Rio de Janeiro, October 27, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on May 25, 2017, reports that it has acquired, in partnership with other companies, three offshore blocks in the 2nd and 3rd bidding rounds under the production sharing regime, held today by the National Agency of Petroleum,... Continue Reading →
Factbox: Winners of Brazil’s pre-salt oil round
The Brazilian government awarded on Friday rights for companies to explore high-potential oil blocks in Brazil’s pre-salt offshore region. Six out of eight blocks offered received bids. The pre-salt blocks offered to investors will be governed by production-sharing contracts. Companies had to agree to pay a fixed signing bonus and offer the government a share... Continue Reading →
Chevron Joins the Oil Party as Cuts, Sales Spur Outsized Results
Chevron Corp. joined the widening array of oil explorers trampling analysts’ profit forecasts with outsized results fed by climbing crude prices and uncharacteristic frugality. Chevron posted third-quarter per-share net income that exceeded the 99-cent average of 19 estimates in a Bloomberg survey. The outcome validated Chief Executive Officer John Watson’s sweeping job cuts, project cancellations... Continue Reading →
Shell wins three oil blocks in Brazil’s deepwater
Oil major Royal Dutch Shell Plc RDSA.L won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP (BP.L) took two blocks and Exxon Mobil Corp (XOM.N) took one in a historic opening of the pre-salt play to foreign operators. Read more
BP keen to develop Brazil oil blocks quickly: executive
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
Brazil Energy Insight 