Brought to you by Quest Offshore & Southern Cone Consultants
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 →
July 10, 2019 (Bloomberg) - US agribusiness giant Bunge Ltd. is in talks with British oil company BP Plc to create a joint sugar and ethanol company in Brazil, according to people familiar with the matter. The companies are in talks to merge operations in the South American nation, one of the largest producers of... Continue Reading →
July 9, 2019 Finance Secretary Carlos Urzúa announced his resignation today in a strongly worded letter that criticized the public policy decision making process within the government and the appointment of officials with no knowledge of public finances. “Discrepancies over economic matters were plentiful,” Urzúa wrote in a letter addressed to President López Obrador that... Continue Reading →
Petrobras has completed the discovery plans of Quindim and Brigadeiro, deepwater prospects of the Espírito Santo Basin, at the cluster called the Parque dos Doces. They are discoveries in the post-salt made in 2011 in block ES-M-525, of the 6th round of the ANP. Petrobras has not drilled in the region since 2016. The Parque... Continue Reading →
PetroRio recorded a 36% increase in its total oil and gas production in the second quarter of this year. Extracted volume increased from 14,953 barrels / day of oil equivalent from January to March to 20,272 barrels / day from April to June, according to company operating data released on Monday (8). This total corresponds... Continue Reading →
July 10, 2019 With the increase in pre-salt production, the oil companies are preparing to raise their exports. The National Petroleum Agency (ANP) estimates that shipments of crude oil abroad can more than triple by 2030. In this scenario, companies in the industry move in search of logistics options to facilitate the flow of production... Continue Reading →
Siemens will provide MODEC with three 34-megawatt (MW) SGT-A35 gas turbine power generation packages that will power MODEC’s floating production, storage, and offloading (FPSO) vessel. The vessel, referred to as the “Eni Mexico Area 1 FPSO,” will be deployed in the Offshore Area 1 approximately 6 mi (10 km) off the coast of Mexico at... Continue Reading →
RIO DE JANIERO and MEXICO CITY (Bloomberg) -- Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has disappointed potential partners by eschewing deep-water blocks in favor... Continue Reading →
July 09, 2019 Director General of the ANP, Décio Oddone bets on a "significant" return to onshore in the next five years Investment in mature fields in Brazil is an absolute priority of the ANP, said the director general of the agency, Décio Oddone, during a public hearing in the Chamber of Deputies. "The capillarity... Continue Reading →
