5/30/2019 Petrobras has confirmed it will ship oil to China during June and July to respond more quickly to demand from local refineries. The company rented storage tanks in the port city of Qingdao, which will allow the oil company to sell smaller quantities of oil to the local market for immediate delivery, the company... Continue Reading →

5/30/2019 The president of the National Economic and Social Development Bank (BNDES), Joaquim Levy, and the director general of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), Décio Oddone, will be in the front line of the Brazilian commission that goes to Oslo, Norway, next week to publicize the pre-salt opportunities. They participate... Continue Reading →

Brazil’s economy shrank in the first quarter for the first time since 2016, data showed on Thursday, pushing Latin America’s largest economy closer to a double-dip recession. The contraction piled pressure on President Jair Bolsonaro, who was swept into office in January after making market-friendly pledges to boost growth and lift the gloom hanging over... Continue Reading →

May 30, 2019 BW Energy will invest US $ 250 million in the first phase of development of the Maromba field in the Campos Basin, the company said in its first presentation to the market. The start of implementation of the project - which will have four phases of development - is planned for the... Continue Reading →

Many are looking to Offshore as a more beneficial environment to harvest larger volumes of wind energy. Offshore wind farms are developed with ‘bottom fixed’ structures in relatively shallow, near shore waters. As 80% of the best wind resources lie in waters beyond the reach of bottom fixed (~60m), floating wind technology is increasingly accepted... Continue Reading →

Rio de Janeiro, May 30, 2019 - Petróleo Brasileiro S.A. – Petrobras discloses that it has been contacted by the U.S. Commodity Futures Trading Commission (“CFTC”) with an inquiry regarding certain trading activities related to the Car Wash Operation. Petrobras reiterates that it will continue to cooperate with the regulatory authorities regarding any inquiry, reinforcing... Continue Reading →

Rio de Janeiro, May 29, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors, at a meeting held today, elected Mr. Roberto Furian Ardenghy for the position of Chief Institutional Relations Officer. Roberto Ardenghy holds a B.A. in Law from the Federal University of Santa Maria and holds graduate degrees in... Continue Reading →

Brazil aims to make its currency, the real, fully convertible within two to three years, central bank President Roberto Campos Neto said on Wednesday, in an effort to lower the cost of cross-border trade and investment. Speaking to reporters as he unveiled a range of proposals to simplify regulations and make financial markets more flexible... Continue Reading →

5/29/2019 The Administrative Council for Economic Defense (Cade) has unrestrictedly approved the formation of Subsea LLC, a joint venture between Schlumberger and Subsea 7. The creation of the company was announced in February last year but only this month was approved by the German Federal Cartel Office antitrust authority. The Cade document was signed on... Continue Reading →