Brazil’s 2018 presidential race remains wide open as half a dozen potential contenders across the political spectrum stand a chance to win the country’s top job, opinion polls show. After years of recession, political crisis and corruption scandal, Brazil’s electorate is deeply divided with former President Luiz Inacio Lula da Silva of the leftist Workers’... Continue Reading →
Murphy Oil announces strategic entry into deepwater Brazil/WorldOil
EL DORADO -- Murphy Oil Corporation has announced that its wholly owned Brazilian subsidiary, Murphy Brazil Exploração E Produção De Petróleo E Gás Ltda. (Murphy), has entered into a farm-in agreement with Queiroz Galvão Exploração e Produção S.A. (QGEP) to acquire a 20% working interest (WI) in Blocks SEAL-M-351 and SEAL-M-428, located in the deepwater... Continue Reading →
Public offering of Petrobras Distribuidora (BR) Shares
Rio de Janeiro, September 28, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 7/11/2017, reports that its Board of Directors (BD) authorized, in a meeting held yesterday, the filing of a formal request for registration of an initial public offering and for registration of Petrobras Distribuidora S.A. (BR) as... Continue Reading →
Temer Is Brazil’s Most Unpopular Leader Ever, Poll Says
Michel Temer is Brazil’s most unpopular president on record and his government got no "very good" rating at all from women as he faces corruption charges and pushes economic austerity measures, an opinion survey showed. Read more
Exxon Mobil bets on Brazil, buys 8 offshore oil blocks in auction
Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday, winning a total of eight offshore blocks in the country’s 14th oil bidding round, helping the cash-strapped nation to fetch a record 3.8 billion reais ($1.19 billion). Exxon Mobil took six blocks in consortia with state-controlled oil giant Petroleo Brasileiro in the promising offshore... Continue Reading →
Guyana: Total signs Orinduik farm in option with Eco Atlantic
Eco Atlantic Oil & Gas has entered into an option agreement on its Orinduik block, offshore Guyana, with Total E&P Activités Pétrolières, a wholly owned subsidiary of French oil major Total. Eco Atlantic said on Tuesday that the option agreement provided Total with an option to acquire a 25 percent working interest in the Orinduik... Continue Reading →
DEA, Ecopetrol enter shallow water E&P deals with Pemex
Mexican oil company Pemex has signed exploration and production contracts in shallow waters with Deutsche Erdoel AG (DEA) and Ecopetrol. Pemex said on Monday that the areas corresponded to Blocks 2 and 8 from Round 2.1, which were included in the bidding process by the National Hydrocarbons Commission (CNH). The signing ceremony was presided over... Continue Reading →
Brookfield closes majority stake buy in Teekay Offshore
Brookfield Business Partners has completed the acquisition of a 60 percent stake in Teekay Offshore Partners, a provider of marine services and solutions to the offshore oil industry. To remind, Brookfield entered into the initial deal with Teekay in late July. At the time, it was said that the total investment as part of the Teekay... Continue Reading →
ANP – Round 2 of the Pre-salt has 8 companies registered and 3rd Round, 11
Updated: Tuesday, September 26, 2017, 09h38 The Special Bidding Commission (CEL) analyzed yesterday (25/09) the requests of companies that expressed interest and requested qualification in the 2 nd and 3 rd Round of the Pre-salt. All companies qualified for the 2nd Round are also qualified for the 3rd. Of those approved yesterday, 10 are... Continue Reading →
Citi Says Get Ready for an Oil Squeeze
Those in the oil market fearing a flood of OPEC supply next year will probably be better off preparing for a shortage, according to Citigroup Inc. Five countries in the group -- Libya, Nigeria, Venezuela, Iran and Iraq -- may already be pumping at their maximum capacity this year, Ed Morse, the bank’s global head... Continue Reading →
Brazil Energy Insight 