Sharply weaker oil prices and the global COIVD-19 pandemic had little material impact on Brazil’s massive offshore oil boom. Even the fact that the oil rich Latin American country is Continue Reading
Crude oil output from fields operated by Brazil’s state energy major Petrobras hit a record last year despite the pandemic, at an average 2.3 million bpd, Bloomberg reported , comparing Continue Reading
The COVID-19 pandemic had a sharp impact on oil prices, creating considerable uncertainty over the outlook for energy demand around the globe. The ongoing global crude oil supply glut and Continue Reading
Brazil’s massive offshore oil boom, notably in the deepwater offshore pre-salt oilfields, is continuing to grow despite weaker oil prices and the sharp impact of the COVID-19 pandemic. Strong demand Continue Reading
Sharply weaker oil prices, the COVID-19 pandemic, and heightened geopolitical uncertainty have done little to blunt Brazil’s epic offshore oil boom. By September 2020 Brazil had soared to be the Continue Reading
Thanks to increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazil’s state oil firm said as it Continue Reading
Activity in Brazil’s energy patch keeps ratcheting ever higher. During January 2020, Latin America’s largest economy saw its all-important petroleum industry achieve a new milestone pumping on average a record Continue Reading
The official August data on the number of fires in Brazil’s Amazon needs to be corrected and will likely show an increase over last year, meaning that blazes surged to Continue Reading
Brazil’s state-held oil firm Petrobras launched on Friday a tender for three new Floating Production Storage and Offloading (FPSOs) units for one of the largest deepwater oilfields in the world, Continue Reading
Brazil’s state-owned oil firm Petrobras aims to make better use of the associated natural gas in its prolific oil-rich pre-salt area by having offshore liquefied natural gas (LNG) units to Continue Reading
Petrobras plans to issue one or more series of global bonds in the U.S. market, subject to market conditions, Brazil’s state-held oil firm said on Wednesday, without specifying amounts. Petrobras Continue Reading
In mid-March, Brazil took what seemed to be a forceful early strike against the coronavirus pandemic. The Health Ministry mandated that cruises be canceled. It advised local authorities to scrap Continue Reading
Norway’s Equinor ASA , Brazil’s Dommo Energia SA ( DMMO3.SA ) and Anglo-French firm Perenco are among at least six oil producers that have registered coronavirus cases among employees or Continue Reading
The coronavirus is spreading like wildfire in Brazil, and the country’s oil industry could get dragged down with it. “Brazil has the worst COVID growth rate of any G20 country: Continue Reading
Brazil’s coronavirus outbreak worsened on Wednesday and the South American nation could soon have the second-highest number of cases in the world as the Health Ministry reported 888 new deaths Continue Reading
Doctors and nurses work in the covid-19 intensive care unit at the Emilio Ribas Institute of Infectious Disease hospital in São Paulo. (Jonne Roriz/Bloomberg News) Hospitals nearing capacity. Deaths soaring. Continue Reading
Thronged banks. Packed subway cars. Buses full of President Jair Bolsonaro’s fervent supporters, heading to rallies that call on Brazilians to brush aside stay-at-home orders from mayors and governors and Continue Reading
Petrobras has warned its shareholders that the coronavirus pandemic could leave a permanent mark on the global economy, including on consumer behaviors, as it reported a first-quarter loss and massive Continue Reading
Brazil is emerging as potentially the next big hot spot for the coronavirus amid President Jair Bolsonaro’s insistence that it is just a “little flu” and that there is no Continue Reading
Petrobras has started shutting down production at 62 offshore platforms in the shallow waters off its coast, Reuters reported , adding that the cuts will amount to 23,000 bpd. Petrobras Continue Reading
Brazil has suspended its 17th licensing round which would have seen the state oil regulator ANP offering 128 offshore exploration blocks throughout the country, fearing that the plummeting oil prices Continue Reading
Brazil likely has 12 times more cases of new coronavirus than are being officially reported by the government, with too little testing and long waits to confirm the results, according Continue Reading
Petrobras has set its April oil production at 2.07 million barrels per day (bpd), after having reduced production by 200,000 bpd in the past two weeks in response to the Continue Reading
Brazil’s energy minister said on Monday that it would attend the G20 meeting of oil ministers that Saudi Arabia is trying to rally together to cut oil production, Reuters reported Continue Reading
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
