Oil major Shell has acquired a 50 percent stake in Fuerte Sur, Purple Angel, and COL-5 blocks offshore Colombia from the country’s largest oil and gas company Ecopetrol. Ecopetrol said that the three blocks, located in the Colombian Caribbean deepwater, were bought by Shell’s subsidiary Shell EP Offshore Ventures Limited. The location of the blocks... Continue Reading →
Rystad cuts global oil demand growth forecast over coronavirus impact
The coronavirus epidemic in China has triggered restrictions in the country’s public transport and air travel, both at a domestic and an international level, reducing demand for oil, which has lost about a fifth of its value since the start of the year, according to a latest report by Norwegian energy intelligence firm Rystad Energy. ... Continue Reading →
OPEC calls for extending oil production cuts amid coronavirus impact
Organization of Petroleum Exporting Countries (OPEC) has recommended extending oil production cuts until the end of 2020 due to the negative impact of the coronavirus outbreak on global oil demand. The Minister of Energy of Algeria and President of the OPEC Conference in 2020, Mohamed Arkab, has said that following an extraordinary meeting of the Joint... Continue Reading →
Offshore to Constitute 25% of Wind Demand
Offshore wind will constitute 25% of total wind demand in 2028, up from 10% in 2019 and will narrow the gap with offshore upstream oil and gas in terms of capital expenditure deployment, said the analyst firm Wood Mackenzie. The possibility of offshore wind becoming cheaper than coal, gas and nuclear in most major countries... Continue Reading →
PetroRio to tie back two Brazilian fields following FPSO acquisition
Brazilian oil and gas company PetroRio has signed binding documents for the acquisition of the OSX-3 FPSO for $140 million and the farm-in with Dommo Energia of 80% in the Tubarão Martelo field (TBMT) off Brazil, where the vessel is currently chartered. PetroRio said on Monday that the acquisition would allow for the tieback between... Continue Reading →
Platform P-70 is stabilized
Feb 1, 2020 Petrobras has already redirected the P-70 to the area where it will be anchored in Guanabara Bay to wait for the necessary authorizations before proceeding to the Atapu field, in the Santos Basin pre-salt. Due to the storm that hit the metropolitan region of Rio de Janeiro on Thursday night (01/30), the... Continue Reading →
Ex-Sembcorp Marine employee in Brazil charged for money laundering and corruption
Two people connected to Singapore’s rig builder Sembcorp Marine have faced charges for money laundering and corruption related to a drilling rig construction contract with Brazil’s drilling contractor Sete Brasil. Sembcorp Marine said on Monday that the Ministério Público Federal in Brazil (MPF) had filed charges against Guilherme Esteves de Jesus (GDJ) for money laundering... Continue Reading →
Equinor and Shell partner on Vaca Muerta acreage buy
Equinor and its partner Shell have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentina’s Neuquén province. The consideration for each partner for their 24.5% interest is USD 177.5 million. The block covers around 56,000 gross acres in the central area of the prolific Vaca... Continue Reading →
U.S. travel to Brazil jumps 39% with visa waiver
The number of Americans booking flights to Brazil has jumped 39% since the government of President Jair Bolsonaro waived a visa requirement for U.S. citizens in June, according to its official tourism agency, which is devising plans to draw more. “Brazil is much more than the land of caipirinhas and tiny bikinis. We want to... Continue Reading →
Visa Information for US Citizens travelling to Brazil
As of June 16, 2019, U.S. citizens do not need a visa if they are traveling to Brazil for tourism, business, transit, artistic or sport activities, with no intention of establishing residence. All you need is a valid passport
Brazil Energy Insight 