Rio de Janeiro, December 14, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has initiated the opportunity disclosure stage (“Teaser”) related to the sale of 100% of the shares held by Petrobras Biocombustíveis ("PBIO"), a wholly-owned subsidiary of Petrobras, in the company BSBios, which corresponds to 50% of the company's capital. BSBios owns... Continue Reading →
Goldman Says Big Oil Is Poised for Its Best Year in Decades
Big Oil’s slump is over and industry domination beckons, according to Goldman Sachs Group Inc. In 2018, companies from Royal Dutch Shell Plc to Exxon Mobil Corp. will find themselves with a surplus of cash to fund dividends, ruling the world of deep water mega-projects and even coming out ahead in tax negotiations with oil-reliant... Continue Reading →
Gas Demand to Get Boost as Supply Surge Sends Prices Lower
China, India, Brazil, South Korea and Australia will lead the world in gas demand growth, with consumption rising in each country between 2.3 percent and 4.8 percent a year until 2040, according to the report. Consumption in Japan, the world’s biggest importer of LNG, will contract 0.3 percent a year over the period as nuclear... Continue Reading →
World Bank promises to stop financing oil & gas projects
World Bank Group, an international financial institution, has decided to stop financing upstream oil and gas projects in a bid to help tackle climate change. The World Bank said on Tuesday at the One Planet Summit, convened by French President Emmanuel Macron, it would stop financing upstream oil and gas after 2019 in order to align... Continue Reading →
Brazil appeals court schedules early decision on Lula appeal
A Brazilian appeals court on Tuesday said it would decide on Jan. 24 on an appeal by former President Luiz Inacio Lula da Silva against a corruption conviction that could bar him from running in the 2018 presidential race. Read more
Brazil Senate OKs Repetro oil sector customs regime extension
DECEMBER 12, 2017 / 4:16 PM / UPDATED AN HOUR AGO Reuters Staff BRASILIA (Reuters) - Brazil’s Senate on Tuesday gave the green light to an extension of a preferential customs regime for the oil industry that has made the country more attractive to major global oil companies, sending the measure to the lower house... Continue Reading →
The U.S. Is Exporting Oil and Gas at a Record Pace
The world’s largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down. You name it -- crude oil, gasoline, diesel, propane and even liquefied natural gas -- all were shipped abroad at a record pace. While the surge comes many years after the shale boom started, it... Continue Reading →
Dutch company SBM to sign new leniency agreement with Brazilian authorities
The Ministry of Transparency and the Federal Comptroller General's Office (AGU) and the Federal Public Ministry have concluded a new leniency agreement with the Dutch company SBM Offshore, an oil exploration platform operator that admitted having paid millions of dollars in bribes to get Petrobras contracts. The company closed the first agreement with the... Continue Reading →
Brazil likely to limit cuts to local content requirements in oil contracts
Brazil will likely limit planned cuts in local content requirements for future oil exploration and production contracts in a move aimed at appeasing local suppliers and to pave the way for an extension of customs breaks for oil companies. Read more
Brazil’s PSDB picks Sao Paulo Gov. Alckmin to lead it into 2018 race
The centrist Brazilian Social Democracy Party, or PSDB, elected four-time Sao Paulo Governor Geraldo Alckmin as its leader on Saturday, making him its most likely presidential nominee in next year’s elections. Read more
Brazil Energy Insight 