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Brazilian conglomerate Odebrecht SA’s construction unit expects to speed up talks with Petroleo Brasileiro SA to resume providing services to the state-run oil company and participate in its public auctions in the second half of 2019, an Odebrecht executive said on Thursday. Olga Pontes, Odebrecht’s compliance director, says Odebrecht Engenharia e Construcao (OEC) should be... Continue Reading →
The head of Brazilian state development bank BNDES has submitted a letter of resignation amid public tensions with President Jair Bolsonaro, reflecting the serious divisions that continue to plague the administration’s upper echelons. In a statement seen by Reuters on Sunday, Joaquim Levy, a University of Chicago-educated economist and former finance minister who was appointed... Continue Reading →
Welcome to the BP Statistical Review of World Energy, which records the events of 2018: a year in which there was a growing divide between societal demands for an accelerated transition to a low carbon energy system and the actual pace of progress. In particular, the data compiled in this year’s Review suggest that in... Continue Reading →
Suddenly there’s a lot going on in the Mexican offshore rig market. So much that it’s confusing. Here’s your guide to what’s happening. It seems like yesterday that Pemex was renegotiating jack-up rig contracts and putting rigs on standby as drilling demand in Mexico plummeted. Oil production dropped from around 2.5 million barrels per day... Continue Reading →
Oil workers at state-run Petroleo Brasileiro SA have begun a strike in eight Brazilian states as part of nationwide protests against a government pension reform proposal, umbrella union group FUP said on Friday. Brazil’s pension reform bill is aimed at restoring public finances and reviving a flagging economy, but is fiercely opposed by some sectors... Continue Reading →
Offshore driller EnscoRowan has been urged by Luminus, a fund owning 4.5% of its shares, to declare a special dividend of $2.5 billion, which, the fund believes, would help the ESV share price which has been on a downward spiral for some time now and is at “1993 lows.” In a letter sent to EnscoRowan... Continue Reading →
Brazil’s oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28. The preliminary rules will be in public consultation until July 3, according to ANP. A public hearing is expected to take place... Continue Reading →
Rio de Janeiro, June 13, 2019 - Petróleo Brasileiro S.A. - Petrobras, regarding the news published in the media, about the shallow waters divestment project of Enchova and Pampo clusters, located in the Campos Basin, clarifies that on June 5, 2019 it received final offers from potential interested parties in the acquisition of said assets.... Continue Reading →
United States Embassy Brasilia, Brazil Message for U.S. Citizens: Visa Waiver for U.S. Citizens br.usembassy.gov The Brazilian government announced that effective June 17, 2019, a visitor visa (electronic or paper) will not be required for U.S. citizens to travel to Brazil for the purposes of tourism, business, transit and artistic and sportive activities, for stays... Continue Reading →
June 12, 2019 Carlos Tadeu da Costa Fraga will assume the presidency of Prumo Logística as of the beginning of July, in place of José Magela Bernardes. According to sources, the invitation to the executive, who is currently CEO of Açu Operations Port, was made by the CEO of EIG Global Energy Partners and chairman... Continue Reading →
Brazil Energy Insight 