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Overhauling the bloated public pension system has been a ubiquitous topic among Brazil investors for years now, the change nearly every money manager would cite when asked what the country needed most. Now that it’s finally here, traders seem to want a whole lot more. The revamp, which is expected to save the government almost... Continue Reading →
The Dominican Republic on Wednesday launched its first ever oil and gas licensing round, offering 14 offshore and onshore blocks up for bidding to interested oil companies. The blocks on offer are located in the Cibao, Enriquillo, Azua, and San Pedro basins of the Carribean island nation. Energy intelligence group Wood Mackenzie is assisting the... Continue Reading →
Brazil’s lower house of Congress approved a landmark overhaul of the country’s pension system on Wednesday by a far wider margin than predicted, delivering a resounding victory to the government in its quest to revive public finances. The lower house passed the main text of the bill by a vote of 379 in favor and... Continue Reading →
Bolivia’s state-owned oil company YPFB plans to bid on a stake in a natural gas pipeline linking the country to Brazil to secure better terms for its gas sales there, the company said on Tuesday. YPFB intends to bid on an unidentified portion of the 51% stake that Brazil’s state-owned energy company Petroleo Brasileiro SA... Continue Reading →
July 10, 2019 (Bloomberg) - US agribusiness giant Bunge Ltd. is in talks with British oil company BP Plc to create a joint sugar and ethanol company in Brazil, according to people familiar with the matter. The companies are in talks to merge operations in the South American nation, one of the largest producers of... Continue Reading →
PetroRio recorded a 36% increase in its total oil and gas production in the second quarter of this year. Extracted volume increased from 14,953 barrels / day of oil equivalent from January to March to 20,272 barrels / day from April to June, according to company operating data released on Monday (8). This total corresponds... Continue Reading →
Siemens will provide MODEC with three 34-megawatt (MW) SGT-A35 gas turbine power generation packages that will power MODEC’s floating production, storage, and offloading (FPSO) vessel. The vessel, referred to as the “Eni Mexico Area 1 FPSO,” will be deployed in the Offshore Area 1 approximately 6 mi (10 km) off the coast of Mexico at... Continue Reading →
July 09, 2019 Director General of the ANP, Décio Oddone bets on a "significant" return to onshore in the next five years Investment in mature fields in Brazil is an absolute priority of the ANP, said the director general of the agency, Décio Oddone, during a public hearing in the Chamber of Deputies. "The capillarity... Continue Reading →
July 9, 2019 Wintershall Dea is licensing an exploratory well in the POT-M-857 block area, in deep waters of the Potiguar Basin, in Rio Grande do Norte. The company informed Ibama that it intends to use a drillship with dynamic positioning to carry out the campaign, which will use the Port of Natal as a... Continue Reading →
Dutch heavy lifting and transportation company Mammoet and its UK rival ALE have revealed they’ve been in talks over a purchase agreement. In a statement on Monday, the two companies said that, if the talks are successful, Mammoet would acquire the British heavy lift and transport specialist ALE. “Should these discussions result in a signed... Continue Reading →
