(Bloomberg, 11.May.2022) — Brazilian President Jair Bolsonaro replaced his Energy Minister just days after state-run Petroleo Brasileiro SA ignored his plea to not raise fuel prices, which has become a major political issue ahead of his re-election bid in October. Bento Albuquerque, who served in the role for more than […]
Category: Brazil
Brazil energy
Brazil’s New Energy Minister Wants Studies on Petrobras Privatization
(Reuters, 11.May.2022) — Brazil’s newly appointed mines and energy minister, Adolfo Sachsida, said on Wednesday he will request studies on Petrobras‘ privatization as his first act in office. “I request the beginning of the studies pending the proposal of the legislative changes necessary for the Petrobras’ privatization,” Sachsida said in […]
Petrobras to Build New Diesel Hydrotreating Unit
(Reuters, 11.May.2022) — Brazilian state-run oil company Petrobras said on Wednesday it has signed a deal with TSE and Toyo Engineering Corp to build a new diesel hydrotreating unit at its Paulinia refinery. The move will require $458 million in investments and is in line with Petrobras’ 2022-2026 business plan, […]
Maersk Drilling Secures Extension for Mærsk Developer in Brazil
(Maersk Drilling, 10.May.2022) — Karoon Energy Ltd has exercised options to add the drilling of up to two wells at the Neon field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The contract extension has a duration of 80 days, in direct continuation of the rig’s previous […]
Petrobras Concludes Divestment of Potiguar Basin E&P Asset
(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 27 December 2021, finalized the sale, together with Sonangol Hidrocarbonetos Brasil Ltda., of all the stakes held by both companies in the onshore exploratory block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the state […]
Petrobras Concludes Divestment of Onshore Fields in Bahia
(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 17 December 2020, informs that today it concluded the sale of its entire stake in fourteen onshore exploration and production fields, called RecĂ´ncavo Cluster, located in the state of Bahia, to 3R Candeias S.A., previously named Ouro Preto Energia […]
Petrobras Starts Binding Phase for Sergipe-Alagoas Basin E&P Assets
(Petrobras, 10.May.2022) — PetrĂłleo Brasileiro S.A. (Petrobras), following up on the release disclosed on 04/11/2022, informs that today it started the binding phase regarding the sale of its total participation in the Tartaruga field, located in shallow waters of the Sergipe-Alagoas Basin, state of Sergipe. Potential buyers qualified for this […]
Petrobras to Pay Complementary Dividends
(Petrobras, 10.May.2022) — Petrobras informs that will pay, on Monday, 05/16/2022, complementary dividends referred to the 2021 fiscal year, based on shareholding position as of 04/13/2022, in connection to the Material Fact released on that date. The amount of dividends to be paid will be adjusted by Selic interest rate […]
Petrobras Raises Diesel Prices Despite Bolsonaro Complaints
(Bloomberg, 9.May.2022) — Brazil’s state-controlled oil giant Petroleo Brasileiro SA raised domestic diesel prices just days after President Jair Bolsonaro bashed the company for too-high profits. After holding prices stable since March, Petrobras announced an 8.9% increase in diesel prices for distributors to 4.91 reais a liter ($0.96), it said […]
Guyana and Brazil Agree on Actionable Framework – President Ali
(DPI, 7.May.2022) — His Excellency Dr Irfaan Ali announced that Guyana and Brazil have agreed on an “actionable framework” in the areas of food security, energy, infrastructure and national security. This announcement was made following a meeting between Brazil’s President, His Excellency Jair Bolsonaro, members of his cabinet and the Guyana […]
Guyana, Brazil Sign Treaties on Civil, Criminal Matters
