Rio de Janeiro, March 28, 2018 - Petróleo Brasileiro SA - Petrobras, in addition to the press release disclosed on 03/20/2018, informs that the mothballing of the fertilizer plants located in Sergipe (Fafen-SE) and Bahia (Fafen-BA) should be concluded until October 31, 2018. The creation of committees to be formed by representatives of the governments... Continue Reading →
Petrobras Oil price hedging to shield operating cash generation
Rio de Janeiro, March 28, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it has deployed a hedging strategy for part of its expected oil production in 2018. The transactions were carried out over the months of February and March, in a volume equivalent to 128 million barrels of oil. Put options have been... Continue Reading →
Round # 15 Sergipe ultra-deep in bidding and beginning to produce
March 28, 2018 Petrobras intends to start the production, from a Long-Term Test (TLD), of Farfan's discovery in the exploration block area SEAL-M-426 in ultra-deep waters of the Sergipe-Alagoas Basin in September. The TLD will be conducted by FPSO BW Cidade de São Vicente, which is currently in the Santos Basin, and will last... Continue Reading →
International oil companies increase Mexican portfolio in latest round
March 27, 2018 The shallow water, 3rd round offer of exploration areas in Mexico ended with 16 new blocks awarded, out of 35 offered. Most of the winners are international groups that have re-invested in the country. The competition takes place two days before the 15th round of the ANP, which will offer 70 exploratory... Continue Reading →
Deepwater Oil Starting to Hold Its Own With Shale: Chevron
Chevron Corp. is studding the ocean floor with heavy-duty pumping gear as part of an effort to make deepwater oil discoveries competitive with shale. The idea is to force crude from newly drilled wells in the deepest parts of the Gulf of Mexico to flow through miles and miles of pipe to platforms built a... Continue Reading →
Latin American Giant’s Hunger for Foreign Gas Ebbs Amid Oil Boom
As the global natural gas trade expands amid a boom in supplies from the U.S. to Australia, at least one major energy consumer may be sitting on the sidelines: Brazil. The nation’s imports of liquefied natural gas sank 75 percent over the past two years as domestic production climbed, government data show. The main culprit:... Continue Reading →
Pedefor recommends a minimum index of 25% of local content for FPSOs to CNPE
March 27, 2018 The Program to Stimulate the Competitiveness of the Productive Chain, to the Development and Improvement of Suppliers of the Oil and Natural Gas Sector (Pedefor) proposed, from a resolution published on Tuesday, that local content indexes for the regulation of the waiver for projects tendered up to the thirteenth round, in addition... Continue Reading →
FPSO P-68 receives installation license from Ibama
March 26, 2018 P-68 hull arrives at Jurong Shipyard, in Aracruz (ES), for integration - Photo: Augusto César Bernardo / Agência Petrobras IBAMA has issued to Petrobras the installation license for the P-68 platform, FPSO that will produce in the field of Berbigão, in the pre-salt of the Santos Basin. The license, which is valid... Continue Reading →
Brazil’s Lula loses procedural appeals, faces prison
A Brazilian appeals court rejected on Monday final procedural objections raised by lawyers of former leftist President Luiz Inacio Lula da Silva against his conviction for corruption, raising the possibility that he will soon be jailed. Read more
Brazil’s Meirelles to quit, possibly run for president
Brazil’s Finance Minister Henrique Meirelles has decided to resign next week and attempt to run for president or be President Michel Temer’s running mate if he makes a bid, government sources and a ruling party leader said on Monday. Read more
Brazil Energy Insight 