Brazil’s President Jair Bolsonaro patched up a diplomatic spat with China on Tuesday in a call with President Xi Jinping, with the two agreeing to fight the spread of coronavirus Continue Reading
Beside the green pastures and sugarcane plantations surrounding the farming town of Porto Feliz is the strange sight of hundreds of blue, silicon panes turned towards the sun. This solar Continue Reading
Brazil’s oil production jumped by 20.4 percent on the year to set a new production record of 3.168 million barrels per day (bpd) in January, thanks to the prolific pre-salt Continue Reading
The study results have implications for the fight against climate change. Up to one fifth of the Amazon rainforest is emitting more CO2 than it absorbs, new research suggests. Results Continue Reading
The U.S. Agency for International Development (USAID) and the U.N. International Organization for Migration (IOM) launched a program on Tuesday to help tens of thousands of Venezuelan migrants settle for Continue Reading
Brazil has decided to stay out of OPEC for the time being as it seeks to expand its oil production, Bloomberg has reported, citing energy minister Bento Albuquerque. “The idea Continue Reading
Highlights Energy minister to travel to G-20 event in Saudi Arabia Brazil to hold bilateral talks with Saudi Arabia on sidelines Current regulatory regime prohibits caps on oil, gas output Continue Reading
Brazil produced more than 1 billion barrels last year, the first time it has breached the 1-billion-barrel mark, Reuters reports , citing the country’s oil regulator, ANP. The daily average Continue Reading
Brazil’s crude oil production in November topped 3 million barrels per day for the first time ever, the National Petroleum Agency reported, adding that total oil and gas production rose Continue Reading
Brazil is carrying on with its plans to drill in the prolific pre-salt area even after UN leaders today urged countries to steadfastly curb emissions of “climate-altering” gases that stem Continue Reading
Brazil’s state-run oil company, Petroleo Brasileiro SA, hopes to boost its value by nearly 50 percent by 2021, in part by putting more offshore oilfields up for sale. The oil Continue Reading
Petrobras is launching the binding phase of the sale of four refineries out of eight that it has earmarked for divestment, the Brazilian state-held energy firm said in a statement. Continue Reading
Oil companies to install 28 new FPSOs in 2020-2032 Peak development activity expected in mid-2020s Investments total $135 billion for FPSOs, wells, subsea lines Output from oil fields in Brazil’s Continue Reading
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts. Brazil’s biggest-ever oil auctions Continue Reading
International oil majors and Brazil’s state oil firm Petrobras have just announced first oil from a deepwater field in Brazil’s pre-salt Santos basin, which will add 150,000 barrels of oil Continue Reading
This year’s final oil auction in Brazil ended in a flop on Thursday, with Big Oil staying away from bidding and only one of five blocks awarded, suggesting that the Continue Reading
Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up offshore blocks and forcing officials to reconsider a bidding system that gives a Continue Reading
Brazil may be able to produce in the future as much as 7 million barrels of oil per day (bpd), Mines and Energy Minister Bento Albuquerque said on Wednesday, without Continue Reading
What would have been Brazil’s biggest oil auction ever has ended in a near-total flop, as oil majors steered clear of the pricey oil areas up for grabs. Brazil was Continue Reading
The federal police in Brazil said on Friday they are investigating a Greece-flagged ship that may have been the origin of a mysterious oil spill that washed up on more Continue Reading
Just as Brazil is preparing to hold what could be a blockbuster US$50-billion oil auction in early November, an oil spill of still unknown origin on more than 200 beaches Continue Reading
Exxon may not be interested in stepping up to the bidding plate at Brazil’s massive $50 billion transfer of rights auction next week, because the oilfields up for grabs come Continue Reading
At least one large international oil player will refrain from taking part in the so-called transfer-of-rights oil auction Brazil has scheduled for next week. Repsol Sinopec, a joint venture between Continue Reading
As global oil firms make ever-bigger bets on Brazil’s massive deepwater fields in its ‘subsalt’ area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile Continue Reading
Brazil’s President Jair Bolsonaro floated the idea of joining OPEC during a visit to Saudi Arabia. Appearing at the so-called “Davos in the Desert,” Bolsonaro expressed interest in OPEC. “I Continue Reading
