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Dec 16, 2019 The Brazilian Institute of Oil, Gas and Biofuels (IBP) has sent a letter to the Ministries of Economy and Infrastructure asking the government to evaluate the inclusion of tankers in the BR do Mar project, the Bolsonaro government's promise to encourage cabotage navigation. in Brazil. The IBP, which represents oil companies installed... Continue Reading →
December 17, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 11/01/2019, announces that it has started the binding phase referring to the sale of its interest in fifteen onshore exploratory blocks, located in the Sergipe-Alagoas Basin. Qualified parties for this phase will receive a process letter with instructions on the... Continue Reading →
Dec 16, 2019, Odebrecht shifts command at a crucial time for the company. Current group president Luciano Guidolin will be replaced by Ruy Sampaio, currently chairman of the board. The company has a meeting of creditors about the judicial recovery scheduled for Thursday, the 19th. Guidolin is expected to remain a member of the board of directors of... Continue Reading →
Total said on Monday it had signed a sale and purchase agreement with state-owned Sonangol of Angola to acquire interests in Blocks 20/11 and 21/09 in the Kwanza Basin, offshore Luanda. Subject to the approvals of the competent authorities and partners, the group will hold a 50% working interest, alongside Sonangol (20%) and BP (30%),... Continue Reading →
December 16, 2019 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on August 14, 2019, reports that it has prepaid today a US$ 5 billion loan with China Development Bank (CDB), due in 2027. This prepayment will lead to the termination of the obligation to preferentially supply, under market conditions and... Continue Reading →
Guyana has invited companies interested in purchasing the first three deliveries of the government's share of the country's looming oil production to present bids this week, the government said in a statement on Sunday. The government will later seek proposals from companies interested in a longer-term contract to market Guyanese crude, the statement said. Continue... Continue Reading →
An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions. Dutch group Follow This is targeting U.S. giants ExxonMobil, Chevron and their European rivals Royal Dutch Shell, BP and Equinor with climate resolutions ahead of... Continue Reading →
The United Kingdom’s latest offshore licensing round has attracted 104 applications covering 245 blocks or part-blocks across the main producing areas of the UK Continental Shelf (UKCS). Applications were received from 71 companies ranging from multinationals to new country entrants, according to a Monday statement by UK’s Oil and Gas Authority (OGA). The 32nd UK... Continue Reading →
Dec. 16, 2019 Reduction of state company’s presence in other regions creates resistance from workers and politicians In a presentation to foreign investors last week, Petrobras pointed to its future on a map with assets only in the Southeast region and the possibility of investments in logistics to serve Southeast and Midwest, a major consumer... Continue Reading →
December 16, 2019 Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure stage ( teaser) , referring to the sale of its interest in the concession BM-P2, located in the Pelotas Basin, in the state of Rio Grande do Sul. Petrobras and Total are partners in this concession and each has... Continue Reading →
