The tanker carrying the first cargo of natural gas from U.S. shale formations was entering Brazil on Tuesday after leaving Cheniere Energy Inc.’s Sabine Pass terminal in Louisiana on Feb. 24. The liquefied natural gas tanker Asia Vision was arriving at port in Rio de Janeiro, according to shipping data compiled by Bloomberg. Petroleo Brasileiro... Continue Reading →
Obama Bars Atlantic Offshore Oil Drilling in Policy Reversal
The Obama administration is reversing course on opening Atlantic waters to a new generation of oil and gas drilling, after a revolt by environmentalists and coastal communities that said the activity threatened marine life, fishing and tourism along the U.S. East Coast. The proposed offshore leasing program being released Tuesday eliminates the administration’s initial plan... Continue Reading →
You Gotta be Kidding me – Brazil’s Lula likely to take cabinet position
Brazil's former president Luiz Inacio Lula da Silva will likely accept a position in President Dilma Rousseff's cabinet but plans to travel to Brasilia on Tuesday to discuss his options with her in person, a source said on Monday. Brazil's top three papers also reported late on Monday that Lula was expected to accept a... Continue Reading →
New Pemex CEO Raises Hopes of Contractors for $7 Billion Payment
When you’re owed $7 billion and the borrower asks for more time to pay, it tends to make you nervous. That’s why oil service companies are pinning hopes on Pemex’s new Chief Executive Officer Jose Antonio Gonzalez Anaya. Anaya told Congress last week that the state-owned oil company will pay what it owes to... Continue Reading →
Brazil Oil Output To Grow 830,000 bopd By 2021
IEA expects Brazil to be the second country outside OPEC where oil should grow most over the next five years. Extraction should surpass 2.54 MM bopd, going to 3.36 MM bopd [23.02.2016] / By The Newsroom, with information from Valor Econômico The IEA believes Brazil will be the second country outside OPEC in terms of... Continue Reading →
The Oil Crisis To Impact The Economy By US$ 13 B
According to the energy economics department at UFRJ University, in addition to cuts in investments by the oil companies, Brazil will also suffer from the drop in royalties [20.10.2015] / By João Montenegro/Brazil Energy The crisis in the oil sector will generate R$ 62 billion (US$ 13 B at current exchange rates) less in income... Continue Reading →
Opec: Pre-Salt Needs More Investments, Partnerships
According to the organization, Brazil will be the only Latin American country where oil production will rise. The cartel believes the increase in 2016 should be 80,000 boepd [14.03.2016] / By Gabriela Medeiros/Brazil Energy The FPSO Cidade de Mangaratiba (pictured) is the nation bigger oil producer Brazil's pre-salt region still needs more investments and partnerships,... Continue Reading →
IHI Leaves EAS Shipyard
The Japanese firm owned one-third of Estaleiro Atlântico Sul’s shares and is leaving Brazil [14.03.2016] By Lara de Faria/Brazil Energy Japan EAS Investimento, controlled by the Japanese IHI and JGC of Japan, has sold its stake in the Estaleiro Atlântico Sul shipyard, in the state of Pernambuco. The company owned one-third of the shipyard's shares,... Continue Reading →
Brazil Impeachment Rally Loses Steam as Economic Reality Sets In
The rally that made Brazilian assets the world’s best performers in 2016 is losing momentum as investors’ euphoria over prospects for change in government gives way to pessimism about how hard it will be to pull the country out of an economic malaise no matter who is in power. The Ibovespa equity gauge, Brazil’s currency... Continue Reading →
Argentine prosecutors cast wide net in Brazil graft probe
Argentine prosecutors are probing close to 100 companies, among them Brazilian firms, in an investigation into the suspected payment of bribes to government officials, a source with direct knowledge of the investigation said. The Argentine probe stems from Brazil's "Operation Car Wash" graft case, which has resulted in the jailing of some company executives, criminal... Continue Reading →
