(Petrobras, 22.Nov.2019) — Petrobras, following up on the release dated August 30, 2019, informs the beginning of the binding phase regarding the first stage of the sale of refining and associated logistics assets in the country, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in […]
Tag: Petrobras
Petrobras And Proquigel Ink Fertilizer Lease Deal
(Petrobras, 21.Nov.2019) — Petrobras signed with Proquigel Química S.A., a company of Unigel Group, lease agreements of its fertilizer plants in Bahia (Fafen-BA) and Sergipe (Fafen-SE), for the total amount of R$ 177 million for a period of 10 years, renewable for the same term. Leases will become effective upon […]
Why ExxonMobil’s Guyana Success May Have Hurt Petrobras
(The Motley Fool, John Bromels, 20.Nov.2019) — Oil is a big business with even bigger money attached. That’s why governments that control oil assets are eager to auction them off to the highest bidder in the hopes of getting a major payout. But Brazil’s recent oil block auction didn’t go […]
Petrobras Inks Deal To Divest Of Liquigás
(Petrobras, 19.Nov.2019) — Petrobras, following up on the press release of November 7, 2019, reports that it has signed today with Copagaz and Nacional Gás Butano a contract for sale of all its stake in Liquigás Distribuidora S.A. The sale price is R$ 3.7 billion, to be adjusted according to […]
Petrobras Eyes Deep Offshore Shift In 2020
(Reuters, 19.Nov.2019) — Brazil’s state-owned oil firm Petroleo Brasileiro SA expects deep offshore areas to account for 88% of its exploration and production activities next year, up from 55% currently, an executive for the company said on Tuesday. The major shift to deep offshore areas will correspond with onshore exploration […]
Total Reports 1st Oil From Iara Offshore Brazil
(Total, 15.Nov.2019) — France’s Total announced first oil from the Iara license (Block BM-S-11A), located in the deepwater Santos Basin pre-salt. This marks the start-up of the FPSO P-68, the first of the two floating production, storage and offloading units (FPSO) already launched and to be installed on the license. […]
Brazil To Import More LNG If Bolivia Supply Falters
(Argus, 14.Nov.2019) — Brazil will increase LNG imports if pipeline natural gas supply from Bolivia is interrupted because of political unrest, according to Brazilian hydrocarbons agency ANP. Brazilian state-controlled Petrobras confirmed that it was notified by Bolivian state-owned YPFB on 11 November about possible fluctuations in gas supply. Under a […]
Petrobras Discloses Binding Phase For Onshore Fields
(Petrobras, 13.Nov.2019) — Petrobras, following up on the release dated 09/13/2019, reports on the beginning of the binding phase regarding the sale of its stakes in two onshore concessions, including offloading facilities named Cupiúba and Carapanaúba Cluster, located in the state of Amazonas. Qualified parties for this phase will receive […]
Bolivia Warns Of Force Majeure On Gas Exports
(Argus, 12.Nov.2019) — Bolivia’s deepening political crisis is starting to take a toll on its vital hydrocarbons industry. YPFB, Bolivia’s state-owned oil and natural gas company, warned Argentina it may not meet its gas export commitments because of the current unrest that has engulfed the country and led to a […]
Petrobras Discloses Teaser For Uruguayan Assets
(Petrobras, 12.Nov.2019) — Petrobras started the opportunity disclosure stage (teaser) relating to the sale of its fuel, lubricant and fertilizer distribution business in Uruguay. In this project, the company aims to sell 100% of the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI) – a subsidiary of Petrobras […]
Petrobras Delists From Argentine Stock Exchange
(Petrobras, 11.Nov.2019) — Petrobras, following communications disclosed on 08/09/2019, 10/04/2019 and 11/04/2019, reports that it proceeded to the withdrawal of the public offering regime in Argentina and that, therefore, today was the last trading day of the company’s stocks in that market. Argentine shareholders who still hold stocks of the […]
Petrobras Receives Final Offer For Liquigás
(Petrobras, 7.Nov.2019) — Petrobras reports that, as part of the competitive process for divestment of its entire shareholding in Liquigás Distribuidora S.A., the group comprised of Copagaz, Itaúsa and Nacional Gás Butano submitted the best final offer for the company’s acquisition, in the amount of R$ 3.7 billion. The transaction […]
Big Oil Stuns Brazil In Back-to-back Auction Flops
(Reuters, Marianna Parraga, Gram Slattery and Marta Nogueira, 7.Nov.2019) — Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA. The only […]
Brazil’s Pre-salt Encore Flops
(Argus, 7.Nov.2019) — Brazil’s pre-salt auction today mirrored the lackluster results from yesterday’s much-hyped Transfer of Rights offer, raising questions about bonus pricing, the appeal of the country’s production-sharing terms and state-controlled Petrobras’ first-right mandate. Petrobras teamed up with a Chinese partner to take just one of the five exploration […]
Petrobras Buys Aram Block In 6th PSC Bid Round
(Petrobras, 7.Nov.2019) — Petrobras reports that the consortium in which will be the operator, holding 80% of work interest, in partnership with CNODC Brasil Petróleo e Gás Ltda. has acquired one offshore block in the 6th bidding round under the Production Sharing Contract (PSC), held today by the National Agency […]
ANP’s 6th Round Gets R$5.05bn Bid
(ANP, 7.Nov.2019) — The 6th Production Sharing Bidding Round, held today (November 7) by ANP, bid the block Aram in the Santos Basin. The Round raised R$ 5.05 billion in signature bonus and R$ 278 million in planned investments in the first phase of the contract alone (exploration phase). The […]
Brazil Oil Auction A ‘Total Disaster’
