Oil and gas companies are gathering in Mexico and Brazil this week for what may be two of their last chances to compete for some of the world’s biggest reserves ahead of elections that could dial back energy reforms in both countries. Read more
These AR Goggles Are Making Faster Fixes in Oil Fields
Replacing parts of an outdated Baker Hughes turbine at a petrochemical plant in Johor Bahru, Malaysia, is about as fun as it sounds. The chore was supposed to halt operations at the facility for at least 10 days and cost $50,000 to fly a specialized U.S. work crew about 9,000 miles. Instead, once the equipment... Continue Reading →
Argentina Eyes $500 Million Rail Project to Boost Shale Play
Argentina is readying a tender for a $500 million train line that could help unlock the potential of Vaca Muerta, one of the world’s biggest shale plays, Transport Minister Guillermo Dietrich said in an interview. The train would link towns in the heart of the Patagonian shale field to the Atlantic port of Bahia Blanca... Continue Reading →
Comperj Gas Unit is contracted by Petrobras with Shandong Kerui and Potential Method
March 23, 2018 Petrobras contracted with the Shandong Kerui Consortium and Potential Method to retake the works of the Comperj Natural Gas Processing Unit (NGPU) in Itaboraí, Rio de Janeiro. The contract, valued at around R$2 billion, was signed on the 22nd of March by representatives of the companies. The goal is for the unit... Continue Reading →
Oil auctions could exceed R$ 3.5 billion, projects ANP
03/23/2017 The director of the National Petroleum Agency (ANP), Décio Oddone, believes that government revenue from this year's auctions may exceed the initial forecast of R $ 3.5 billion. The calculation takes into account the signing bonus payment estimates for the assets of the 15th round of exploratory block concessions next week and the 4th... Continue Reading →
Mexico reveals bidders list for upcoming shallow water round
Mexico’s National Hydrocarbons Commission has revealed a list of the approved bidders for the next week’s oil and gas acreage bidding round. Read more
Statoil looking to get to the next level in Brazil by solving subsea challenges
Being the operator of the producing Peregrino field located offshore Brazil, Statoil’s activities in the country have been bearing fruit for years now. To put things in perspective, it is worth mentioning that Peregrino is Statoil’s largest operated heavy oil field outside Norway. However, the Norwegian state-owned giant is looking to further solidify its position in... Continue Reading →
ExxonMobil rumored to be interested in Thermoelectric plant
22 Mar (Reuters) – ExxonMobil is rumored to be negotiating a thermoelectric plant, in Rio Grande do Sul, originally contracted by the Bolognesi Group, whose concession was canceled in October, according to Valor newspaper. According to the report, representatives of the company met at the beginning of the month with the National Energy Agency (Aneel)... Continue Reading →
Settlement of the Second Installment of the Sale of Exploratory Block BM-8/Statoil
Settlement of the Second Installment of the Sale of Exploratory Block BM-S-8 03/21/2018 Rio de Janeiro, March 21, 2018 - Petróleo Brasileiro S.A. - Petrobras informs that it has received today the second installment, in the amount of US$ 300 million, related to the sale of its stake in the exploratory block BM-S-8 to Statoil... Continue Reading →
Brazil cuts rates to all-time low, signals more easing ahead
Brazil’s central bank cut interest rates to an all-time low on Wednesday and unexpectedly signaled it is likely to pursue another reduction at its May meeting as inflation continues to underwhelm. The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 25 basis points to 6.50 percent, capping a 775-basis-point... Continue Reading →
Brazil Energy Insight 