Brazil’s state-controlled oil company, Petroleo Brasileiro SA ( PETR4.SA ), said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking Continue Reading
Norwegian energy major Statoil said Monday it would spend at least $2 billion to triple its production capacity from offshore Brazil. The Norwegian company, owned in part by the government, Continue Reading
Data through August for Brazil show oil production was already 3 percent above the full-year average from 2016, a country profile revealed. In a country profile, the U.S. Energy Information Continue Reading
U.S. Energy Information Administration, International Energy Statistics Brazil has produced 3.3 million barrels per day (b/d) of petroleum and other liquids so far in 2017, according to data through August, Continue Reading
The state-run oil company PEMEX blamed the failure of a recent deep-water Gulf of Mexico auction in the on competition from ongoing tenders in Brazil, according to a new report Continue Reading
French supermajor Total said production started at a field off the coast of Brazil using infrastructure that could produce 150,000 barrels of oil per day. From the pre-salt Santos basin Continue Reading
In a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in Continue Reading
Oil major Royal Dutch Shell Plc won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP took two blocks and Exxon Mobil Corp took one Continue Reading
Oil major Royal Dutch Shell Plc RDSA.L won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP ( BP.L ) took two blocks and Exxon Continue Reading
Brazilian President Michel Temer said Friday’s auction of pre-salt offshore oil blocks will generate investments of more than 100 billion reais ($30.8 billion) in Brazil by the winning oil companies. Continue Reading
