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(Bloomberg) -- Oil extended losses after the worst week since October as a Covid-19 comeback raised concerns about the short-term demand outlook. Futures in New York fell below $67 a barrel after sliding almost 8% last week. The resurgence has led Goldman Sachs Group Inc. to downgrade its economic growth forecast for China, which recently completed a... Continue Reading →
The director of exploration and production at Petrobras, Fernando Borges, said that Petrobras is close to launching the process of contracting the HISEP module for the Júpiter field, in the Santos Basin . As a reminder, HISEP is a new technology developed and patented by the state-owned company for the separation and reinjection of CO2... Continue Reading →
(PetroNoticias) The Campos Basin will be the main focus of this year and the next within Petrobras' exploratory program. In all, the company plans to drill 20 new wells between 2021 and 2022 in Brazil, 11 of which will be inside Campos, in the so-called “pre-salt fringe”. The move could result in a boost in... Continue Reading →
(Reuters) Guyana received bids from 15 different companies aiming to market the government's share of the crude produced off the South American country's coast, according to Guyana's National Procurement and Tender Board Administration website on Wednesday. The government re-launched the search last month after a previous tender was discarded. Bids were due on Aug. 3,... Continue Reading →
(Reuters) - Mexico's government is investigating the world's largest independent energy trader Vitol over "irregularities" in the documenting of its refined oil products entering Mexico that could lead to criminal charges for tax evasion, the country's tax chief told Reuters. The probe of Vitol (VITOLV.UL) is part of a drive to investigate alleged import tax... Continue Reading →
(Reuters) - Brazil's Federal Audit Court (TCU) says there is a risk of fuel shortages in regional markets as a result of the sales of assets by state-controlled oil company Petroleo Brasileiro SA (PETR4.SA), according to a statement on the court's website. The TCU said it found a risk of shortages in an audit of the... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA) said on Thursday it has hired JPMorgan Chase & Co (JPM.N) as adviser to sell its stake in petrochemical company Braskem SA (BRKM5.SA), confirming an earlier Reuters report. Earlier on Thursday, Petrobras executives said in a conference call with investors that it had hired advisers to sell its stake in... Continue Reading →
(Reuters) - Brazil's central bank made clear on Wednesday it will do whatever it takes to tame inflation, a move that investors welcomed, but the prospect of significantly higher borrowing costs than envisaged only a few months ago may not calm local currency and rates markets for long. The central bank's tough stance on inflation,... Continue Reading →
Solstad Offshore has secured a contract with Petrobras for the deployment of its construction support vessel (CSV) Normand Flower on the Brazilian continental shelf. Under the contract, Solstad will support Petrobras’ exploration and production activities. The contract duration is three years firm with 475 days options thereafter, commencing in April 2022. Additionally, Solstad has signed a contract extension... Continue Reading →
(PetroNoticias) The exploratory success in neighboring Suriname and Guyana, nations that entered the world oil and gas map after relevant discoveries on their coast, is a strong indication that the Brazilian portion of the Equatorial Margin also has great potential to become a new oil and gas production hub in the country. The topic was... Continue Reading →
