Brazil – Page 2 – Oil & Gas 360

Brazil showcases oil & gas, technology, opportunities for foreign investors during OTC

May 3, 2022

World Oil ApexBrasil, a Brazilian Trade and Investment Promotion Agency, is partnering with Brazil’s Energy Research Office (EPE), The Brazilian Petroleum and Gas Institute (IBP), The Brazilian National Agency of Petroleum, Natural Gas, and Biofuels (ANP), Petrobras, and the Federation of the Industries of Rio De Janeiro State (FIRJAN) to highlight the country’s burgeoning leadership in the sector at the Offshore Technology Conference (OTC)

EXCLUSIVE Brazil has oil. Exxon can’t seem to find it

February 14, 2022

Yahoo Finance HOUSTON – Exxon Mobil Corp has bet billions of dollars on offshore drilling in Brazil, an area it once abandoned and now sees as key to its future. But five years into its comeback, the U.S. oil giant has yet to make a major oil discovery as an operator in Brazil’s waters and has let opportunities to

South American oil nations sign MoU to explore development of energy corridor

January 25, 2022

Oil Now Guyana’s President Dr. Mohamed Irfaan Ali said on Monday the South American country along with Brazil and Suriname will explore the development of an energy corridor linking the oil producing nations. He said that Guyana is also committed to the wider goal of energy security for the countries of the northern cone of South America: Brazil, Suriname and

South America’s oil giant and upcoming star looking to forge strategic partnership

January 12, 2022

Oil Now South American oil giant, Brazil, and Guyana, the world’s hottest exploration hotspot with an incredible string of discoveries in the Stabroek Block, are poised to deepen their bilateral relations. Towards this end, Guyana’s President, Dr. Irfaan Ali held a teleconference on Monday with his counterpart President of the Federative Republic of Brazil, Jair Bolsonaro, to discuss his

Brazil looking to tap oil at same geologic trend delivering big discoveries in Guyana

January 10, 2022

Oil Now Brazil’s state-run oil company Petrobras will begin exploration this year at a resource-rich region along the country’s northern coast that falls in the same geologic trend containing the massive offshore discoveries made in neighboring Guyana. According to Petrobras reservoir executive manager Tiago Homem, the company plans to invest $2 billion in exploration at the Equatorial Margin through 2026.

Brazil’s Petrobras to sell Braskem stake by February

January 7, 2022

Nasdaq SAO PAULO, Jan 7 – Brazilian state-run oil company Petrobras PETR4.SA said on Friday it expects to sell 100% of its preferred stake in petrochemical producer Braskem SA BRKM5.SA by February. The detailed timeframe came after Petrobras announced earlier in the day that the move was planned for the first quarter of 2022. Petroleo Brasileiro SA, as the company is formally known, also reiterated in a securities filing that the move will be

Total, Shell pile into Brazil’s offshore fields in $2 billion sale

December 17, 2021

Nasdaq RIO DE JANEIRO – TotalEnergies SE, Royal Dutch Shell (LON:RDSa), Petrobras, Petronas and Qatar Energy scooped up two blockbuster offshore fields in Brazil on Friday, raking in 11.14 billion reais ($1.96 billion) in signing bonuses for the government. TotalEnergies, Qatar Energy and Malaysia’s Petronas won the right to develop the coveted Sepia field, while Brazil’s state-run Petrobras, formally Petroleo

Brazil’s offshore revival seeks to double crude output by 2030

July 26, 2021

Worldoil.com RIO DE JANEIRO (Bloomberg) –If an energy transition is underway around the world, it hasn’t reached the streets of Ilha da Conceicao, the working-class district at the heart of Rio de Janeiro’s oil revival. There, buses and trucks are piling into Baker Hughes Co.’s shipyard, where the energy services giant is churning out hundreds of kilometers of oil and

Exclusive: Brazil’s Petrobras price hikes show company’s independence -CEO

July 8, 2021

Reuters RIO DE JANEIRO – Brazil President Jair Bolsonaro was not consulted or informed about state oil giant Petrobras’ decision this week to raise fuel prices, which underscores the company’s independence, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday. The ex-army general chosen in April by Bolsonaro to lead the company said there has not been and there

At Brazil’s Petrobras, a ‘Spartan’ military man takes the reins

April 12, 2021

Reuters RIO DE JANEIRO – For many investors, the appointment of former army general Joaquim Silva e Luna as the new chief executive of Brazil’s state-run oil company Petrobras was unexpected – and unwelcome. President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm is formally known, in a Facebook post in

Exclusive: Incoming Petrobras CEO says he has no plans to push out executives

March 24, 2021

Reuters RIO DE JANEIRO – Joaquim Silva e Luna, the incoming CEO of Brazil’s state-run oil company Petrobras, told Reuters that at least part of the executive board could stay on when he takes over in April, a signal that he is not planning a wholesale shake-up of management. The former defense minister and army general added, however, that at

Brazil’s Petrobras rebounds as board meets on succession

February 23, 2021

Reuters SAO PAULO – Brazilian state-run oil group Petrobras recovered some of its recent share price losses on Tuesday as the board met to consider Brazil President Jair Bolsonaro’s nomination of a retired general to replace the company’s market-friendly CEO. Shares in Petroleo Brasileiro SA, as the company is officially known, rose as much as 8% after back-to-back losses that

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