Is Brazil’s Oil Boom In Danger?
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
Brazil Is Emerging As The World’s Leading Offshore Oil Producer
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
Brazil’s Oil Giant Petrobras Raises Production Forecast
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
Low Oil Prices Haven’t Derailed Brazil’s Offshore Boom
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
Exclusive: Brazil Amazon fires likely worst in 10 years, August data incomplete, government researcher says
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 Oil Giant To Boost Production At Deepwater Field
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 Oil Giant Has A Creative Solution For Its Gas Flaring Problem
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
Brazil’s Oil Major Petrobras To Tap Global Bond Market
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
Bolsonaro brought in his generals to fight coronavirus. Brazil is losing the battle
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
Exclusive: Coronavirus spreads in Brazil’s oilfields, as six offshore operators register cases
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
Covid-19 Crisis Could Crush Brazil’s Oil Boom
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 coronavirus outbreak worsens as country could soon be No. 2 in cases
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
Coronavirus seizes São Paulo as Trump ponders Brazil travel ban
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
Brazil, Once a Leader, Struggles to Contain Virus Amid Political Turmoil
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 Expects Permanent Damage To Oil Demand As It Writes Off Billion
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
Is Brazil the next big hot spot as other nations ease up?
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
Brazil Cuts Oil Production On 62 Offshore Platforms
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
$20 Oil Could Crush Brazil’s Offshore Oil Boom
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 coronavirus cases than official count, study shows
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 Slashes Oil Output Ahead Of Global Production Meeting
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
This Emerging Producer Could Be Crucial To The Largest Oil Deal In History
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
As Sao Paulo goes into coronavirus lockdown, China offers to help Brazil
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
Solar energy expands quickly in Brazil, attracts Chinese firms
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 Jumps 20% To New Record In January
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
Deforested parts of Amazon ’emitting more CO2 than they absorb’
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
U.S. backs program to help Venezuelan migrants settle in Brazil
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 Decides Against Joining OPEC
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
Brazil to discuss OPEC collaboration with Saudi Arabia in July: ministry
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 Breaks Oil Production Record
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 Breaks Key Oil Production Milestone
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 Ignores Climate Concerns, Carries Out Offshore Drilling Plans
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
Petrobras To Put More Key Oil Assets Up For Sale
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
Brazil Aims For $18 Billion From Its Sale Of Key Refinery Assets
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
Brazil subsalt production-sharing fields to pump 3.9 million b/d by 2031: management company
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
This Underdog Could Soon Become The World’s Largest Oil Producer
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
Brazil Adds To Supply Glut With Major Deepwater Field
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
The Real Reason Big Oil Bailed On Brazil
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
Big oil stuns Brazil in back-to-back auction flops
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
The Oil Nation Aiming To Double Its Production
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
Brazil’s Overhyped Oil Auction Ends In Failure
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
Has Brazil Found The Culprit Of Its Catastrophic Oil Spill?
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
Mysterious Oil Spill Could Cost Brazil Billions
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
Brazil’s $50 Billion Oil Boom Is Falling Apart
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
Is The Brazilian Oil Boom Overhyped?
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 oil majors eye Brazil’s deepwater, smaller firms seize opportunity
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
Why Brazil Joining OPEC Would Be A Massive Mistake
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
Brazilian Oil Giant Braces For Strikes Ahead Of $50 Billion Auction
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
Exclusive: Petrobras, Brazil’s government near oil marketing deal – official
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
Oil Majors Scoop Up Very-Hot Blocks In Record Brazil Auction
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 Huge $25 Billion Oil Auction Clears Very Important Hurdle
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