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Petróleo Brasileiro S.A. – Petrobras informs that, based on an evaluation of its portfolio of opportunities and projects, it has decided to interrupt the development of the infrastructure adequacy project of the Monteiro Lobato Gas Treatment Unit (UTGCA), located in Caraguatatuba-SP. The decision was made due to the project's loss of economic attractiveness, evaluated in... Continue Reading →
The ANP held today the public session of the 2nd Permanent Offer Cycle. 17 exploratory blocks were purchased in six basins (Campos, Paraná, Amazonas, Espírito Santo, Potiguar and Tucano) and an area with marginal accumulations (Juruá, from the Solimões Basin). Together, the 18 areas will receive minimum investments of more than R$ 160 million. For... Continue Reading →
The Danish Parliament has announced that it will cancel all future licensing rounds for new oil and gas exploration and production permits in the Danish part of the North Sea and end existing production by 2050. As a major oil-producing country in the EU, Denmark’s announcement is a landmark decision towards phasing-out fossil fuels in Europe. The... Continue Reading →
Petrobras President Roberto Castello Branco defended changes in the rules for oil exploration and production in Brazil, which he classifies as unattractive to business. For him, the sharing regime must be extinguished. Castello Branco participated in an online chat at Rio Oil & Gas, the largest event in the oil and gas sector in Latin... Continue Reading →
Eni has entered into agreements with Equinor and SSE Renewables to acquire 10 per cent stake in Dogger Bank A and B from each, which will lead to a shareholding setup of SSE and Equinor each owning 40 per cent and Eni holding 20 per cent in the first two phases of what will become... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, regarding the divestment of the Urucu Cluster, clarifies that it has received binding proposals from 3R Petroleum Óleo e Gás S.A. (3R) and Eneva S.A. (Eneva). The proposals are being evaluated by the company, which will subsidize its decision about the... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on July 9, 2020, informs that it has concluded the negotiation phase with the Mubadala Group as part of the process for divesting the Landulpho Alves Refinery (RLAM), in Bahia. As provided by Petrobras' Divestment Methodology, the process is currently undergoing a new round... Continue Reading →
(Reuters) - Vitol Group’s U.S. subsidiary agreed to pay $135 million to resolve allegations by the U.S. government that the energy trader paid bribes in Brazil and other countries to boost its oil trading business, a prosecutor told a judge in Brooklyn on Thursday. The prosecutor said $45 million of the total payment would go... Continue Reading →
(Bloomberg) --OPEC+ reached an agreement to ease its oil-output cuts next year more gradually than previously planned, giving a fragile market more time to absorb the extra supply. The group will add 500,000 barrels a day of production to the market in January -- a quarter of what would have occurred under the prior plan... Continue Reading →
(Reuters) - Brazil’s Petrobras could expand its operations into neighboring Guyana, if the regulatory environment does not improve in Brazil, CEO Roberto Castello Branco said on Thursday, the first official admission of interest in the hot frontier oil play. Petroleo Brasileiro SA, as the company is formally known, has exploration interests off Brazil’s northern coast.... Continue Reading →
