Brought to you by Quest Offshore & Southern Cone Consultants
Oil surged after OPEC approved the first supply cuts in eight years in an effort to ease a record glut and stabilize global markets. Futures jumped as much as 9.2 percent in New York. OPEC has agreed to reduce collective production to 32.5 million barrels a day, Iranian Oil Minister Bijan Namdar Zanganeh told reporters in Vienna... Continue Reading →
Law signed by the President this Tuesday (29 November) gives Petrobras the right, but not the obligation, to participate in exploration blocks Published: Nov 29, 2016 09:03 PM President sanctions new pre-salt regulations during a ceremony at the Presidential Palace The new regulatory framework for the pre-salt layer will re-energize and give new impetus... Continue Reading →
Brazil’s central bank is poised to separate itself even further from its emerging-market peers as it seeks to revive growth in Latin America’s biggest economy. While countries including Mexico, Turkey and Russia are either raising interest rates or keeping them unchanged, Brazil probably will slash benchmark borrowing costs for the second straight month on Wednesday, according... Continue Reading →
Brazil's Senate on Tuesday approved a strict cap on federal spending in a first-round vote that hands a timely victory to President Michel Temer, who is struggling to restore fiscal discipline amid an economic recession and political crisis. Demonstrators protesting the austerity measure burned cars and smashed windows of government buildings with rocks outside the... Continue Reading →
Chevron Corp. has joined forces with Petroleos Mexicanos and Japan’s Inpex Corp. to bid next week for the right to explore for oil and natural gas, the first time the state-owned operator will partner with private companies to develop crude in the Gulf of Mexico. Seven groups and eight individual bidders have been qualified to... Continue Reading →
Posted by Michelle Howard November 28, 2016 * Floating oil production, storage and offloading (FPSO) firm BW Offshore is bidding on contracts for the Libra 1 and Sepia oilfields offshore Brazil * CEO Carl Arnet says expects to deliver tenders to Petrobras on Libra I in December and on Sepia in January * CEO Arnet... Continue Reading →
Rio de Janeiro, November 28, 2016 - Petróleo Brasileiro S.A. - Petrobras, further to the Material Fact disclosed on November 22, 2016, informs that the amount of US$ 1.25 billion received upon the closing of the sale of the stake in the exploration block BM-S-8 to Statoil Brasil Óleo e Gás LTDA is being used... Continue Reading →
U.S. President-elect Donald Trump's surprise victory could be a blessing in disguise for Brazil as the country's agenda of fiscal reform and low reliance on trade lure investors away from more vulnerable Mexican markets. Emerging markets have sold off since the Nov. 8 election on concerns tax cuts and heavy infrastructure spending under a Trump... Continue Reading →
The penthouse in the Rio de Janeiro headquarters of Brazil’s state lending giant was once occupied by its president and his assistants, and featured a room reserved for the head-of-state when visiting from Brasilia. That office was one of the first things that the bank’s new cost-costing overseer Maria Silvia Bastos overhauled when she arrived... Continue Reading →
Brazilian engineering group Odebrecht SA said it has agreed to sell its Olmos irrigation business in Peru to Brookfield Infrastructure Partners LP and Suez SA for an undisclosed sum. The announcement follows Odebrecht's failed attempt to sell its majority stake in a $5 billion natural gas pipeline project in Peru to Sempra Energy, which backed... Continue Reading →
Brazil Energy Insight 