(DPI, 7.May.2022) — Guyana and Brazil have mutually agreed to provide legal assistance in civil and criminal matters, through the signing of two bilateral agreements, at the Arthur Chung Conference Centre (ACCC) on Friday. The signing of the treaties, which were done by Minister of Foreign Affairs and International Cooperation, […]
NRGBriefs: Petrobras EBITDA; LatAm Disintegration; Suriname’s Blk 58
(Energy Analytics Institute, 6.May.2022) — Energy briefs including Brazil’s state oil giant PetrĂłleo Brasileiro S.A. (Petrobras) reporting earnings before interest, taxes, depreciation and amortization of $15.1bn in 1Q:22; energy and other disintegration in the Latin America and Caribbean (LAC) region; APA Corporation and TotalEnergies said getting closer to achieving their […]
Petrobras Comments on Shareholders Remuneration
(Petrobras, 5.May.2022) — PetrĂłleo Brasileiro S.A. (Petrobras) informs that its Board of Directors, at a meeting held today, approved the payment of a dividend in the amount of R$ 3.715490 per outstanding preferred and common share. The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that […]
Brazil’s President Calls Petrobras Profits a ‘Rape’
(Reuters, 5.May.2022) — Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise fuel prices again, and compared the company’s profits to a “rape” of the country. The far-right leader said a new fuel price hike by Petroleo Brasileiro SA, as the company is formally known, […]
Petrobras to Invest $5.5bn in Extracting Activity in the Next Five Years
(Petrobras, 4.May.2022) — A Petrobras executive highlighted new discoveries in oil and gas during Bratecc meeting, a parallel event to the Offshore Technology Conference (OTC), in Houston (USA). The recent pre-salt oil discoveries, in the Central Alto de Cabo Frio and Aram areas, open up a scenario of new extraction […]
Petrobras Concludes Divestment of Bahia Terra Cluster
(Petrobras, 4.May.2022) — Petrobras, regarding the news published in the media, informs that it has concluded the new round of the sale process binding phase of the onshore production fields located in the RecĂ´ncavo and Tucano Basin, in the state of Bahia, jointly called Bahia Terra Cluster. The consortium formed […]
NRGBriefs: FMC LatAm Sales; Rig Mobilized in Suriname
(Energy Analytics Institute, 2.May.2022) — Energy briefs including FMC Corp.’s LatAm sales rising 31% YOY in 1Q:22 “driven by robust volume growth in soybean, corn and sugarcane as well as price rises and a 6% currency tailwind”; Enel AmĂ©ricas (NYSE: ENIA) filing its 2021 annual report on Form 20-F w/ the […]
Petrobras Starts Production from FPSO Guanabara in the Mero Field
(Petrobras, 2.May.2022) — Petrobras informs that, on 30 April 2022, it started producing oil and natural gas through FPSO Guanabara, the first definitive production system installed in the Mero field, in the Santos Basin pre-salt. The platform, an FPSO (floating unit for the production, storage, and transfer of oil and […]
Libra Consortium Starts Production at Mero Field’s FPSO Guanabara
(Shell Brasil, 2.May.2022) — Shell Brasil PetrĂłleo Ltda., a subsidiary of Shell plc, announces the start of production of the FPSO Guanabara in the Mero field, offshore Santos Basin in Brazil. The FPSO Guanabara, which while under construction was also known as Mero-1, has an installed capacity of 12 million cubic […]
Brazil Chemical Maker Unigel Interested in Petrobras’ Fertilizer Project
(Reuters, 29.Apr.2022) — Brazilian chemical maker Unigel is interested in purchasing a fertilizer project from Brazilian state-run oil company Petrobras in the state of Mato Grosso do Sul, its chief executive told Reuters on Friday. The operation of the unit, whose capacity as designed by Petrobras was 3,600 tonnes per […]
Petrobras Increases Natural Gas Prices to Distributors by 19%
