This is the first time that Dilma Rousseff and the federal govt. are willing to discuss changes in the Pre Salt legislature , which includes Petrobras role as sole operator of the pre salt fields and the local content rule. Senate president, Renan Calheiros, had previously confirmed that the bill written by senator Jose Serra... Continue Reading →
Shell CEO expects Brazil output to quadruple by 2020
Europe's largest oil company, expects to make robust investments in Brazil's offshore, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday. CEO Ben Van Beurden spoke in Brazil shortly after Shell's $52 billion takeover of rival BG Group Plc BG.L, approved in late... Continue Reading →
Shell Makes Brazil One of Top Three Countries After BG Merger
Royal Dutch Shell Plc. has made Brazil one of its top three countries after completing a merger with BG Group Plc, and sees the South American nation’s deep-water fields remaining competitive for years to come. Brazil “will remain a key destination country for us for investment dollars for at least another decade,” Chief Executive Officer... Continue Reading →
Shell Surpasses Chevron to Become No. 2 Oil Company: Chart
Shell Surpasses Chevron to Become No. 2 Oil Company: Chart Rakteem Katakey February 15, 2016 \ Bloomberg Royal Dutch Shell Plc has surpassed Chevron Corp. as the world’s second-biggest non-state oil company after completing the acquisition of BG Group Plc. The purchase raises Shell’s market capitalization to $177 billion and adds new assets in Australia and... Continue Reading →
Shell says investment in Brazil subsalt to remain robust
Feb 15, 2016 Reuters Royal Dutch Shell (RDSa.L), Europe's largest oil company, believes that investment in Brazil's subsalt offshore areas will remain robust, Chief Executive Ben van Beurden said in Rio de Janeiro on Monday. Van Beurden said that subsalt areas should be able to break even at oil prices expected this year. The... Continue Reading →
Sembcorp Marine Posts First Loss Since 2003 on Brazil Impact
Sembcorp Marine Ltd., the world’s second-largest builder of oil rigs, posted its first quarterly loss in at least 12 years after it took a one-time charge and as plunging oil prices pushed customers to delay or cancel orders for offshore drilling projects. The net loss in the fourth quarter totaled S$537 million ($384 million), the... Continue Reading →
Iran, Brazil in talks on investment in Brazil refineries -source
Iran and Brazil are in talks about a possible Iranian investment in troubled refinery projects controlled by Brazilian state-led oil company Petroleo Brasileiro SA, a Brazilian government source told Reuters on Thursday. Iran, which is boosting oil output after the end of sanctions over its nuclear program, is interested in exporting oil to Brazil, processing... Continue Reading →
Petrobras Drops to 16-Year Low as Brazil Stocks Join Global Rout
State-controlled oil producer Petroleo Brasileiro SA sank to the lowest level since 1999 as the Ibovespa fell for a third consecutive day, joining a global market selloff. Petrobras, as Petroleo Brasileiro is known, dropped as oil declined to the lowest in 13 years. Miner Vale SA followed iron ore lower, leading losses among raw-materials companies.... Continue Reading →
Total’s Quarterly Profit Beats Estimates on Oil Output, Refining
Total SA posted fourth-quarter earnings that beat analyst estimates as rising oil and gas production, higher gasoline and lubricant sales, and profit from refining helped it weather a slump in crude prices. The company deepened cost and investment cuts. Adjusted net income fell 26 percent from a year earlier to $2.08 billion, the company based... Continue Reading →
Brazilian Real Joins Emerging-Market Rout as Crude Oil Tumbles
Brazil’s real declined along with the currencies of other developing countries as crude tumbled amid concerns that turmoil in global markets will drag on. The real dropped 0.7 percent to 3.9565 per U.S. dollar as of 9:54 a.m. in Sao Paulo, the lowest level on a closing basis since Feb. 2. Three-month implied volatility on the... Continue Reading →
Brazil Energy Insight 