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Michel Temer is Brazil’s most unpopular president on record and his government got no "very good" rating at all from women as he faces corruption charges and pushes economic austerity measures, an opinion survey showed. Read more
Brazil’s oil company QGEP has completed two separate farm-out agreements, one with ExxonMobil and one with Murphy Oil. The farm-out agreements are for Blocks SEAL-M-351 and SEAL-M-428 located in the Sergipe-Alagoas Basin. Additionally, QGEP and its partners have been awarded blocks SEAL-M-501 and SEAL-M-503 in Wednesday’s 14th ANP Bidding Round. Read more
TechnipFMC has been awarded an engineering, procurement, construction and installation (EPCI) contract by Statoil for the Peregrino Phase II Project in Brazil. According to TechnipFMC’s statement on Thursday, the contract covers the execution of the subsea pipeline connection for the new production platform in Peregrino Phase II Project, located in Campos Basin, offshore Brazil. Read more
The Brazilian offshore rig market will probably never see a return to its halcyon days of 2012. But these days, the market needs any increase in demand for deepwater rigs it can get, and Brazil is one of the best bets through the rest of this decade. Two factors support a positive outlook for offshore drilling... Continue Reading →
Rio de Janeiro, September 27, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors, in a meeting held today, has reinstated the Chief Governance and Compliance Executive Officer of Petrobras, João Adalberto Elek Júnior, who was temporarily removed from the post, according to the Material Fact published on August 23, 2017.... Continue Reading →
Brazilian oil and gas regulators on Wednesday held the 14th bidding round for oil and gas exploration blocks, and it broke some cash records. Namely, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) said the round, in which 20 companies took part, had the largest total signature bonus in history – over R$... Continue Reading →
Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday, winning a total of eight offshore blocks in the country’s 14th oil bidding round, helping the cash-strapped nation to fetch a record 3.8 billion reais ($1.19 billion). Exxon Mobil took six blocks in consortia with state-controlled oil giant Petroleo Brasileiro in the promising offshore... Continue Reading →
Karoon Gas Australia Ltd won the block with a signing bonus worth 20 million reais ($6.3 million), but the remaining 75 blocks in the basin received no bids, oil industry watchdog ANP said. Officials expected to sell up to 40 percent of the blocks, raising 500 million reais ($157 million). Read more
RIO DE JANEIRO (Reuters) - Petróelo Brasileiro SA has drawn up a strategy to participate in Brazil’s three upcoming oil auctions this year, as a declining debt burden has increased the state-controlled oil producer’s firepower, Chief Executive Officer Pedro Parente said on Wednesday. Petrobras will participate in auctions in which the government will offer areas... Continue Reading →
Eco Atlantic Oil & Gas has entered into an option agreement on its Orinduik block, offshore Guyana, with Total E&P Activités Pétrolières, a wholly owned subsidiary of French oil major Total. Eco Atlantic said on Tuesday that the option agreement provided Total with an option to acquire a 25 percent working interest in the Orinduik... Continue Reading →
Brazil Energy Insight 