(Bloomberg, Sabrina Valle, Peter Millard, and Luiza Ferraz, 6.Nov.2019) — Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. Petrobras, as the company is known, joined with China’s Cnooc Ltd. and […]
Brazil Tender Disappoints
(Reuters, Gram Slattery, Marta Nogueira, Marianna Parraga, 6.Nov.2019) — Brazil’s biggest-ever oil auction frustrated expectations on Wednesday, as high prices and the dominant role of state-run oil company Petrobras scared off global oil majors. Petroleo Brasileiro SA, as the Brazilian firm is also known, and Chinese state firms CNOOC and […]
Major Disappointment In Brazil’s Surplus Round
(Welligence, 6.Nov.2019) — Brazil’s Surplus Transfer of Rights round (6th November 2019), the biggest resource opportunity of the year globally, has ended in huge disappointment. Only two (Buzios and Itapu) of the four opportunities on offer were taken, there was no competition, no participation from the Majors, and the cash […]
Petrobras Takes Prize In Brazil’s TOR Round
(WoodMac, 6.Nov.2019) — Brazil’s largest-ever auction of oil licences – the Transfer of Rights round – saw state-controlled Petrobras walk away with the biggest prizes, the Búzios and Itapu blocks. Luiz Hayum, from Wood Mackenzie’s Latin America upstream research team, said: “As we anticipated, Búzios and Itapu were the stars […]
Petrobras Clarifies Gas Market Agreement
(Petrobras, 5.Nov.2019) — Petrobras clarifies that it has been fully complying with the schedule of commitments made in the agreement signed with the Administrative Council for Economic Defense (CADE) on July 8, 2019. It is worth mentioning the pre-established commitments in the agreement and that have been fulfilled by Petrobras: […]
Don’t Count On Oil To Reignite Latin America
(Project Syndicate, Mauricio Cárdenas, 5.Nov.2019) — Some regard Latin America as the world’s new oil frontier, and think that the region could potentially add three million barrels per day to global output during the next decade. But, although Brazil is well placed to ramp up production, Mexico and Venezuela seem […]
What A Mammoth Oil Auction Means for Brazil
(Americas Quarterly, Naki Mendoza, 5.Nov.2019) — A pre-salt auction 20 years in the making could have broad repercussions for the economy and Jair Bolsonaro’s government. Since its first pre-salt auction in 2013, Brazil has grown accustomed to blockbuster oil deals. But the upcoming Nov. 6 auction of prime offshore acreage […]
Petrobras Extends Period On Argentine Exchange
(Petrobras, 4.Nov.2019) — Petrobras informs, in addition to the press releases issued on August 9 and October 4, 2019, that it has decided to extend until November 11, 2019 the period during which its shares will remain traded in the Argentine stock exchange. Therefore, after 5 pm on that date, […]
Petrobras Discloses E&P Teaser In SergipeAlagoas Basin
(Petrobras, 1.Nov.2019) — Petrobras reports that it has started the opportunity disclosure stage (teaser) regarding the sale of its interest in 15 onshore exploratory blocks, located in the Sergipe-Alagoas Basin. The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selection of potential participants, […]
Petrobras Completes Belem Bioenergia Brasil Divestment
(Petrobras, 1.Nov.2019) — Petrobras, following on the press release issued on 08/08/2019, reports that its subsidiary Petrobras Biocombustíveis S.A. (“PBIO”) completed today the sale of its 50% stake in Belem Bioenergia Brasil (“BBB”) to Galp Bioenergy B.V. (“Galp”), which holds the other 50% stake in the company. BBB was established […]
Petrobras Inks TOR Amendment Agreement
(Petrobras, 1.Nov.2019) — Petrobras, following the press release issued on October 31, 2019, reports that it has signed today the Amendment to the Transfer of Rights Agreement. The signing of the Amendment occurred prior to the Transfer of Rights surplus bidding round, after reaching the budget solution for the payment […]
Brazil’s $50bn Oil Boom Is Falling Apart
(Oilprice.com Julianne Geiger, 31.Oct.2019) — Exxon may not be interested in stepping up to the bidding plate at Brazil’s massive $50 billion transfer of rights auction next week, because the oilfields up for grabs come with a hefty price tag, Exxon’s president of exploration, Stephen Greenlee said in an interview […]
Petrobras On Amendment To TOR Deal
(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 […]
The Atlantic Is Key To Colombia’s Energy Needs
(FT.com, Gideon Long, 28.Oct.2019) — Colombia’s proven oil reserves will run out within the next seven years and its gas reserves within 10. Faced with that bleak prospect, it needs to develop alternative sources of energy quickly and the Caribbean coast is set to play a significant role in this […]
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 $50 billion in auction proceeds, Bloomberg sources familiar with the Brazilian government estimates said on Monday. Licensing fees from Brazil’s November 7 oil auction was originally estimated […]
Petrobras Informs About Provisioning
(Petrobras, 18.Oct.2019) — Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 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 […]
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 – […]
Bolivia Crippled As Leftist Leader Faces Vote
(Bloomberg, Peter Millard, 14.Oct.2019) — For two years, Bolivia pushed to boost natural gas production, a longtime key to its prosperity, by drilling for new discoveries on its southeastern lowlands. The result: An 8 kilometer (5 mile) deep dry hole. There’s arguably no more apt symbol for the situation facing […]
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 […]
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 […]
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 […]