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The OPEC+ countries will not be able to increase their collective oil production levels in the second half of 2019 without having a detrimental effect on oil prices, according to Norwegian oil and gas intelligence firm Rystad Energy. Even though a production increase is off the cards without influencing prices, Rystad Energy said on Tuesday... Continue Reading →
The Brazilian government will allow companies in the sugar and ethanol sector to raise capital for investments through the issuance of notes that are exempt from income tax, Energy Minister Bento Albuquerque said on Monday. Albuquerque and other government officials signed an order on Monday during the Ethanol Summit in Sao Paulo including the sugar... Continue Reading →
June 14, 2019 The Brazilian Natural Gas Market Competition Promotion Committee, coordinated by the Ministry of Mines and Energy (MME), ends the month of May with a positive and optimistic balance regarding the dialogues and understandings in the actions that seek to open the Brazilian gas market. It is expected that the Committee will conclude... Continue Reading →
June 17, 2019 Petrobras has made its biggest discovery in the Sergipe since the pre-salt in 2006. Of six fields, it expects to extract 20 million cubic meters a day of natural gas, equivalent to a third of the total Brazilian production. Reported last month, the finding is expected to generate $ 7 billion in... Continue Reading →
June 17, 2019 Petróleo Brasileiro SA - Petrobras, regarding the news published in the media, related the discovery of natural gas in the Sergipe Basin, clarifies that, in recent years, six deepwater discoveries have been confirmed in the Sergipe Basin: Cumbe, Barra, Farfan, Muriú, Moita Bonita and Poço Verde, as already disclosed to the market.... Continue Reading →
Brazilian conglomerate Odebrecht SA’s construction unit expects to speed up talks with Petroleo Brasileiro SA to resume providing services to the state-run oil company and participate in its public auctions in the second half of 2019, an Odebrecht executive said on Thursday. Olga Pontes, Odebrecht’s compliance director, says Odebrecht Engenharia e Construcao (OEC) should be... Continue Reading →
The head of Brazilian state development bank BNDES has submitted a letter of resignation amid public tensions with President Jair Bolsonaro, reflecting the serious divisions that continue to plague the administration’s upper echelons. In a statement seen by Reuters on Sunday, Joaquim Levy, a University of Chicago-educated economist and former finance minister who was appointed... Continue Reading →
Welcome to the BP Statistical Review of World Energy, which records the events of 2018: a year in which there was a growing divide between societal demands for an accelerated transition to a low carbon energy system and the actual pace of progress. In particular, the data compiled in this year’s Review suggest that in... Continue Reading →
Rio de Janeiro, June 14, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/12/2018, informs that the General Arbitration Court of the Buenos Aires Stock Exchange ("Arbitral Tribunal") acknowledged the withdrawal of the arbitration initiated against the company (and other legal entities and individuals) by Consumidores Financieros Asociación Civil... Continue Reading →
Suddenly there’s a lot going on in the Mexican offshore rig market. So much that it’s confusing. Here’s your guide to what’s happening. It seems like yesterday that Pemex was renegotiating jack-up rig contracts and putting rigs on standby as drilling demand in Mexico plummeted. Oil production dropped from around 2.5 million barrels per day... Continue Reading →
