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Brazil's ANP plans to publish the 13th Oil Rights Auction Tender by Aug 6th. The oil authority plans to keep present local content rule but some politicians and the oil industry are hoping that the authority will rethink the issue and be more flexible. The fear is that if the local content rule is not... Continue Reading →
June 12, 2015 Latest local press report says that a group of Asian investors are negotiating a U$1.2 billion capital infusion. Not clear whether this will dilute existing shareholders but creditors have agreed. Since some shareholders are also large creditors gives some credibility but still the news are tenuous at best. The report says that... Continue Reading →
Senator Jose Serra of the opposition PSDB party. Photographer: Amauri Nehn/News Free/LatinContent/Getty Images Senators of Brazil’s largest party expect the upper house to approve a bill that relieves state-controlled Petrobras of its role as sole operator and compulsory stakeholder in so-called pre-salt oilfields. Read More
09/06/2015 The National Energy Policy Council (CNPE) published on JUNE 9, 2015 in the Official Gazette, Resolution No. 1/2015, which authorizes ANP, National Petroleum Agency, to hold the 13th Bidding Round of Exploratory Blocks . There will be offered 266 exploration blocks, totaling an area of 125,045.9 square kilometers. The Council also approved the inclusion... Continue Reading →
Low oil prices and economic growth have helped drive up consumer demand for energy across the world in 2015. The IEA said world demand for oil would increase 1.4 million barrels a day this year, 300,000 barrels a day faster than it previously forecast, to a daily average of 94 million barrels this year. Read... Continue Reading →
Pemex discovered four new fields in shallow water in the Gulf of Mexico with the potential for daily production of at least 200,000 barrels of oil and 170 million cubic feet of gas. Read More
An equipment failure that’s delayed Chevron Corp.’s $5.1 billion Big Foot deepwater project will reduce the company’s production target by less than 25,000 barrels a day in 2017, the company said. Read More
President Rousseff unveiled large infrastructure plan to stimulate lagging economy. Read More
Colombian oil company in trouble from shareholders Pacific Rubiales Energy Corp.’s share price shows its takeover has the most risk of failing among major oil deals. A member of the bidding group signaled that’s because it doesn’t plan to waive a condition that could block the bid. The Colombian driller’s largest shareholder, an investor group... Continue Reading →
North Sea oil Offshore fog Bloated costs and falling profits threaten the future of North Sea oil May 30th 2015 Try to keep it pumping WHEN the North Sea oil- and gasfields were booming, inefficiencies mushroomed. Now, times are tough—and it may be too late for belt-tightening. The offshore industry, particularly the British bit of... Continue Reading →
Brazil Energy Insight 