Post Tagged with: "Brazil"

Source: Reuters

Brazil boosts oil exports to Asia as global rivals make record cuts

Reuters


RIO DE JANEIRO/MEXICO CITY  – Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented …

July 20, 2020 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Brazil’s Petrobras says oil exports hit new record 1 million barrels a day in April

Reuters


BRASILIA – Brazilian state-owned oil giant Petrobras said on Monday it exported a record 1 million barrels of oil a day in April, beating the previous record of 771,000 barrels a day in December last year.

In a securities …

Petrobras to lease LNG operations in Bahia

Petrobras to lease LNG operations in Bahia

LNG World News


Brazil’s state-controlled oil and gas company Petrobras has started a process to lease its Bahia regasification LNG terminal and its integrated pipeline in northeast Brazil.

Petrobras to lease LNG operations in Bahia - oilandgas360

Petrobras said on Monday that the start of the terminal lease process …

December 10, 2019 - 12:41 pm Closing Bell Story‎, International, LNG, Natural Gas News
Source: Reuters

Equinor to drill 30-40 exploration wells and target Brazil in 2020

Reuters


OSLO – Norway’s Equinor plans to drill 30-40 oil and gas exploration wells globally in 2020, similar this year, with Brazil being a “hotspot” of its international efforts, the company’s exploration head said on Tuesday.

The company will drill …

Source: Reuters

Big Oil seeks refuge in Brazil from Latam regional turmoil

Source: Reuters


RIO DE JANEIRO/MEXICO CITY (Reuters) – When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks …

BP, Shell among bidders in $800 million Brazilian oil auction

BP, Shell among bidders in $800 million Brazilian oil auction

Source: Reuters


BP Plc, Chevron Corp and Royal Dutch Shell Plc are among the companies that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming …

October 10, 2019 - 10:45 am Closing Bell Story‎, Energy News, International
Repsol Sinopec Brazil, Ouro Negro and PUC-Rio Expand Technological Partnership

Repsol Sinopec Brazil, Ouro Negro and PUC-Rio Expand Technological Partnership

From World Oil


Repsol Sinopec Brazil, Ouro Negro and the Mechanical Engineering Department of PUC-Rio’s Technical and Scientific Center (CTC/PUC-Rio) are expanding their technological partnership, developing a through tubing logging profiling tool to assess cement quality in lined wells.

“The …

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

From Reuters


Brazil’s Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part …

Icahn Enterprises Completes Sale of Brazilian Resource Company

Icahn Enterprises Completes Sale of Brazilian Resource Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million
Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on

Petrobras Offering of Fuel Unit Prices at 24.50 Reais Per Share: Sources

Petrobras Offering of Fuel Unit Prices at 24.50 Reais Per Share: Sources

From Reuters


Brazilian state-run oil company Petroleo Brasileiro SA has relinquished control of the country’s biggest fuel distributor in a share offering, pushing ahead with a privatization drive under new Chief Executive Roberto Castello Branco.

The offering of Petrobras Distribuidora …

Brazil Stimulus Package to Include 42 Billion Reais from Workers Fund

Brazil Stimulus Package to Include 42 Billion Reais from Workers Fund

From Reuters


Brazil’s government will free up a total of 42 billion reais ($11.1 billion) from a workers’ guarantee fund over the next two years, Economy Minister Paulo Guedes said on Tuesday, in an effort to boost flagging economic growth.…

Source: Vantage Drilling

Petrobras to Privatize Brazil’s Top Gas Seller in $2 Billion Share Sale

From Reuters


Brazilian state-run oil company Petroleo Brasileiro SA is set to relinquish control of the country’s biggest fuel distributor in a share offering due to be priced late on Tuesday, pushing ahead with a privatization drive under new Chief …

GeoPark Q2 2019 Operational Update

GeoPark Q2 2019 Operational Update

GeoPark Announces Second Quarter 2019 Operational Update

Source: SBM Offshore

Petrobras Gets New Offshore Partner

FPSO Mero 2 expected to produce 180,000 BOPD
SBM Offshore N.V., a holding company headquartered in Amsterdam, signed a letter of intent this week with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease to operate its floating production storage and

Brazil Expects Petrobras Reserves Payout Above $18 Billion

Brazil Expects Petrobras Reserves Payout Above $18 Billion

From Bloomberg

Petrobras is expected to receive more than $18 billion from a mixture of government and private sources as payment for oil reserves, people familiar with the matter said, potentially resolving a dispute that has dragged on since 2013.…

March 20, 2019 - 12:45 pm Closing Bell Story‎, Energy News
Source: Virginia Mercury

EIG Plans to Bid for Brazil Pipeline Network as Petrobras Sets Deadline

From Bloomberg

EIG Global Energy Partners plans to bid for Petrobras’s TAG natural gas pipeline network as the Brazilian oil giant is giving bidders just another three weeks to raise their offers.

