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Occidental Petroleum’s $38 billion acquisition of rival Anadarko has moved closer to completion it has the U.S. antitrust regulators have given it an approval. Occidental informed on Tuesday the U.S. Federal Trade Commission had granted early termination of the waiting period under the HSR Antitrust Improvements Act of 1976, thus concluding the antitrust review of... Continue Reading →
ExxonMobil has committed to further investing in Block 15 offshore Angola with the aim to boost oil output. ExxonMobil said Wednesday the decision made with its partners was part of an agreement with Angola’s recently established National Agency for Petroleum, Gas, and Biofuels. As part of the agreement, Sonangol, Angola’s state oil company, will receive... Continue Reading →
05/06/2019 The National Agency for Petroleum, Natural Gas and Biofuels (ANP) published, on May 15, 2019, the Notice of Public Consultation and Public Hearing No. 10/2019, related to the 6th Round of Production Sharing Bidding. There will be 5 blocks of high potential, being these: Aram, Bumerangue, Cruzeiro do Sul, Sudoeste de Sagitario and Norte de... Continue Reading →
Brazilian lender Caixa Economica Federal is considering taking steps that would force Odebrecht SA to seek bankruptcy protection, according to people with knowledge of the matter. The government-owned bank is planning to ask the holding company to accelerate debt payments by triggering a cross-default clause after Odebrecht’s ethanol unit Atvos SA filed for court protection from creditors... Continue Reading →
The Brazilian government on Tuesday paved the way for ethanol makers to sell the fuel directly to gas stations, by passing a resolution to boost fuel industry competition, although additional legislation is required to bypass fuel distributors. The resolution by CNPE, the energy policy council, includes the option for direct sales by mills. Brazil’s Economy... Continue Reading →
6/5/2019 Ocyan completes four years of deepwater technology on the Brazilian coast with controlled pressure drilling (MPD or Managed Presure Drilling), ensuring greater operational safety in the development of complex wells. Since the end of 2014, the company has drilled 20 wells with this technique, mainly operated by the rigs: ODN I, ODN II and... Continue Reading →
June 4, 2019 Projects in the Brazilian pre-salt are highlights in the company's global strategy until 2025 Deepwater operations in Brazil are one of the most important exploration and production projects in Shell's global portfolio by 2025, according to analysts' presentation on Tuesday. The company's effort is to develop deep-water and ultra-deepwater projects to grow... Continue Reading →
Petrobras asked for the installation license (LI) for the Carioca FPSO (Mero I), the production pilot of the Mero field, in the Santos pre-salt. It will be the first definitive FPSO at Mero. The Carioca is being built and will be operated by Modec, with first oil planned for 2021. Mero produced 41,000 barrels a... Continue Reading →
Offshore accommodation rig owners Prosafe and Floatel have agreed to merge businesses in what they say is a “merger of equals.” “The aim is to create a more robust company with improved services and geographical presence, able to sustain a prolonged cyclical downturn and challenging markets for offshore accommodation,” Prosafe said in a statement on... Continue Reading →
Shares in petrochemical producer Braskem were down 20 percent in pre-market trading in Sao Paulo after petrochemical giant LyondellBasell Industries NV on Tuesday said it had ended talks with Braskem SA’s controlling shareholder, Brazilian construction conglomerate Odebrecht SA, to acquire the company. Reuters reported in March that talks with Brazilian conglomerate Odebrecht SA over a... Continue Reading →
Brazil Energy Insight 