(Petrobras, 31.Oct.2019) — Petrobras in addition to the press release issued on October 23, 2019, reports that the signing of the Amendment to the Transfer of Rights Agreement was postponed for tomorrow, November 1, 2019. The new signing date was approved by the company’s Board of Directors, as it complies […]
Category: Brazil
Brazil energy
Bolsonaro Wants Brazil In OPEC
(Reuters, Stephen Kalin, Rania El Gamal, Alex Lawler, 30.Oct.2019) — Brazilian President Jair Bolsonaro said on Wednesday that he wants his country to join OPEC, a move that would add the most significant new producer to the oil cartel for years. The comments come ahead of a massive auction of […]
BP Eyes Brazil Gas Buildout
(Reuters, Gram Slattery, 29.Oct.2019) — BP Plc wants to be part of an effort to build up natural gas infrastructure in Brazil, an executive said on Tuesday, and believes a power plant it is building in Rio de Janeiro could eventually be supplied by gas from offshore oilfields here. Speaking […]
Petrobras Starts Non-binding Phase For Refineries
(Petrobras, 24.Oct.2019) — Petrobras, following up on the press release issued on September 13, 2019, reports the beginning of the non-binding phase related to the sale of downstream assets, which includes: Isaac Sabbá Refinery (REMAN) in Amazonas, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceará, and the Shale […]
Brazil Collects 900 Tonnes Of Spilled Oil
(Kallanish, 23.Oct.2019) — Brazil has collected some 900 tonnes of oil residue from its northeastern beaches since early September, the government said in a joint note Monday. According to the Brazilian Navy, environmental agency Ibama and oil regulator ANP, the mammoth clean up continues across the Brazilian northeast coast. Over […]
Petrobras Comments On TOR Agreement Amendment
(Petrobras, 23.Oct.2019) — Petrobras, in addition to the press release issued on May 21, 2019, reports that its Board of Directors has ratified the signature and approved adjustments to the draft Amendment to the Transfer of Rights Agreement. Such ratification occurs after the issuing of MME Ordinance No. 265 of […]
Petrobras, Brazil’s Gov’t Near Marketing Deal
(Reuters, Gram Slattery, Marta Nogueira, 22.Oct.2019) — Brazil’s Petrobras could take over marketing of the government’s share of crude from offshore oilfields, a government official told Reuters, adding significantly to the state-run oil firm’s trading operations. In an interview on Monday, the head of Pre-Salt Petroleum, better known by its […]
Priciest Oil Auction Could Raise $50bn in Brazil
(Bloomberg, Sabrina Valle, 21.Oct.2019) — An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates. Exxon Mobil Corp., Royal Dutch Shell Plc and other energy giants are set to […]
World’s Hottest Oil Auction Set To Bring In $50bn
(Oilprice.com, Julianne Geiger, 21.Oct.2019) — Brazil’s next oil auction, scheduled for November, may be the best one yet, raking in as much as $50 billion in auction proceeds, Bloomberg sources familiar with the Brazilian government estimates said on Monday. Licensing fees from Brazil’s November 7 oil auction was originally estimated […]
Ecopetrol Buys Into Gato do Mato Discovery
(Ecopetrol, 21.Oct.2019) — Ecopetrol S.A. reports that its subsidiary Ecopetrol Óleo e Gás do Brasil Ltda has entered into an agreement with Shell Brasil Petróleo Ltda. to acquire 30% of the interests, rights and obligations in two areas corresponding to the BM-S-54 Concession Agreement and the Sul de Gato do […]
Brazil Cleans Beaches Affected By Oil Spill
(BBC, 20.Oct.2019) — Thousands of people have taken part in a huge clean-up operation to remove oil and tar from beaches along Brazil’s north-eastern coast. Volunteers, as well as government workers, used wheelbarrows, spades and plastic gloves to remove the thick tar from the sand and water. The source of […]
Petrobras Informs About Provisioning
(Petrobras, 18.Oct.2019) — Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 3.2 billion as a result of: (i) litigation involving the company Sete Brasil, (ii) environmental process in the state of Paraná; and (iii) disputes on special participation and royalties involving the National Agency […]
Bolsonaro Says Oil Spill Could Be Sabotage
(Reuters, 18.Oct.2019) — Brazilian President Jair Bolsonaro questioned on Friday whether a far-reaching oil spill on the nation’s northeastern shore may have been a criminal act designed to harm a major oil auction scheduled for November. “Coincidence or not, we have the transfer-of-rights auction,” said Bolsonaro in a Facebook Live […]
