The Brazilian government will allow companies in the sugar and ethanol sector to raise capital for investments through the issuance of notes that are exempt from income tax, Energy Minister Bento Albuquerque said on Monday. Albuquerque and other government officials signed an order on Monday during the Ethanol Summit in Sao Paulo including the sugar... Continue Reading →
Positive Balance consolidates actions of the Natural Gas Committee at the MME
June 14, 2019 The Brazilian Natural Gas Market Competition Promotion Committee, coordinated by the Ministry of Mines and Energy (MME), ends the month of May with a positive and optimistic balance regarding the dialogues and understandings in the actions that seek to open the Brazilian gas market. It is expected that the Committee will conclude... Continue Reading →
Brazil’s Odebrecht expects to take part in Petrobras auctions in 2019
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 →
Head of Brazil development BNDES resigns amid tension with Bolsonaro
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 →
BP Statistical Review of World Energy
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 →
Bassoe: Mexican companies scramble to find jack-up rigs amid overwhelming offshore drilling demand
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 →
Brazil oil workers join pension reform protests with strike action
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 →
Investor urges EnscoRowan to declare $2.5B special dividend
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 postpones bidding round for major oil area to November 6
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 →
Petrobras receives final proposals to sell Enchova and Pampo clusters
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 →
Brazil Energy Insight 