The state-run company released details on the leading …

March 13, 2019 - 4:42 pm Closing Bell Story‎, Energy News
Why Billions of Barrels of Oil Go Untapped in Brazil

Why Billions of Barrels of Oil Go Untapped in Brazil

From Bloomberg

There’s enough as-yet-unassigned oil under the Atlantic Ocean off Brazil’s Rio de Janeiro to keep the entire world running for almost six months. So why is the crude just sitting there? A contract dispute between oil giant Petrobras …

Source: Petrobras

Next OPEC Headache Is Brazil’s Burgeoning Crude Production

From Bloomberg

When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market.

The mammoth facility

February 20, 2019 - 5:04 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Brazil’s Deepwater Lula North is Now Producing

Brazil’s Deepwater Lula North is Now Producing

Shell And Partners Start Deep-Water Production At Lula North In Brazil

February 1, 2019 - 11:44 am Closing Bell Story‎, Offshore, Press Releases
Source: Petrobras

Petrobras Shares Rise on Report Brazil Government to Pay Oil Firm $14 Billion

From Reuters

Common shares in state-controlled oil company Petroleo Brasileiro SA rose almost 4 percent on Monday after a newspaper said the government had settled on the amount it will pay the firm to settle a dispute over an oil-producing …

January 7, 2019 - 4:20 pm Closing Bell Story‎, Energy News
Source: Petrobras

Petrobras Cutting Houston Jobs after Forming Gulf Joint Venture

From Houston Chronicle

Brazilian state oil company Petrobras will terminate more than 50 Houston jobs next year after selling much of its Gulf of Mexico assets into a new joint venture.

Petrobras, which has struggled financially amid a nationwide corruption …

December 12, 2018 - 1:08 pm Closing Bell Story‎, Energy News, International
Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

From Houston Chronicle

 

The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services.

A new report …

November 30, 2018 - 1:30 pm Closing Bell Story‎, Energy News
Source: Petrobras

Petrobras Sells Rights in 37 Oilfields for $823 Million

Sale of stake in 34 onshore fields in Rio Grande do Norte
Rio de Janeiro based Petrobras’ board of directors approved yesterday the full sale of its stake in 34 onshore production fields, located in the Potiguar Basin, in Rio

November 29, 2018 - 12:18 pm Closing Bell Story‎, International
GeoPark Production Moves to 35 MBOEPD

GeoPark Production Moves to 35 MBOEPD

Latin American E&P operator GeoPark Limited (ticker: GPRK) released a production update today, noting that current production is currently at 35 MBOEPD. This figure includes production from the recent Argentina acquisition.

  • Oil production increased by 33% to 27,345 BOPD (up
Brazil’s 15th Offshore Bidding Round Sets a Record

Brazil’s 15th Offshore Bidding Round Sets a Record

Brazil’s 15th Bidding Round raised over USD$2.4 billion – this sets a new record for Brazil’s auctions. According to the Brazilian National Petroleum Agency, the 15th round will generate investments of USD$361.6 million in the first/exploration phase of the concession …

Oil Hedges: Brazil and Mexico

Oil Hedges: Brazil and Mexico

Brazil’s state-controlled oil company, Petrobras, has hedged a portion of its 2018 oil production. The move should protect cash flow against downturns in the marketplace. Bloomberg reported that the company hedged 128 MMBbls, or 350,685 BOPD at an average Brent …

$2.8 Billion: Statoil Acquires 25% Stake in Roncador, Brazil

$2.8 Billion: Statoil Acquires 25% Stake in Roncador, Brazil

Statoil ASA (ticker: STO) and Petroleo Brasileiro S.A. – Petrobras (ticker: PBR) have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil.

The transaction nearly triples Statoil’s production in …

Brazil Faces Offshore Oil Dilemma

Brazil Faces Offshore Oil Dilemma

From The Wall Street Journal

In a few months, Brazil’s federal government will start receiving crude oil from a huge field, known as Libra, off the coast of Rio de Janeiro. But the government has no tanker ships to unload …

November 13, 2017 - 4:23 pm Closing Bell Story‎, Crude Oil News
Petrobras to Speed Up Divestitures, Cut Investments 25%

Petrobras to Speed Up Divestitures, Cut Investments 25%

Petrobras plans to reduce its $124 billion debt, dropping its debt-to-EBITDA to 2.5 by 2018

Brazil’s state-owned Petroleo Brasileiro (ticker: PBR) released both its strategic, and business and management plans for 2017 to 2021 as the company looks to rebuild …

Third CEO for Petrobras in 16 Months

Third CEO for Petrobras in 16 Months

The president of Brazil named Pedro Parente chief executive officer of state-led oil company Petroleo Brasileiro SA. It was a move by interim Brazilian President Michel Temer to revamp economic policy and shore up the debt-laden oil producer.

Parente is …