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In allowing Luiz Inacio Lula da Silva to walk out of jail last week, Brazil’s Supreme Court has blown open a legal labyrinth that could see the leftist former president return to prison just as easily as run for election again. The second chamber of the Supreme Court will soon hear an appeal from Lula’s... Continue Reading →
(Reuters) - Brazil’s state-run oil firm Petrobras wants to further lower its stake in Petrobras Distribuidora SA, the fuel distribution unit it recently privatized via a share offering, the company’s chief executive said on Friday. Roberto Castello Branco added that Petroleo Brasilerio SA, as the company is officially known, has divested 70 oil blocks so... Continue Reading →
Nov 8, 2019 The pre-salt auction week ends with more than R $ 75 billion collected, the contracting of excess volumes of Buzios and Itapu, which may exceed 10 billion barrels, and the exploration of Aram, with potential to be one of the largest fields in the country. "Still, it left a lot of people... Continue Reading →
Brazil’s Supreme Court decided on Thursday to end the mandatory imprisonment of convicted criminals after they lose their first appeal, a politically charged ruling that may lead to the release of former leftist President Luiz Inacio Lula da Silva. The reinterpretation of Brazil’s penal code, allowing convicts to exhaust their appeal options before being locked... Continue Reading →
The worldwide offshore rig count in October 2019 decreased by two units sequentially, but increased by 37 units year-over-year, according to reports by Baker Hughes Company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. Baker Hughes reported on Tuesday that the international rig count for October... Continue Reading →
Brazil’s state-run Petrobras and CNODC, a unit of China National Petroleum Corp, were awarded rights to explore and produce oil at the Aram block in the country’s Santos basin by offering the minimum allowed profit oil of 29.96 percent. This was the only bid of the 6th Pre-Salt Round. The other blocks did not recieve... Continue Reading →
November 6, 2019 Petróleo Brasileiro S.A. – Petrobras informs that will be the operator with 90% stake in the consortium with CNODC Brasil Petróleo e Gás Ltda. (5% stake) and CNOOC Petroleum Brasil Ltda. (5% stake), which acquired today the exploration and production rights ofthe surplus volume of Búzios field from the Transfer of Rights... Continue Reading →
Nov 1, 2019 Petrobras is due to start production in Sergipe's deepwater in December when it intends to test the Farfan reservoir, one of the discoveries made in the region. The plan foresees the installation of FPSO Cidade de São Vicente, connected to a production well. It took longer than expected to complete cleaning of... Continue Reading →
November 1, 2019 Equinor is the second largest oil company in Brazil in terms of oil and gas production volume. And if it depends on the company's plans, the idea is to further expand these numbers. That's what the company's global supply chain vice president, Mauro Andrade reveals. "We estimate that with the entry of... Continue Reading →
Dutch contractor Heerema Marine Contractors will provide its crane vessels with clean energy by switching them from diesel generators to wind energy. By switching off the diesel generators, total emissions will be reduced by the equivalent of the annual emissions of approximately 5,000 diesel cars, Heerema said on Friday. Eneco will supply power from the... Continue Reading →
Brazil Energy Insight 