Oil major BP Plc plans to move quickly to develop oilfields in the two blocks that it won in Brazil’s deepwater oil region on Friday that it sees as a good bet in any price scenario, senior executives said. Read more
Results of Round 2 and Round 3
Round 2 Campos Basin – Sudoeste de Tartaruga Verde – No Bids Santos Basin – Sul do Gato do Mato – winners Shell 80% Operator Total 20% Sapinhoa – winners Petrobras 45% Operator Repsol Sinipec 25% Shell 30% Norte do Carcara – winners Statoil 40% operator Exxon 40% Petrogal 20% Total bonus R$... Continue Reading →
Petrobras Divestment in the Fertilizer Sector: Start of the non-binding phase
Rio de Janeiro, October 27, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 09/11/2017 and press release disclosed on 09/28/2017 , informs the start of the non-binding phase regarding the process of divesting 100% of its assets in Araucária Nitrogenados SA ("ANSA") and in the Nitrogen Fertilizer Unit III... Continue Reading →
Shell, Exxon win blocks in Brazil’s pre-salt oil auction
Oil majors Royal Dutch Shell RDSA.L and Exxon Mobil (XOM.N) won blocks in Brazil’s coveted pre-salt oil region in an auction on Friday. Shell was part of consortia that won two of the four blocks on offer in the first part of an eight block auction. Exxon, in a consortium with Norway’s Statoil (STL.OL) and... Continue Reading →
Consortia with Shell, Total win pre-salt block in Brazil
RIO DE JANEIRO (Reuters) - A consortia led by Royal Dutch Shell Plc (RDSa.L) and including French major Total SA (TOTF.PA) won the right to explore Brazil’s pre-salt oil block, named Sul de Gato do Mato, during an auction on Friday. The companies pledged 11.53 percent of the oil after costs to the government, oil... Continue Reading →
Delay in Brazil’s pre-salt oil auction overturned
A suspension of the biggest oilfield auction in Brazil for years was overturned on Friday two hours after bidding was to start, as the government successfully appealed a federal judge’s ruling that stopped the sale of blocks in the country’s coveted pre-salt region. Read more
Exxon, Chevron third-quarter profits jump on rising commodity prices
Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), two of the world’s largest oil producers, said on Friday their quarterly profits each jumped about 50 percent, helped by rising commodity prices and lower costs. Read more
Total’s Profit Jumps as Big Oil Shows Rebound From Deep Slump
Total SA posted the highest earnings from pumping oil and gas in more than two years, illustrating the improving fortunes of an industry that’s endured the deepest downturn in a generation. Read more
Brazil confident of oil auction, appeals injunction
Brazil’s government has appealed an injunction suspending a pre-salt oil auction and expects the bidding to go ahead as planned on Friday, the Mining and Energy minister Fernando Coelho Filho told Reuters. Read more
Big Oil executives jet to Rio for deepwater oil sale
Brazil will auction eight blocks in its coveted deepwater oil region on Friday, a prospect that has attracted top executives from the world’s biggest oil companies to Rio de Janeiro for the bidding round. The oil companies and Brazilian officials expect to see aggressive bidding for the more than 12 billion barrels of estimated oil... Continue Reading →
Brazil Energy Insight 