Brazil showed signs of returning to normal on Thursday as an oil workers union ended a strike ahead of schedule and an 11-day trucker protest wound down, a welcome breather Continue Reading
Brazil received no bids in the first tender for a total 1.63 million barrels of crude extracted from the prolific pre-salt zone, Reuters reports . The state received the oil Continue Reading
Brazil’s president cuts diesel prices in an effort to bring striking lorry drivers off the picket line. File Photo by Stephen Shaver/UPI May 29 (UPI) — The price of diesel Continue Reading
SAO PAULO (Reuters) – Brazilian oil workers planned a 72-hour strike starting on Wednesday, despite a court order, in a new blow to President Michel Temer and an economy reeling Continue Reading
French oil major Total said on Wednesday that its plans to drill in the ecologically sensitive Foz do Amazonas basin were still alive, despite Brazil’s decision to reject its drilling Continue Reading
Just as the Brazilian government made some progress towards settling matters with truckers that have paralyzed the country with protests against high fuel prices, another strike is looming on the Continue Reading
Brazil’s government said Monday that concessions to end a crippling truckers strike will have a high cost for taxpayers even as the country’s businesses and consumers struggle with shortages of Continue Reading
A trucker protest paralyzing swathes of the Brazilian economy stretched into a fourth day on Thursday as legislative efforts to cut diesel taxes stalled, raising the prospect of highway and Continue Reading
Oil prices have gone up 15 times in May alone. On Monday, truck drivers blocked dozens of roads across 19 Brazilian states. They were protesting the latest rise in diesel Continue Reading
After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. Continue Reading
British energy company BP said it wanted to expand its level of cooperation with an oil company in Brazil, one of the largest producers outside of OPEC. BP signed a Continue Reading
The oil basins off the coast of Brazil are among the best prospects in the world, German energy company Wintershall said after the latest auction. The Brazilian government offered nearly Continue Reading
Royal Dutch Shell’s Brazilian subsidiary secured four deep-water exploration blocks off the country’s coast, the company announced. Shell Brasil Petroleo said Thursday it will operate in two of the four Continue Reading
In February and March, Brazil’s state-controlled oil firm Petrobras hedged 128 million barrels of its expected 2018 production —equal to around 15 percent of total production—at an average price of Continue Reading
Exxon Mobil Corp roared into Brazil’s prolific offshore oil fields again on Thursday, clinching eight blocks in partnership with other oil firms eager to lap up the country’s choice reserves Continue Reading
Parker Drilling’s Kelly Thorman discusses bribery and corruption in oil and gas and how companies can equip themselves with compliance measures. At the mention of corruption in oil and gas, Continue Reading
Brazil had a fairly uneventful 2017 for C&C production. Overall production was up 4.5% at 957 mmbbls (114 kbpd average), but the December exit rate was down 4.5%, or 124 Continue Reading
It has been an appalling few years for Brazil’s energy patch. Weaker oil prices, sweeping corruption scandals and the worst economic downturn ever have sharply impacted the nation’s oil industry Continue Reading
French energy company Total said it’s now a premier player in the oil basins off the coast of Brazil after finalizing a partnership with a state energy company. Total and Continue Reading
A consortium of Japanese energy companies said Tuesday they agreed to invest in a long-term agreement involving floating production options for offshore Brazil. Japanese energy company Marubeni said it teamed Continue Reading
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
Brazil and Mexico are competing for a diminishing resource: the investment dollars of oil majors. HOUSTON/RIO DE JANEIRO, Oct 26 (Reuters) – Brazil and Mexico are competing for a diminishing Continue Reading
Brazil will auction eight blocks in its coveted deepwater oil region on Friday, a prospect that has lured top executives from the world’s biggest oil companies to Rio de Janeiro Continue Reading
Shell is confident that it can produce oil from Brazil’s promising prolific pre-salt layer for less than $40 per barrel, that’s why the supermajor is taking part in this week’s Continue Reading
Vastly expanding sugarcane production in Brazil for conversion to ethanol could reduce current global CO 2 emissions by as much as 5.6%, according to a new study by an international Continue Reading
Colombia production is holding a plateau over the past year after a large decline in the last part of 2015 and first half of 2016. August value was 858 kbpd Continue Reading
Brazil plans to boost oil exploration and production to seize on its reserves before the world enters the “renewable era” and other technologies hurt demand for the fossil fuel, Deputy Continue Reading
Say what you will about offshore oil and gas exploration, but it’s still alive and kicking—high production costs and all. The latest demonstration of the viability of deepwater projects, even Continue Reading
Exxon Mobil Corp’s big bet on Brazil’s offshore Campos basin shows its willingness to pay up to replenish its reserves and may pave the way for hefty bids in October Continue Reading
Brazil will on Wednesday begin reversing what industry officials say was a costly and ultimately disastrous decision a decade ago: setting aside billions of barrels from the Western Hemisphere’s largest Continue Reading
Petrobras creditors have agreed to swap $6.22 billion in Petroleo Brasiliero bonds that are due between 2019 and 2021 for long-term securities, allowing Brazil’s state-owned oil company to lower its Continue Reading
Brazil’s oil auction this week will test whether a raft of market-friendly reforms under President Michel Temer can tempt investors back to a sector tarnished by a corruption scandal at Continue Reading
Brazil’s Braskem has terminated a contract to buy light virgin naphtha and natural gasoline from Venezuela’s state-run oil company PDVSA that would expire this month, the petrochemical company said on Continue Reading
As many as 17 companies have registered to bid next month in two rounds of exploration license awards in Brazil’s pre-salt layer, Brazilian Oil and Gas Secretary Marcio Felix said Continue Reading
Fifteen companies have pre-registered for Brazil’s third auction of oil exploration rights in the pre-salt area while ten companies have expressed interest in the second round, oil regulator ANP said Continue Reading
Brazil state-controlled oil firm Petrobras extended the deadline for interested parties to sign non-disclosure agreements in order to access technical, legal and financial information related to seven exploration areas it Continue Reading
Imagine the setting. A conference room full of senior politicians. “The tapes are bad”, one says. “A lot of stuff about bribes”. Another adds, “Yeah, and we’re polling in the Continue Reading
Total’s study on the environmental impact of drilling in one of the Amazon’s basins hit a roadblock on Tuesday when Brazilian regulator Ibama said it rejects the validity of the Continue Reading
The economy of Brazil has been struggling lately. Weighed down by the collapse in oil prices, and a massive corruption scandal — which this week saw the former CEO of Continue Reading
Last year, Brazilian construction firm Odebrecht and affiliated petrochemical company Braskem pleaded guilty to bribing officials in 12 countries to secure high-paying contracts. The firm agreed to a payment of Continue Reading
Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being weighed Continue Reading
