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Brazilian state-run oil firm Petroleo Brasileiro SA posted quarterly results that missed expectations on Tuesday, although management flagged a potential production boost in the second quarter as new platforms ramp up output. Petrobras, as the firm is known, posted a quarterly profit of 4.03 billion reais ($1.02 billion), down 42 percent from the same period... Continue Reading →
Rio de Janeiro, May 7, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total amount of R$ 1,304,420,126.10, corresponding to R$ 0.10 per outstanding common and preferred share. The payment... Continue Reading →
German engineering giant, Siemens AG, is carving out and listing its flagging gas and power division and cutting more than 10,000 jobs in a sweeping overhaul. The unit will be spun off into a separately managed company and listed by September 2020, according to a statement Tuesday. Siemens will retain “somewhat less than 50%” of... Continue Reading →
May 7, 2019 Company estimates to produce up to 500,000 barrels per day in Brazil in 2030 Equinor estimates it will produce between 300,000 and 500,000 barrels per day of oil and gas in Brazil by 2030. The information was released this Tuesday (7) by Equinor's vice president of Supply Chain in Brazil, Mauro Andrade,... Continue Reading →
Annual inflation in Brazil is expected to have topped 5 percent in March for the first time in over two years, according to a Reuters poll of economists, a potential dilemma for policymakers hoping it falls back to target sooner rather than later. The median estimate from 19 economists is for annual consumer price inflation... Continue Reading →
The company has announced to the market that some of its priorities are the reduction of its debt and the sale of assets. However, during the OTC Houston 2019, the company's technology and production development director Rudimar Andreis Lorenzatto said that technological innovation for deepwater exploration is also on the agenda. On the company’s radar,... Continue Reading →
05/05/2019 Ministers Bento Albuquerque (Mines and Energy) and Paulo Guedes (Economy) will deliver this Tuesday to the president of TCU, José Mucio, all documents related to the revision of the Transfer of Rights assignment with Petrobras and the pre-salt mega auction. The bidding round is scheduled for October 28. The TCU endorsement is seen as... Continue Reading →
Offshore oil and gas industry will continue to thrive and has much to offer in the future despite oil price downturns and the shale revolution, according to Norwegian oil and gas intelligence firm Rystad Energy. For the 50th anniversary of world’s largest offshore industry event, OTC in Houston, Rystad Energy asked the following question: “What... Continue Reading →
The Brazilian civil engineering and construction firm Odebrecht SA is rebranding, following years in the spotlight of political corruption schemes that rattled Latin America. From now on, Odebrecht Engineering & Construction will be known by the initials “OEC” and feature green, blue and gray colors on its new logo, according to a statement on the company’s website.... Continue Reading →
Petrobras has reported that it has acquired data and geological and geophysical information on sedimentary basins located abroad, in addition to those already routinely collected in Brazil. In this way, Petrobras has access to other geological models, which allows it to improve the processing of its data and to interpret its own geological models more... Continue Reading →
Brazil Energy Insight 