(Reuters, 29.Apr.2022) — Brazil’s state-run oil company Petrobras said on Friday it will increase natural prices for distributors in the country by an average 19% starting May 1. According to Petrobras, the adjustment follows the updating of formulas agreed with distributors, based on the variation of gas prices, Brent oil […]
Petrobras on the Sale of its Stake in Deten
(Petrobras, 28.Apr.2022) — Petrobras, following up on the release disclosed on 04/27/2021, informs that today it signed a contract with Cepsa QuĂmica S.A. for the sale of its entire stake (27.88%) in Deten QuĂmica S.A (Deten), located in the industrial complex of Camaçari, in the state of Bahia. Cepsa QuĂmica […]
Petrobras on UFN III Sale Process
(Petrobras, 28.Apr.2022) — Petrobras, following up on the release disclosed on 02/21/2020 and 02/04/2022, informs that sale process of 100% of its Nitrogen Fertilizer Unit III (UFN-III), located in the city of TrĂŞs Lagoas, Mato Grosso do Sul, with the Russian group Acron hasn’t been concluded, considering that the business […]
Equinox Gold Reports Drill Results from the Bahia Belt in Brazil
(Equinox Gold, 28.Apr.2022) — Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) announced positive drill results from 2021 exploration drilling in the 70-km-long greenstone belt in Bahia State, Brazil that hosts the company’s 100%-owned Fazenda and Santa Luz gold mines (“Bahia Belt”). Exploration has identified multiple near-mine and regional discoveries that highlight growth […]
Petrobras Highlights Its 1Q:22 Production and Sales
(Petrobras, 27.Apr.2022) — In 1Q22, Petrobras kept a solid operating performance, with average oil, NGL and natural gas production reaching 2.80 MMboed, 3.4% above 4Q21. This result was achieved mainly due to the continuity of the ramp-ups of FPSOs Carioca (SĂ©pia field) and P-68 (BerbigĂŁo and Sururu fields), located in […]
Petrobras on Receiving SĂ©pia Compensation
(Petrobras, 27.Apr.2022) — Petrobras received, at sight, the amount of R$14.55bn from TotalEnergies EP Brasil Ltda., Petronas PetrĂłleo Brasil Ltda. and QP Brasil Ltda., related to the 70% stake of these companies in the SĂ©pia compensation, block acquired by the consortium composed by Petrobras (30%), TotalEnergies (28%), Petronas (21%) and […]
Petrobras on the Sale of the Albacora Leste Field
(Petrobras, 27.Apr.2022) — Petrobras, following up on the release disclosed on 11/05/2021, informs that its Board of Directors, in a meeting held today, approved the sale of all its interest in the Albacora Leste concession, located predominantly in deep waters in the Campos Basin, to the company Petro Rio Jaguar […]
Petrobras on Atapu and Sepia Contracts
(Petrobras, 27.Apr.2022) — Petrobras signed the Production Sharing Contract for the Surplus Volumes to the Transfer of Rights of Atapu in partnership with Shell Brasil PetrĂłleo Ltda (25%) and TotalEnergies EP Brasil Ltda. (22.5%), and a Production Sharing Contract for the Surplus Volumes to the Transfer of Rights of Sepia, […]
NRGBriefs: Chevron Dividend; Guyana Oil Demand; Argentina’s LNG Growth
(Energy Analytics Institute, 27.Apr.2022) — Energy briefs including Argentina’s Economic Minister MartĂn Guzmán saying that the country could generate around $15bn per year from exporting LNG starting in 2027; Sempra waiting on the US DOE the approve two LNG export projects in Mexico; the BODs of US-based Chevron Corp. (NYSE: […]
Shell Inks Production Sharing Contract for Atapu Field in Brazil
(Shell, 27.Apr.2022) — Shell Brasil PetrĂłleo Ltda., a subsidiary of Shell plc, signed the Production Sharing Contract (PSC) to formally acquire a 25 percent stake of the Atapu field. Shell paid $ 1.1bn to Petrobras for the increased stake in the field. With the contract now signed, Shell will start […]
Great Panther Reveals Updated Mineral Estimates for Tucano Gold Mine
