.75% Global Notes due 2020 (the “5.75% Notes” and,... Continue Reading →
CHC Group opens new base in Brazil
Helicopter operator CHC Group has begun operations from its new base at Bartolomeu Lisandro Airport, Campos dos Goytacazes, Brazil. The event was attended by executives from Shell, city hall, local press, and the president of the Industry Federation of the State of Rio de Janeiro (FIRJAN) for the Campos region, Fernando Aguiar. Read more
Karoon moves closer to FID for Brazilian assets as exploration phase phase ends
Australia’s Karoon Gas is moving closer to making a Final Investment Decision (FID) for its Echidna and Kangaroo oil discoveries located in the Santos Basin off Brazil, following the end of the exploration phase on five offshore blocks. Karoon said on Wednesday it has submitted the Final Discovery Evaluation Report (RFAD) for its wholly owned... Continue Reading →
Cancellation of ANP sanction on governmental participations in the Lula Field
Rio de Janeiro, April 3, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact of March 31, 2017, reports that Consortium BM-S-11, formed by Petrobras (65%), as operator, in partnership with Shell Brasil Petróleo Ltda. (25%) and Petrogal Brasil (10%), received on March 29, 2018, the decision of the National Agency of... Continue Reading →
Brazil Energy Insight 