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French oil company Total has taken the investment decision for the first large-scale development phase of the Libra project, located 180 kilometers off the coast of Rio de Janeiro, in the pre-salt area of the Santos Basin in Brazil. This phase, consisting of a floating production storage and offloading (FPSO) unit with a production capacity of... Continue Reading →
Helix Energy Solutions has informed that the Siem Helix 2 has successfully completed the vessel acceptance process and is on contract offshore Brazil. The well intervention vessel will be performing well intervention services under a multi-year contract with Petrobras. Read more
Rio de Janeiro, December 15, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the press releases of June 5 and October 26, 2017, informs that its Shareholders Meeting approved today changes to its Bylaws which will allow the company to apply for accession to B3’s Level 2 special listing segment of Corporate Governance. Petrobras... Continue Reading →
Rio de Janeiro, December 15, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in October was 2.72 million barrels of oil equivalent per day (boed), with 2.62 million boed produced in Brazil and 99 thousand boed produced abroad. The average oil production in the country was 2.13... Continue Reading →
The P-54 FPSO on the Roncador Field – (Photo: Geraldo Falcão) Statoil and Petrobras have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil. The transaction nearly triples Statoil’s production in Brazil, with attractive break-evens and potential for additional value creation for both... Continue Reading →
Lawmakers voted on Friday to begin proceedings that could oust President Pedro Pablo Kuczynski of Peru, the latest leader accused of involvement in a corruption scandal that has shaken some of Latin America’s biggest countries. The dispute involves Odebrecht, a Brazilian construction giant, which last year admitted to paying roughly $800 million in payoffs in... Continue Reading →
Rio de Janeiro, December 14, 2017 - Petróleo Brasileiro SA - Petrobras, further to the press release disclosed on 12/05/2017, announces that it has disbursed the first installment of the financing contracted with the China Development Bank (CDB), in the amount of US$ 3 billion. The remaining balance of the contract, US$ 2 billion, is... Continue Reading →
Rio de Janeiro, December 15, 2017 - Petróleo Brasileiro SA - Petrobras, pursuant to CVM Instruction 358/2002, informs about an arbitration award, favorable to the company, which rejected a request made by an investor of Sete Brasil Participações SA, in judicial reorganization, in the arbitration proposed against Petrobras, with the purpose of obtaining reimbursement of... Continue Reading →
Brazil’s government threw in the towel on its efforts to vote on a flagship social security reform this year, kicking the bill back to February and raising the prospect that nothing will be done about the country’s ballooning pension obligations until after next year’s elections. Read more
Chevron Corp has reached preliminary agreement with oil services firm Schlumberger NV to drill six wells in a Brazilian offshore field, two sources said this week, in a bid to lift its output in the South American country after a 2011 oil spill there cut production. Six wells would be drilled in the Frade... Continue Reading →
Brazil Energy Insight 