OTC Brasil Holds Its 5th Conference Next Week
(OTC Brasil, 17.Oct.2019) — Organized by the Brazilian Petroleum, Gas and Biofuels Institute (IBP) and the Offshore Technology Conference (OTC), the 5th edition of OTC Brasil takes place 29–31 October at SulAmérica Convention Center. As one sign of improved activity in the Brazilian oil and gas sector, the event expects […]
How Brazil’s $26bn TOR Auction Works
(Reuters, Gram Slattery and Marta Nogueira, 16.Oct.2019) — Brazil’s Senate passed the main text of a bill defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR – the ‘transfer-of-rights’ area. The bidders who win exploration […]
Brazil’s Senate Committee Paves Way For Offshore Oil Rights Sale
(Reuters, 15.Oct.2019) — A Brazilian Senate committee cleared the way for what may be a record-setting offshore oil rights auction on Tuesday, approving a government deal with state-run oil company Petroleo Brasileiro SA to settle a years-old dispute. The full Senate is also expected to vote later on Tuesday on […]
Petrobras Signs Charter Deals For Marlim
(Petrobras, 15.Oct.2019) — Petrobras signed letters of intent (LoI) with the Japanese company Modec (Marlim Unit 1) and the Malaysian company Yinson (Marlim Unit 2), for the chartering of two FPSO platforms. The units will be used in the production development project of the Marlim and Voador fields revitalization – […]
Petrobras Inks Deal To Sale Lagoa Parda Cluster
(Petrobras, 11.Oct.2019) — Petrobras signed with Imetame Energia Lagoa Parda Ltda, wholly owned subsidiary of Imetame Energia Ltda, a contract for the sale of its entire working interest in the onshore fields of the Lagoa Parda Cluster, located in Espírito Santo state, near the city of Linhares. The sale price […]
ANP Sets Dates For TOR And 6th Production Round
(ANP, 11.Oct.2019) — Brazil’s Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP) announced the dates for the next two bid rounds. The ANP’s bid round calendar includes two more auctions for 2019: the Transfer of Rights Surplus Bidding Round (November 6) and the 6th Production Sharing Round, with […]
Qatar Petroleum Wins Three Blocks Offshore Brazil
(QP, 10.Oct.2019) — Qatar Petroleum has won exploration rights in three offshore blocks in Brazil, as part of two bidding consortia. The winning bids were announced by Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP) at a public bidding session held in Rio de Janeiro. Competing bids were […]
Petrobras Grabs One Block In 16th ANP Bidding Round
(Petrobras, 10.Oct.2019) — Petrobras acquired one offshore block in the 16th ANP Bidding Round under the Concession Regime, held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Petrobras is advancing its partnership strategy and will be the operator. The total amount of the signature bonus to be […]
Chevron Grabs 5 Blocks In ANP’s 16th Bid Round
(Chevron, 10.Oct.2019) — Chevron Brasil welcomes the results of Brazil’s 16th Bid Round. We are pleased to be part of the following five successful consortia, including two as the operator: — Block S-M-766: Chevron holds an operating 40% interest in this block located in the Santos Basin, along with partners […]
ANP 16th Round Attracts Record R$8.9bn Signings
(ANP, 10.Oct.2019) — The 16th Bidding Round collected R$ 8.9 billions in signature bonuses, a record value among the concession rounds already held in Brazil. The round will generate investments of at least R$ 1.58 billion in the first phase of the concession contracts alone (exploration phase). Twelve of the […]
Venezuelan Oil Likely Spilled In Brazil: Report
(The Wall Street Journal, Luciana Magalhaes and Jeffrey T. Lewis, 9.Oct.2019) — Long stretches of Brazil’s northeastern coast have been stained by oil slicks since early September, and at least some of the crude probably came from Venezuelan fields, a report by Brazilian oil company Petróleo Brasileiro SA said, according […]
SBM Closes Brazil Legacy Case
(SBM, 9.Oct.2019) — SBM Offshore received notification that the Federal Court has formally closed the Improbity Lawsuit filed by the Brazilian Federal Prosecutors Office (Ministério Público Federal, MPF) in 2017. This approval makes the Leniency Agreement between the MPF and SBM Offshore effective, which comprises a final settlement of BRL200 […]
Petrobras And Equinor Ink NatGas Value Chain MOU
(Petrobras, 9.Oct.2019) — Petrobras, following up to the Strategic Partnership signed on 12/18/2017, celebrated a Memorandum of Understanding (MOU) with Equinor ASA – Equinor, a company based in Oslo (Norway), focused on the joint development of businesses related to the value chain of natural gas produced from the partnership projects. […]