Brazil’s state-run oil company, Petrobras, is about to get hit with a general strike action from a group representing no fewer than 12 oil worker unions, according to the group’s Continue Reading
Brazil’s Petrobras could take over marketing of the government’s share of crude from offshore oilfields, a government official told Reuters, adding significantly to the state-run oil firm’s trading operations. Pre-Salt Continue Reading
ExxonMobil, Chevron, Shell, BP, and Total all won oil exploration blocks offshore Brazil in the first of three bidding rounds this year which fetched a record total amount of signing Continue Reading
Brazil’s massive transfer-of-rights oil auction to be held on November 7 has cleared one hurdle as the Brazilian Congress approved on Thursday one section of a larger bill that determines Continue Reading
Brazil’s Petrobras plans to increase the amount of oil it exports by more than a third in the coming years, the state-run company said in a statement on Friday In Continue Reading
Brazil’s Petrobras plans to invest a total US$105 billion in the five years to 2023 and divest assets worth US$35 billion, chief executive Roberto Castello Branco said this week as Continue Reading
Brazilian state-led oil and natural gas producer Petrobras set fresh daily and monthly records for output from ultra-deepwater fields in the country’s offshore subsalt frontier in April and May, capping Continue Reading
Brazil’s Petroleo Brasileiro SA drew plaudits from investors last month for announcing a plan to sell off eight of its refineries in a process the company says could fetch some Continue Reading
Recent hiccups for Brazilian oil supply call into question the growth projections for the country, with implications for the global oil market. Brazil’s oil production slipped by 65,000 bpd in Continue Reading
While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part Continue Reading
The U.S. Justice Department is investigating a former U.S.-based oil trader for Brazil’s Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Continue Reading
Brazilian state oil company Petrobras wants to exercise pre-emption rights for three areas ahead of the sixth bidding round of pre-salt offshore oil to be held later this year. The Continue Reading
Brazil’s Economy Ministry denied that the government would pay $14 billion to state-controlled oil company Petroleo Brasileiro SA to settle a dispute over an oil-producing zone off the Brazilian coast Continue Reading
France-based Total, the operator of Brazil’s pre-salt Lapa field, will increase its stake there to 45 percent, and separately create a joint venture with state oil company Petrobras to develop Continue Reading
The global effort to reduce reliance on gasoline and diesel may be fought on the streets of the world’s cities. In Buenos Aires , officials are making it easier to Continue Reading
Brazilian state oil company Petrobras said Wednesday it has sold onshore and shallow offshore fields in Brazil for $823 million, part of the company’s efforts to divest assets to focus Continue Reading
Brazil this week pulled out of hosting next year’s United Nations global summit on climate change, the latest signal that Latin America’s largest nation no longer aspires to be an Continue Reading
Brazil has more than doubled the number of risky ship-to-ship oil transfers this year, but its monitoring of such offshore maneuvers is lax, to a point where a July 2017 Continue Reading
Over the past few years, Brazil has held several very successful oil auctions under production-sharing contracts in its pre-salt layer, attracting major oil companies to its prized offshore oil area. Continue Reading
The government blamed illegal logging for the rise Deforestation of the Amazon rainforest in Brazil has hit its highest rate in a decade, according to official data. About 7,900 sq Continue Reading
The 14 subsalt areas that Brazil sold at the country’s five production-sharing auctions will yield about 2.1 million b/d and 24 million cu m/d in fresh output by 2028, according Continue Reading
In the past, Brazil’s massive state-owned oil company Petroleo Brasileiro SA (Petrobras) has operated at the whim of Brazilian politics, a volatile model to say the least. After years of Continue Reading
Brazil’s new far-right President elect Jair Bolsonaro, dubbed in some circles as the “Trump of the tropics”, has huge plans in store for Brazilian crude. His energy team is planning Continue Reading
Brazilian state-run oil firm Petrobras ( NYSE:PBR ) reported on Tuesday a net income for Q3 surging more than 20 times compared to the profit for the same quarter last Continue Reading
Brazil’s state energy giant Petrobras has decided not to go through with a drilling plan at a field operated by Chevron, effectively ruining the supermajor’s plans for the field, Reuters Continue Reading
