Brazil – Page 5 – Oil & Gas 360

$728-Million Award for Vantage Drilling Upheld by U.S. District Court - Oil & Gas 360

Petrobras to Privatize Brazil’s Top Gas Seller in $2 Billion Share Sale

July 23, 2019

From Reuters Brazilian state-run oil company Petroleo Brasileiro SA is set to relinquish control of the country’s biggest fuel distributor in a share offering due to be priced late on Tuesday, pushing ahead with a privatization drive under new Chief Executive Roberto Castello Branco. Each of Branco’s three predecessors discussed privatizing Petrobras Distribuidora SA. The share offering of the gas

GeoPark Q2 2019 Operational Update

July 15, 2019

GeoPark Announces Second Quarter 2019 Operational Update

SBM Offshore to Operate FPSO Offshore Rio with Petrobras - Oil & Gas 360

Petrobras Gets New Offshore Partner

June 11, 2019

FPSO Mero 2 expected to produce 180,000 BOPD SBM Offshore N.V., a holding company headquartered in Amsterdam, signed a letter of intent this week with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease to operate its floating production storage and offloading (FPSO) vessel Mero 2. FPSO Mero 2 will be deployed at the Mero field in the Santos Basin, located

Brazil Expects Petrobras Reserves Payout Above $18 Billion

March 20, 2019

From Bloomberg Petrobras is expected to receive more than $18 billion from a mixture of government and private sources as payment for oil reserves, people familiar with the matter said, potentially resolving a dispute that has dragged on since 2013. Brazil’s government anticipates that companies seeking to join in deep-water oil projects would need to pay Petrobras more than $9 billion,

EIG Plans to Bid for Brazil Pipeline Network as Petrobras Sets Deadline

March 13, 2019

From Bloomberg EIG Global Energy Partners plans to bid for Petrobras’s TAG natural gas pipeline network as the Brazilian oil giant is giving bidders just another three weeks to raise their offers. The state-run company released details on the leading offer to the other two competing groups, and they’ll have until April 2 to come up with final bids, EIG

Why Billions of Barrels of Oil Go Untapped in Brazil

March 4, 2019

From Bloomberg There’s enough as-yet-unassigned oil under the Atlantic Ocean off Brazil’s Rio de Janeiro to keep the entire world running for almost six months. So why is the crude just sitting there? A contract dispute between oil giant Petrobras and the government has been dragging on since 2013, and until it’s resolved, drillers can’t start targeting those deep-water deposits.

Next OPEC Headache Is Brazil’s Burgeoning Crude Production

February 20, 2019

From Bloomberg When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market. The mammoth facility — long and wide enough to fit an American football field — is the first of four similar platforms to begin pumping crude this

Brazil’s Deepwater Lula North is Now Producing

February 1, 2019

Shell And Partners Start Deep-Water Production At Lula North In Brazil

Petrobras Shares Rise on Report Brazil Government to Pay Oil Firm $14 Billion

January 7, 2019

From Reuters Common shares in state-controlled oil company Petroleo Brasileiro SA rose almost 4 percent on Monday after a newspaper said the government had settled on the amount it will pay the firm to settle a dispute over an oil-producing zone known as the transfer-of-rights area. Brazilian newspaper Valor Economico said the government had planned to pay Petrobras, as the

Petrobras Cutting Houston Jobs after Forming Gulf Joint Venture

December 12, 2018

From Houston Chronicle Brazilian state oil company Petrobras will terminate more than 50 Houston jobs next year after selling much of its Gulf of Mexico assets into a new joint venture. Petrobras, which has struggled financially amid a nationwide corruption scandal in Brazil, opted to sell its Gulf assets earlier this year into a JV in which it will only

Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

November 30, 2018

From Houston Chronicle The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services. A new report Tuesday by research firm Wood Mackenzie highlights how the offshore sector has returned to viability through costs reductions and greater

Petrobras Sells Rights in 37 Oilfields for $823 Million

November 29, 2018

Sale of stake in 34 onshore fields in Rio Grande do Norte Rio de Janeiro based Petrobras’ board of directors approved yesterday the full sale of its stake in 34 onshore production fields, located in the Potiguar Basin, in Rio Grande do Norte state, to the company 3R Petroleum. The 34 concessions are mature fields in production for over 40

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