Brazil Oil Spill ‘Criminally Deposited’: Bolsonaro
(DW.com, 8.Oct.2019) — President Jair Bolsonaro has suggested a criminal element to the mystery oil slicks polluting Brazil’s northeast coast. About 100 oil spills have been detected along the nation’s beaches since early September. Brazilian President Jair Bolsonaro on Tuesday said vast quantities of oil spilled along the country’s beaches […]
Petrobras Finalizes Sale Of Three Fields
(Petrobras, 8.Oct.2019) — Petrobras, following up on the release of 11/28/2018, reports that today it completed the sale of its interests in Pargo, Carapeba and Vermelho fields, located in shallow waters off the coast of the State of Rio de Janeiro, to Perenco Petróleo e Gás do Brasil Ltda. After […]
Petrobras Pays Interest On Capital
(Petrobras, 4.Oct.2019) — Petrobras informs that in connection to the press released of August 1st, 2019 is paying today Interest on Capital (IOC), as defined in art. 9, sole paragraph of its Bylaws. The gross value to be distributed, totaling R$ 2,608,840,252.20, corresponds to a gross amount of R$0.20 per […]
Petrobras Reveals 3Q:19 Release Date
(Petrobras, 4.Oct.2019) — Petrobras reports that on October 17, after market closes, the company will release its quarterly production and sales report for 3Q19 and on October 24, also after market closes, it will disclose the financial statements report. On October 25 it will be held two conference calls/webcasts to […]
Petrobras Delists Shares From Argentine Exchange
(Petrobras, 4.Oct.2019) — Petrobras informs, in addition to the press release issued on August 9, 2019, that the Comisión Nacional de Valores (CNV), the Argentine capital market regulator, has authorized the withdrawal of its shares from the public offering regime, exempting the company from promoting a public offering for the […]
Brazil’s ANP Eyes Two Bid Rounds In 2020
(Energy Analytics Institute, Aaron Simonsky, 2.Oct.2019) — Brazil’s National Petroleum Agency (ANP) plans to conduct two bid rounds in 2020 to offer areas containing billions of barrels of oil and create opportunities for all types of exploration and production companies. Since 1999, the ANP has hosted 15 bidding rounds for […]
Petrobras On Collective Bargaining Agreement
(Petrobras, 1.Oct.2019) — Petrobras informs that since May 2019 has been negotiating with unions to reach an understanding on the 2019-2020 Collective Bargaining Agreement (“ACT”). After more than 20 meetings between representatives of Petrobras and the union, with the submission by the company of three proposals that were not accepted, […]
Petrobras Inks Deal Onshore Fields In The Potiguar Basin
(Petrobras, 30.Sep.2019) — Petrobras signed with the company Central Resources do Brasil Produção de Petróleo Ltda. contracts for the sale of all its stake in the onshore fields of Ponta do Mel and Redonda, located in the state of Rio Grande do Norte. The sale amount is US$ 7.2 million, […]
BP Comes Up Empty Offshore Exploration Hotspot
(Bloomberg, Peter Millard and Kelly Gilblom, 30.Sep.2019) — It was supposed to be BP’s big Brazilian breakthrough after years of setbacks in one of the world’s top destinations for offshore oil. The potential bonanza is still out of reach, two years after the London-based major teamed up with Brazil’s national […]
Brazil Approves 14 Firms For November Oil Tender
(Reuters, 30.Sep.2019) — Fourteen companies have been officially approved by Brazilian authorities to participate in an oil bidding round in November, in which total signing bonuses are expected to be the biggest so far, exceeding $25 billion, national oil regulator ANP said on Monday. As widely expected, the companies participating include […]
Petrobras Says Revap Refinery Fire Occurred During Scheduled Stoppage
(Reuters, 30.Sep.2019) — A major refinery owned by Brazilian state-run oil firm Petrobras was already undergoing a scheduled stoppage when a fire broke out over the weekend, the company told Reuters on Monday, likely limiting the effects on production. Petroleo Brasileiro SA, as the firm is formally known, did not […]
Bolivia LatAmNRG Briefs: Electric Vehicle Plant In Cochabamba
(Energy Analytics Institute, Ian Silverman, 28.Sep.2019) — LatAmNRG briefs related to Bolivia’s President Evo Morales’ visit to Quantum Motors’ electric vehicle plant in Cochabamba and Bolivia signing a contract to market its natural gas to Mato Grosso in Brazil. Morales Visits Quantum Motors’ Electric Vehicle Plant in Cochabamba (Energy Analytics […]