(Great Panther, 26.Apr.2022) — Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL), a growth-oriented precious metals producer focused on the Americas, reports Mineral Resource and Mineral Reserve Estimates (the “2021 MRMR”) for the Tucano Gold Mine in Brazil. The estimates were prepared in accordance with National Instrument 43-101 – Standards of […]
Petrobras Receives R$4.7bn from Total Energies EP Brasil Ltda. for Atapu
(Petrobras, 26.Apr.2022) — Petrobras, following up on the release disclosed on 19 April 2022, informs that it received today, at sight, the updated payment of R$ 4.7bn from Total Energies EP Brasil Ltda. – TotalEnergies, referring to the 22.5% share in the Atapu compensation. The Atapu block was acquired by […]
Aker and Statkraft to explore green hydrogen and ammonia in India and Brazil
(Aker Horizons, 26.Apr.2022, Words: 617) — Aker Horizons, through its portfolio company Aker Clean Hydrogen, and Statkraft have signed collaboration agreements to jointly explore opportunities for green hydrogen and ammonia production in India and Brazil, targeting local steel and fertilizer industries. The collaboration brings together Aker Clean Hydrogen, a global integrated hydrogen, ammonia […]
Petrobras Concludes Sale of E&P Assets in the Paraná Basin
(Petrobras, 20.Apr.2022) — Petrobras, following up on the release disclosed on 12/20/2021 and 12/30/2021, informs that it has today concluded the sale to the company Ubuntu Engenharia e Serviços Ltda of its total stake in blocks PAR-T-198 and PAR-T-218, located in the Paraná Basin. After compliance with all the precedent […]
EPE Publishes April 2022 Brazil’s Short-Term Fuel Market Outlook
(EPE, 20.Apr.2022) — Brazilian liquid fuel market continued its strong performance at the beginning of 2022 with an increase of 1.1% in January and February compared to the same period last year. This growth has been driven mainly by diesel and gasoline. EPE estimates that Brazilian liquid fuel market will […]
Day 1 of AAPG ICE Highlights: ANP Substitute Director Marina Abelha
(Energy Analytics Institute, 19.Apr.2022) — Highlights from ANP Brazil Substitute Director Marina Abelha during her presentation in Cartagena, Colombia on day 1 of the AAPG International Conference & Exhibition (ICE) taking place between 19-22 April 2022. Comments from ANP Substitute Director Marina Abelha — A completely diverse sector will emerge […]
Petrobras Confirms Details Around Atapu Compensation
(Petrobras, 19.Apr.2022) — Petrobras, following up on the release disclosed on 13 April 2022, informs that, contractually, TotalEnergies EP Brasil Ltda. – TotalEnergies may make the updated payment for its 22.5% share in the compensation for Atapu until 28 April 2022. The Atapu block was acquired by the consortium composed […]
Petrobras to Release 1Q:22 Report, Host Results Call
(Petrobras, 19.Apr.2022) — Petrobras will release its 1Q22 Production and Sales Report on 27 April 2022 and its 1Q22 Financial Performance Report on 5 May 2022, both after the markets close. On 6 May 2022 two webcasts will be held, the first in Portuguese and the second in English, to […]
NRGBriefs: Mexico Approves Mining Reform; Argentine Inflation Around 6.7%
(Energy Analytics Institute, 18.Apr.2022) — Energy briefs including Mexico’s Chamber of Deputies approving the Mining Law reform, which reserves exploration, exploitation and use of lithium to the state; Argentina’s inflation reaching 6.7% in March 2022, according to economists; power outages impacting citizens in Valencia, Venezuela in Carabobo state; and more. […]
Petrobras Starts Binding Phase of E&P Assets in the Gulf of Mexico
(Petrobras, 18.Apr.2022) — Petrobras, following up on the release disclosed on 16 February 2022, informs it started the binding phase regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which […]
NRGBriefs: Trinidad’s Gas Production in Jan. 2022 Down 4% Y-O-Y
