Category: Brazil

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