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Sept 22, 2020 Activity in Brazil’s energy patch keeps ratcheting ever higher. During January 2020, Latin America’s largest economy saw its all-important petroleum industry achieve a new milestone pumping on average a record 3.168 million barrels of crude daily. The COVID-19 pandemic and March 2020 oil price collapse did little to slow the oil boom... Continue Reading →
July 21st, 2020 In a challenging context, we presented solid operational performance in 2Q20. The preventive measures against COVID-19 demanded a reduction in the number of shifts in our operations, in which we have been working with 50% of the regular staff. In view of this new scenario for the oil and gas industry, we... Continue Reading →
Jul 17, 2020 Among the units licensed by Petrobras are four with a capacity to produce 225,000 bopd On Thursday (7/15), Petrobras requested a license from Ibama for the implementation of 12 FPSOs in the Santos Basin pre-salt and the reactivation of an FPSO in Mero (“FPSO Mero FR”). There are four new units for... Continue Reading →
Jul 16, 2020 The Oil and Gas Climate Initiative (OGCI), a group made up of large oil companies to respond to the O&G industry's global change, announced today a new emission reduction target. The consortium aims to reduce from 20 kg to 21 kg of CO2 for each barrel of equivalent oil sold in the... Continue Reading →
French major Total has been named the upstream industry’s most-admired explorer, an accolade awarded in conjunction with Wood Mackenzie’s annual Exploration Survey. Dr. Andrew Latham, Vice President, Global Exploration Research, at Wood Mackenzie, said: “For the past 12 years, Wood Mackenzie has named the industry’s Most-Admired Explorer after collating the results of our industry-leading annual... Continue Reading →
Jun 29, 2020 The oil unions are reacting hard and even with some indignation to the decision of the Petrobras Board of Directors, which, in early June, approved a change in the internal policy of the state-owned company, authorizing the increase of the appointments of outside professionals for the company's high command. The measure raises... Continue Reading →
According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry. Andrew Pearson, vice president, upstream, said: "This figure captures the impact of Wood Mackenzie’s downgraded long-term Brent price assumption – now US$50/bbl (2020 terms), rather than the previous US$60/bbl – and much more. Continue reading
Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 billion this year, the lowest level in 15 years and a staggering 29 per cent decrease of $156 billion compared to 2019, according to Rystad’s... Continue Reading →
Brazil Energy Insight 