Singapore’s Keppel Offshore & Marine (Keppel O&M) has secured projects from repeat customers Petrobras and SOFEC worth a combined value of approximately S$130 million ($96.2M). The projects were secured through Keppel O&M’s wholly-owned subsidiaries, Keppel FELS Brasil S.A. and Keppel Shipyard Ltd, the company said on Monday. Read more
Brazil’s PSDB picks Sao Paulo Gov. Alckmin to lead it into 2018 race
The centrist Brazilian Social Democracy Party, or PSDB, elected four-time Sao Paulo Governor Geraldo Alckmin as its leader on Saturday, making him its most likely presidential nominee in next year’s elections. Read more
LetterOne, BASF in talks to merge oil & gas businesses
Russian billionaire Mikhail Fridman’s LetterOne and Germany’s BASF have signed a letter of intent to merge their oil and gas businesses into a joint venture named Wintershall DEA. The oil and gas business of BASF is bundled in the Wintershall Group consisting of Wintershall Holding GmbH and its subsidiaries, including the gas transportation business. The oil... Continue Reading →
Petrobras eyes adjustments in fuel pricing to fight importers
Brazil’s state-controlled oil company Petrobras could make more adjustments to its fuel pricing policy as a way to better fight fuel importers for market share, its executive manager for fuel sales said on Friday. Read more
Petrobras – Review of the LPG price readjustment methodology for residential use
Rio de Janeiro, December 7, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its Executive Group of Market and Prices (GEMP) has decided to review the methodology that has been applied to the price readjustments of LPG for residential use, sold in cylinders of 13 kg. The methodology to be defined will seek to... Continue Reading →
NTN GAS PIPELINE NETWORK PURCHASE PROPOSALS TO BE DELIVERED NEXT WEEK
The proposals for the purchase of 90% of the network of more than 3 thousand kilometers of pipelines in the Northeast, NTN, are scheduled for next Tuesday. This network the transports and stores natural gas for the north and northeast of Brazil. Petrobras expects to raise at least U$ 6 billion from this sale.... Continue Reading →
Venezuela-China Relationship Sours as Sinopec Sues PDVSA
China Petroleum & Chemical Corp., the state-controlled oil company, is suing Petroleos de Venezuela SA in U.S. courts for unpaid bills. Sinopec, as the Chinese company is known, also filed a request for arbitration against PDVSA at the International Chamber of Commerce, as it alleges damages of at least $23.7 million, according to court papers.... Continue Reading →
Petrobras receives more than R$ 650 million recovered by Operation Car Wash
Rio de Janeiro, December 7, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that it has received the return of about R$ 654 million through cooperation agreements concluded with individuals and legal entities within the scope of the Car Wash Operation. With this return, the total amount of resources transferred to Petrobras since the beginning... Continue Reading →
Total is the first private pre-salt production operator
December 7, 2017 The ANP board approved the transfer of 35% of Petrobras' stake and the operation of the Lapa field, in the pre-salt Santos Basin, to Total. The agency's board decided to segregate the Lapa development area into a new concession agreement. The acquisition of 35% of the field of Lapa is part of... Continue Reading →
China’s $160 Billion Energy M&A Binge Was Bad for Most Investors
If history is any guide, investors in China’s biggest oil companies may lose out as a record $35 billion in cash is tapped for a fresh round of deals, according to Sanford C. Bernstein & Co. LLC. Most of their $160 billion-plus worth of M&A during the past two decades has destroyed rather than added to... Continue Reading →
Brazil Energy Insight 