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Marine seismic contractor PXGEO has completed the Sapinhoa 4D Baseline ocean bottom node program in the deepwater Santos Basin, offshore Brazil, for the BMS-9 consortium, which is controlled by Petrobras. The four-month project, which used PXGEO's Manta OBN technology, was on time around the end of October 2021. "The PXGEO COVID-19 mitigation measures were fully... Continue Reading →
(Reuters) - Morgan Stanley on Monday cut its first quarter 2022 Brent crude price forecast to $82.50 per barrel from $95 on market expectations that the Omicron coronavirus variant could turn into a major headwind for oil demand. The market appears to be pricing in the possibility that the new variant could prompt restrictions and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the news released in the media about the agreement with the Administrative Council for Economic Defense (CADE) for the sale of Refinery Abreu e Lima (RNEST) by the end of 2022, clarifies that, as disclosed on 08/25/2021, the interested parties declined to submit a binding proposal, which led the... Continue Reading →
(Reuters) - Oil rebounded by almost 5% on Monday to $76 a barrel as some investors viewed Friday's slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone. While the World Health Organisation has warned that understanding the variant's severity could take time running into weeks, a South African doctor... Continue Reading →
(Reuters) - The Biden administration proposed a slew of changes on Friday to the nation's federal oil and gas leasing program, including hiking fees on drilling companies and limiting their access to sensitive wildlife and cultural zones. The recommendations followed a months-long review aimed at ensuring drilling on federal lands and waters benefits the public.... Continue Reading →
The Brazilian Institute for the Environment (Ibama) granted Petrobras the installation license for the FPSO Almirante Barroso (Buzios 5), which will be installed in the Santos Basin. The license will be valid for six years. The platform ship should only enter into operation in 2023, according to the company's new 2022-2026 Strategic Plan. Initially, Petrobras'... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the news published in the media about the signing of the final transfer of the Landulpho Alves Refinery (RLAM) to Mubadala, clarifies that, as disclosed on 03/24/2021, it signed with MC Brazil Downstream Participações, a company of the Mubadala Capital group, a contract for the sale of the company's... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the news published in the media about a possible offer of preferred shares of Braskem in the first quarter of 2022, clarifies that, as disclosed on June 8, August 9, 20 and 30, October 1 and November 22, its stake in Braskem is still part of the assets contemplated... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 05/11/2021, informs that, after resuming negotiations with Proquigel Química S.A., a subsidiary of Unigel Participações S.A., for the leasing of the TermoCamaçari Thermal Power Plant (UTE TermoCamaçari), located in the State of Bahia, the negotiation was successfully concluded and the asset lease agreement... Continue Reading →
(Reuters) - Risks of a new COVID hit to economic activity are clobbering expectations for rate hikes next year from the world's major central banks, a potential setback for the dollar and other currencies where wagers had been most aggressive. Money markets no longer fully price a 25-basis-point interest rate rise by the Federal Reserve... Continue Reading →
