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(Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fifth week in a row to the lowest since November 2021, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. It was the first time since September 2023 that the... Continue Reading →
(Reuters) - Moody's Ratings on Friday changed its outlook on Brazil to stable from positive while affirming its Ba1 ratings, citing "slower-than-expected progress in addressing spending rigidity and building credibility around fiscal policy." In its report, Moody's, which had upgraded Brazil in October to the Ba1 sovereign rating - one step from investment grade -... Continue Reading →
The National Petroleum Agency (ANP) published the new versions of the notice and contracts for the Permanent Production Sharing Offer (OPP). One of the new features was the exclusion of the Mogno block, as it is located outside the Brazilian Exclusive Economic Zone, where there are still no guidelines applicable to the production sharing regime.... Continue Reading →
(oilnow.gy) Since ExxonMobil’s historic Liza discovery in 2015, the Stabroek Block offshore Guyana has yielded a string of world-class oil finds. While Liza remains the biggest discovery to date, several subsequent wells have encountered major oil-bearing reservoirs. Here is a ranking of the top discoveries after Liza, based on the thickness of high-quality oil or... Continue Reading →
(Reuters) - The average cost of Brazil's domestic debt issuance rose to the highest level in more than eight years, Treasury data showed on Wednesday, as elevated interest rates and persistent inflation continue to weigh on the country's debt profile. The cost reached 13.05% in April, up from 12.61% the previous month and the highest... Continue Reading →
(Reuters) - Finland's Wartsila is betting that a more nimble way to generate power with ethanol will prove viable in Brazil where similar efforts by major firms floundered a decade ago. Wartsila announced a partnership in March with a power plant in the northeast Brazilian city of Recife, where a four-megawatt engine will burn ethanol for 4,000... Continue Reading →
(CNN) Shell expects to drill an exploratory oil well in the Pelotas Basin, a new exploration frontier, in 2028, said Lucio Prevatti, the company's general manager for exploration and development in Brazil, during an event in Rio de Janeiro. According to him, Brazil needs to find new producing areas to replenish its reserves and meet... Continue Reading →
(TN) MODEC's fleet continues to stand out in the Brazilian offshore production scenario. According to the Dynamic Oil and Natural Gas Production Panel, from April 2025, made available by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), FPSO Guanabara MV31, FPSO Almirante Barroso MV32 and FPSO Carioca MV30 are among the ten largest... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that its Executive Board, in a meeting held on this date, pursuant to item VII of Article 34 of its Bylaws, approved the 8th (eighth) issuance of simple debentures, not convertible into shares, in up to three series, unsecured, in the total amount of R$ 3,000,000,000.00 (three billion reais)... Continue Reading →
(offshoreWIND.biz) Gazelle Wind Power has secured an investment for business growth and the development of its 2 MW floating wind demonstrator project in Portugal. The EUR 2 million investment was closed with Banco Português de Fomento (BPF) through the Deal-by-Deal Co-Investment Programme, in partnership with Indico Capital Partners. According to BPF, the investment will allow... Continue Reading →
Brazil Energy Insight 