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Pemex will avoid investing in deepwater offshore projects, instead focusing on areas where it has experience, including the shallow waters of the Gulf of Mexico and onshore fields, Reuters quoted a senior executive as saying. The Mexican state energy company has been struggling to reverse a production decline that has been going on for more... Continue Reading →
Rio de Janeiro, June 21, 2019 - Petróleo Brasileiro S.A. - Petrobras, following up on the release of May 17, 2019, hereby informs that its subsidiaries paid today the amount of approximately US$ 700 million related to the decision of the United States District Court for the Southern District of Texas that denied Petrobras’ motion... Continue Reading →
The Commission for the Limits of the Continental Shelf (CLCS) has published a recommendation on the United Nations website (UN), legitimizing Brazil to incorporate 170,000 km2 of Continental Shelf area, in addition to the Exclusive Economic Zone. This means the expansion of territorial sea beyond 200 miles. An unprecedented achievement that did not affect the... Continue Reading →
June 19, 2019 Access to the transportation system is a precondition for the development of a competitive natural gas market in the country. The evaluation is by the Superintendent of Infrastructure and Movement of ANP, Hélio Bisaggio, who participated in this Wednesday, 19, of public hearing in the Commission of Regional Development and Tourism (CDR)... Continue Reading →
June 21, 2019 The ANP has accepted a request from Enauta and will grant 282 days for the first exploratory period of the FZA-M-90 block in the Foz do Amazonas Basin and 340 days for the PAMA-M-265 and PAMA-M-337 blocks in the Pará-Maranhão. The oil company claimed more time to develop the asset, due to... Continue Reading →
June 21, 2019 Rosneft's plans to monetize its natural gas reserves in the Solimões Basin, plans include the drilling of new wells, the construction of a pipeline system and a treatment plant. The production of the fields of the Russian company will be transported to Manaus by the expansion of the capacity of the Urucu-Coari-Manaus... Continue Reading →
Sembcorp Industries is providing Singapore’s offshore rig builder Sembcorp Marine with a five-year subordinated loan facility of S$2 billion ($1.5 billion). The loan will strengthen Sembcorp Marine’s financial position amidst the current downturn in the global offshore and marine industry, the company has said. According to its statement on Friday, Sembcorp Marine will be using... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore needs more time to work out a sustainable solution for the company’s current financial position as restructuring talks continue. Late last year Solstad started discussions with its financial creditors and other stakeholders to improve the overall liquidity situation of the group and to create a robust long-term platform for... Continue Reading →
Brazil’s central bank held its benchmark interest rate at a record-low 6.50% on Wednesday, as expected, holding back from signaling looser policy because of doubts on economic reforms. Otherwise, the scenario outlined by policymakers was one of anemic economic growth and high levels of economic slack putting downward pressure on inflation at home, plus the... Continue Reading →
Rio de Janeiro, June 20, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 05/10/2019, announces the beginning of the binding phase related to the sale of Liquigás Distribuidora S.A. At this stage of the project, process letters are issued to qualified interested parties with detailed instructions about the divestment process,... Continue Reading →
Brazil Energy Insight 