Petrobras will acquire an exclusive 4D streamer seismic and more gravity and magnetometric data through a mega-campaign in the Marlim Sul, Marlim Leste, Barracuda and Caratinga fields, in the Campos Basin. The oil company launched a tender for contracting the service, scheduling the delivery of proposals for December 17th. The 4D streamer seismic mapping will... Continue Reading →
Oil prices retreat in face of supply and demand pressures
(Reuters) - Oil prices fell on Monday as rising COVID-19 cases in Europe and a potential release of Japanese oil reserves raised concerns about both oversupply and weak demand. Brent crude was down 56 cents, or 0.7%, at $78.33 a barrel at 1157 GMT and U.S. West Texas Intermediate (WTI) crude fell 54 cents, or... Continue Reading →
Petrobras Taps Saipem for $940M Búzios 7 SURF EPCI
Brazilian oil company Petrobras has awarded Italy's Saipem a new contract worth $940 million for the delivery of subsea umbilicals, risers, and flowlines (SURF) for the installation of a rigid riser-based subsea system for a project offshore Brazil. The system will be installed at the Búzios 7 pre-salt field located about 200 km offshore the... Continue Reading →
Spike in Amazon deforestation draws shock, ups pressure on Brazil
(Reuters) - Diplomats expressed shock and disappointment on Friday at new data revealing higher-than-expected deforestation in Brazil's Amazon this year, saying it increases pressure on President Jair Bolsonaro's government to do more to stop the destruction. Evidence that Brazil sat on the data for three weeks before announcing it also drew outrage from non-governmental organizations. The... Continue Reading →
Petrobras on the result of an exploratory well in the Santos Basin
Petróleo Brasileiro S.A. – Petrobras informs that it won the bidding for the leasing of the port facility for storage and handling of fuels, called STS08A in the Porto de Santos, held by the National Agency for Waterway Transportation (ANTAQ) this Friday (11/19), in São Paulo. The company offered R$558 million for the area and... Continue Reading →
Petrobras on the form of shareholder remuneration distribution previously approved
Petróleo Brasileiro S.A – Petrobras, following up on the releases disclosed on 08/04/2021 and 10/28/2021, informs that it will carry out the distribution of the anticipation of the remuneration to shareholders relative to 2021 fiscal year, which was approved by the Board of Directors on 08/04/2021 and 10/28/2021 to be paid on December 15, 2021,... Continue Reading →
Oil dives 3% to below $80/bbl on resurgent pandemic in Europe
(Reuters) - Oil prices fell about 3% to below $80 a barrel on Friday as surging COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool prices. Brent futures for January fell $2.35, or 2.9%, to settle at $78.89 a... Continue Reading →
Ecuador planning bids for oil blocks, refinery in 2022 -minister
(Reuters) - Ecuador hopes to hold at least four auctions in 2022 to award oil blocks and the operation of Esmeraldas, its largest refinery, to private companies as it seeks to pull in billions of dollars in investments, Energy Minister Juan Carlos Bermeo said on Friday. The blocks up for grabs are currently controlled by... Continue Reading →
Petrobras says won’t meet all fuel distributor orders in Dec. due to high demand
(Reuters) - Brazilian state-run oil company Petroleo Brasileiro (PETR4.SA) said in a statement on Friday that it will not be able to supply all the orders from fuel distributors in December, due to high demand. The company, known as Petrobras, said there are dozens of local firms able to import fuel and meet additional December demand. It... Continue Reading →
Nat gas producers face billions in hedging losses for 2022 – Rystad Energy
(Reuters) - U.S. natural gas producers will face billions of dollars in hedging losses for 2022 as the global energy crunch boosts gas prices to multi-year highs, research by consultancy Rystad Energy showed on Friday. Expectations of strong LNG demand for months boosted U.S. futures to a 12-year high in early October, with prices nearly... Continue Reading →
