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The Norwegian energy research and consultancy said on Thursday that new finds totaled 6.7 billion barrels of oil equivalent (boe) in the first half of 2019. The 1,123 million boe average monthly discovered volumes year-to-date is a 35% uplift compared to the 827 million boe seen in 2018. So far, 2019 has been a year... Continue Reading →
Overhauling the bloated public pension system has been a ubiquitous topic among Brazil investors for years now, the change nearly every money manager would cite when asked what the country needed most. Now that it’s finally here, traders seem to want a whole lot more. The revamp, which is expected to save the government almost... Continue Reading →
The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails. Carlos Urzua resigned Tuesday, citing conflicts of interest and policy disagreements within Andres Manuel Lopez Obrador’s administration. That sent the peso plunging as much as 2.3%, and stocks sliding. Yields on both sovereign and Petroleos Mexicanos bonds surged, reflecting... Continue Reading →
July 11, 2019 Petróleo Brasileiro S.A. – Petrobras clarifies, in relation to the note published today, by columnist Ancelmo Góis, in O Globo, that the information regarding the sale project of Pampo and Enchova Clusters is not correct, especially as to the reasons that led the company to carry out a new round of proposals... Continue Reading →
July 11, 2019 Petrobras partners in the project want to anticipate exploratory activities in the block of the 4th round of production sharing The consortium formed by Petrobras, Equinor, ExxonMobil and Petrogal could anticipate the drilling of the first exploratory well in Uirapuru, the Santos Basin block from the 4th round of production sharing in... Continue Reading →
The Dominican Republic on Wednesday launched its first ever oil and gas licensing round, offering 14 offshore and onshore blocks up for bidding to interested oil companies. The blocks on offer are located in the Cibao, Enriquillo, Azua, and San Pedro basins of the Carribean island nation. Energy intelligence group Wood Mackenzie is assisting the... Continue Reading →
Brazil’s lower house of Congress approved a landmark overhaul of the country’s pension system on Wednesday by a far wider margin than predicted, delivering a resounding victory to the government in its quest to revive public finances. The lower house passed the main text of the bill by a vote of 379 in favor and... Continue Reading →
Rio de Janeiro, July 11, 2019 - Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 05/06/2019, announces the beginning of the non-binding phase related to the sale of its 34% stake in Compañia MEGA SA ("MEGA"), in Argentina, through its wholly-owned subsidiary Petrobras International Braspetro B.V. (“PIB BV”). Interested parties qualified for... Continue Reading →
The sale of state-owned assets is expected to drive M&A transactions and share offerings volume in Brazil in the second half of the year, bankers and investors said, after a slower-than-expected first half. As court injunctions delayed asset sales by oil company Petroleo Brasileiro SA (PETR4.SA) and discussion of pension reform dragged on in Congress,... Continue Reading →
Bolivia’s state-owned oil company YPFB plans to bid on a stake in a natural gas pipeline linking the country to Brazil to secure better terms for its gas sales there, the company said on Tuesday. YPFB intends to bid on an unidentified portion of the 51% stake that Brazil’s state-owned energy company Petroleo Brasileiro SA... Continue Reading →