Brazil Reports Oil Spill Along Northeast Beaches
(Reuters, Marta Nogueira and Roberto Samora, 26.Sep.2019) — Brazil’s environmental agency Ibama said on Thursday that an analysis of a vast oil spill along the country’s northeastern beaches showed the spilled crude did not originate in the country. Ibama said in a statement that it had been investigating the spill […]
Petrobras’ Strategic Revision
(Petrobras, 26.Sep.2019) — Petrobras reports that its Board of Directors approved, at a meeting held yesterday, the update of the Vision, Purpose and Strategies for the new 2020-2024 plan, which is currently being prepared. Petrobras’ new vision is to be the best energy company in generating value for the shareholder, […]
Petrobras’ Offers Voluntary Severance Program
(Petrobras, 26.Sep.2019) — Petrobras reports that it has approved a new Voluntary Severance Program (“PDV”) exclusively for employees working in the company’s corporate segment. The initiative is part of the ongoing effort to make the company more sustainable with an efficient staff management. This is the third PDV offered this […]
Petrobras BODs Names Innovation Executive Officer
(Petrobras, 26.Sep.2019) — Petrobras reports that the Board of Directors, in a meeting held yesterday, elected, effective 10/01/2019, Mr. Nicolás Simone for the role of Digital Transformation and Innovation Executive Officer, a new area of the Company that will be deployed after the General Shareholders Meeting to be held on […]
Petrobras Complete Bookbuilding Procedure
(Petrobras, 25.Sep.2019) — Petrobras, following the press release issued on July 23, 2019, reports that the bookbuilding procedure of the 7th issuance of simple, non-convertible, unsecured debentures, in up to 3 (three) series, for placement under best efforts, pursuant to CVM Instruction no. 400 of December 29, 2003, as currently […]
Petrobras Stockpiles LSFO In Malaysia, Singapore
(Argus, 24.Sep.2019) — Petrobras has begun stockpiling low-sulphur fuel oil in Malaysia and Singapore as the 1 January start date approaches for new global marine fuel sulphur regulations. Petrobras is not a registered bunker supplier in Singapore, the biggest bunkering port in the world, but its trading office in Singapore […]
Unit Serving Petrobras Halted Due To Regulatory Issues
(Reuters, 23.Sep.2019) — An oil production unit supporting the operations of Brazilian state-controlled oil firm Petroleo Brasileiro SA has been paralyzed since Sept. 19 due to regulatory issues, the operator, Modec, told Reuters on Monday. The nature of the previously unreported irregularities was not immediately clear. However, Modec said the […]
Petrobras Reports Mooring Incident At P-50
(Petrobras, 23.Sep.2019) — Petrobras reports that platform P-50, located in the Campos Basin, in the Albacora Leste field, had its production preemptively halted on Sunday night, due to the disruption of the mooring of the anchor system. Anchored by another 15 moorings, the platform is stable and safe, offering no […]
Petrobras Reports Advance Of Eletrobras Receivables
(Petrobras, 20.Sep.2019) — Petrobras entered into a Cession Agreement of Credit Rights, allowing the advance of about R$ 8.4 billion of receivables from Eletrobras, recognized in the Debt Assumption Agreements (IADs) referring to the totality of the debts confessed in 2014 by the Eletrobras Group, with original maturity until January […]
Petrobras Updates On Provisioning
(Petrobras, 18.Oct.2019) — Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 3.2 billion as a result of: (i) litigation involving the company Sete Brasil, (ii) environmental process in the state of Paraná; and (iii) disputes on special participation and royalties involving the National Agency […]
Petrobras’ P-68 Departs For Berbigão And Sururu fields
(Petrobras, 16.Sep.2019) — Petrobras reports that the P-68 platform left today the Jurong Aracruz Shipyard, heading to the Berbigão and Sururu fields, in the Santos Basin pre-salt. Production of these fields is expected to begin in the fourth quarter of 2019. In line with its 2019-2023 Business and Management Plan, […]
Petrobras’ Private Exchange Offer Results
(Petrobras, 16.Sep.2019) — Petrobras announced the expiration and expiration date results of the previously announced offers to exchange (the “Exchange Offers”), by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), relating to seven series of its outstanding notes set forth in the tables below (the “Old Notes”). The Exchange Offers […]