(Energy Analytics Institute, 14.Apr.2022) — Energy briefs including Trinidad and Tobago’s natural gas production reaching 2,877 MMcf/d (2.877 Bcf/d) in Jan. 2022, down 4% vs Jan. 2021; Great Panther Mining Limited reporting production results from its two wholly-owned operating mines, Tucano in Brazil and Topia in Mexico; and more. LATIN AMERICA AND THE CARIBBEAN […]
Petrobras Approves Election of José Mauro Ferreira Coelho as CEO
(Petrobras, 14.Apr.2022) — Petrobras, following up on the release disclosed on 12 April 2022, informs that its Board of Directors, in a meeting held today, elected JosĂ© Mauro Ferreira Coelho to the position of CEO of the company, for a one-year term. Below is an extract of the new executive’s […]
Ecopetrol, Shell Pick up Six Blocks in Brazil Bid Round
(Energy Analytics Institute, 13.Apr.2022) — Ecopetrol, through its Brazilian affiliate Ecopetrol Ă“leo e Gás do Brasil, in partnership with Shell Brasil PetrĂłleo Ltda, picked up six blocks in the offshore Santos Basin in the Third Cycle of Permanent Offers offered by Brazil’s hydrocarbon regulator National Petroleum, Natural Gas and Biofuel […]
Petrobras Approves Dividends Payment
(Petrobras, 13.Apr.2022) — Petrobras, following up on release disclosed on 23 February 2022, informs that, in a meeting held today, the Annual General Meeting (AGM) approved the remuneration to shareholders relative to the Fiscal Year 2021 in the amount of R$ 7.773202 per outstanding share (common or preferred). This amount […]
Noble Corp. and Maersk Drilling Update on the Merger Control Process
(Noble Corp. 12.Apr.2022) — Noble Corporation (NYSE: NE) and The Drilling Company of 1972 A/S (CSE: DRLCO) (“Maersk Drilling”, and together with Noble, the “Parties”) provided an update on the ongoing merger control process for the business combination announced on 10 November 2021 (the “Transaction”). At this point in time, […]
The World Bank: LAC Returns to Pre-Pandemic “Unsatisfactory Growth Rates”
(Energy Analytics Institute, 11.Apr.2022) — This week The World Bank published its 62-page semiannual report for Latin America and the Caribbean (April 2022) dubbed “Consolidating the Recovery: Seizing Green Growth Opportunities.” Guyana’s nascent petroleum sector is expected to help the country’s gross domestic product (GDP) expand by 47.9% in 2022, […]
Petrobras on Cumulative Vote Process for AGM
(Petrobras, 11.Apr.2022) — Petrobras, in compliance with article 30, item XXXIV, of CVM Instruction 480/09, informs that it received from shareholders who jointly hold more than 5% (five percent) of its common shares, the request to adopt the cumulative vote system in the election of members of Board of Directors […]
Petrobras Reveals New E&P Teaser in the Sergipe-Alagoas Basin
(Petrobras, 11.Apr.2022) — Petrobras, following up on the release disclosed on 7 August 2020, informs that the process of selling the totality of its interest in the Tartaruga Field, located in shallow waters of the Sergipe-Alagoas Basin, State of Sergipe, was not concluded. The process was in the binding phase. […]
NRGBriefs: TechnipFMC Updates on Mero 1 Project Activities
(Energy Analytics Institute, 8.Apr.2022) — Energy briefs including TechnipFMC saying its spoolbase at Açu Port, Rio de Janeiro has carried out its first rigid pipes spooling operation, as part of the Mero 1 project (FPSO Guanabara), located in the Mero field, Santos Basin offshore Brazil; Silver Viper Minerals Corp. (TSXV: VIPR) […]
Latin America Inflation Shocks Raise Prospect of More Rate Hikes
(Bloomberg, 8.Apr.2022) — Latin America’s central bankers are facing renewed pressure to extend aggressive interest-rate hikes after consumer prices stormed past estimates across the region, driven by soaring costs of raw materials. March’s inflation blew past even the most pessimistic forecasts in Brazil and Chile, according to official numbers released […]