The National Energy Policy Council (CNPE) has four pre-bidding areas in the 3rd round of sharing in November. The director of the National Petroleum Agency (ANP), Felipe Kury, confirmed that the areas of the auction include Pau Brazil, Peroba, Saturn and Alto de Cabo Frio the last two adjacent areas and will be auctioned... Continue Reading →
Exclusive: Brazil conglomerate Odebrecht mulls IPO after overhaul
Odebrecht SA, the family-controlled engineering conglomerate ensnared in Brazil's worst corruption scandal ever, is considering going public once it finalizes a thorough overhaul of corporate governance practices, a senior executive told Reuters on Thursday. An initial public offering remains one of several options the group and the namesake family that controls it are analyzing as... Continue Reading →
Odebrecht scandal could threaten public-private partnerships, IADB says
The Odebrecht corruption scandal could threaten public-private partnerships that are needed to build infrastructure throughout Latin America, the president of the Inter-American Development Bank (IADB) said on Thursday. The Brazilian builder admitted to paying hundreds of millions of dollars of bribes in 12 countries, mostly in Latin America, as part of a settlement with U.S.... Continue Reading →
P-69 arrives in Brazil to be completed
The FPSO P-69 hull arrived on the 28/3, at the Brasfels shipyard, in Angra dos Reis (RJ). This integration site will include the installation of the modules on the hull, the interconnection of all the equipment of the platform and the commissioning of the operating systems (set of tests to verify that the systems are... Continue Reading →
FPSO Pioneiro de Libra on its way to Brazil
The FPSO owned by the 50/50 joint venture between OOG and Teekay Partners is heading to Brazil on a voyage expected to last around 65 days, ending in early June. Pioneiro de Libra will be the first to produce oil in the giant Libra Block. Since the naming of the FPSO in December of last... Continue Reading →
Exxon makes another discovery offshore Guyana
U.S. oil giant Exxon Mobil is at it again. The company on Thursday announced “positive results” on the Snoek well offshore Guyana, confirming a new – third – discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara, Exxon said. Read more
Woodmac sees signs of improvement in deepwater sector
Deepwater oil and gas industry, generally considered an expensive investment, has managed to cut its costs to a certain level, allowing its most attractive deepwater projects to now compete with US tight oil plays, Wood Mackenzie said. However, more cuts are needed to drive the deepwater breakevens further down. Read more
Former Brazil house speaker Cunha sentenced to 15 years for graft
Brazil's former speaker of the lower house, Eduardo Cunha, was found guilty and sentenced to more than 15 years in prison on corruption charges on Thursday, according to the ruling from a federal court. The former politician's defense team said they would appeal the decision but Cunha will remain imprisoned pending appeal. Cunha, who drove... Continue Reading →
Petrobras restarts works for completion of the Emission Abatement Unit at RNEST refinery
Petrobras signed the work order to restart work for the completion of the Emission Abatement Unit of the Abreu e Lima Refinery (RNEST), in Pernambuco. The start-up of the unit is planned for June 2018, which will allow the operation of the first refinery train at full load. The contract for the supply of goods... Continue Reading →
Petrobras – Sale process of transfer of rights for Baúna and Tartaruga Verde
Rio de Janeiro, March 29, 2017 – Petróleo Brasileiro S.A. – Petrobras, in continuation to the material facts of 10/6/2016, 12/20/2016, and 3/15/2017 and to the press release of 11/21/2016, clarifies that it has notified the Federal Supreme Court of the impossibility to proceed with the divestment process for the transfer of rights relating to... Continue Reading →
Brazil Energy Insight 