The Brazilian government on Friday reported that its oil and gas production rose to record levels in September with a total oil equivalent of 3.36 million barrels per day (bpd). Continue Reading
The chances of success for any concerted effort to curb global oil supply are getting slimmer by the day, it seems. OPEC members are arguing among themselves who will need Continue Reading
Around the world, governments continue to loosen their hold on oil and gas reserves. Just look at a slew of developments this week. Such as Russia finalizing a privatization plan Continue Reading
International oil companies are reaching out to Brazil after it opened its most promising offshore region to increased competition, a move welcomed by Petrobras Chief Executive Officer Pedro Parente as Continue Reading
Brazil’s Congress votes to open up its pre-salt oil fields to foreign investors by scrapping Petrobras’ obligation to be the area’s sole operator. (Bloomberg) — Brazil’s Congress voted on Wednesday Continue Reading
Congress approves liberalization of huge pre-salt deposits State-run Petrobras no longer sole operator of offshore area Brazil’s Congress voted on Wednesday night to open up its pre-salt oil fields to Continue Reading
China Inc. is looking to win a gold medal in deal making with a $13 billion takeover of a Brazilian electric company. State Grid Corp. of China, the world’s largest Continue Reading
The Brazilian government gave permission to Petrobras to suspend production at sixteen oil platforms as the troubled state-owned firm attempts to reduce costs. As reported in The Rio Times on Continue Reading
China Utlilties Chinese state energy companies are huge by international standards. Their government wants them to ex-pand overseas and they seem indifferent to conventional standards of profitability. This makes them Continue Reading
Brazil’s state-run oil firm Petróleo Brasileiro SA said Monday that it is putting nine small, shallow-water oil fields up for sale, part of a previously announced divestment plan meant to Continue Reading
