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Carcará oil discovery in Brazil

Carcará oil discovery in Brazil

December 13, 2017 No Comments

Statoil and Queiroz Galvão Exploração e Produção (QGEP) have completed their transaction announced in July 2017, whereby Statoil has acquired QGEP’s 10% interest in the BM-S-8 block in Brazil’s Santos basin for a total consideration of USD 379 million. Following the completion of this transaction, Statoil and its partners in the Carcará North block, ExxonMobil […]

One Indicator OPEC Must Watch

One Indicator OPEC Must Watch

December 7, 2017 No Comments

“We will not let go of our current approach until we reach a balanced market,” Saudi oil minister Khalid al-Falih said Monday at a news conference in Riyadh. OPEC ended months of speculation last week when it decided to extend its production cuts through the end of 2018, easing concerns that the limits would be […]

Petrobras signs financing agreement with China Development Bank

Petrobras signs financing agreement with China Development Bank

December 6, 2017 No Comments

Petróleo Brasileiro S.A. – Petrobras informs that it has signed yesterday with China Development Bank (CDB) a financing agreement of US$ 5 billion with maturity in 2027. On the same date, Petrobras also signed a commercial agreement with Unipec Asia Company, establishing a preferential supply of 100 thousand barrels of oil equivalent per day, based […]

Brazil’s High Court Rejects Attempt to Enforce Ecuadorian Judgment Against Chevron

Brazil’s High Court Rejects Attempt to Enforce Ecuadorian Judgment Against Chevron

December 1, 2017 No Comments

Brazil’s Superior Court of Justice (STJ) unanimously rejected an attempt to enforce a fraudulent Ecuadorian judgment against Chevron Corporation on Wednesday, November 29, citing a lack of jurisdiction. The fraudulent judgment has now been rejected in Argentina, Brazil and the United States. “Courts around the world continue to reject attempts to profit from this fraudulent […]

Brazil’s Libra Field Comes On Stream

Brazil’s Libra Field Comes On Stream

November 28, 2017 No Comments

Total announces first oil from the Libra mega-field, located in ultra-deep waters 180 kilometers offshore Rio de Janeiro, in the pre-salt Santos Basin in Brazil. The floating production, storage and offloading (FPSO) unit Pioneiro de Libra has a capacity of 50,000 barrels of oil. This start-up of the early production system will generate revenue while […]

Shell expands pre-salt growth in deep-water Brazil

Shell expands pre-salt growth in deep-water Brazil

October 28, 2017 No Comments

Royal Dutch Shell plc (“Shell”) and its partners won today three, 35-year production sharing contracts for pre-salt blocks located in the Santos Basin, offshore Brazil. Shell will pay its share of the total signing bonuses, equating for all bids, of to approximately USD $100-million [R$ 332.5-million]. Today’s winning bids for Shell include a block adjacent […]

Statoil strengthens its position in Brazil

Statoil strengthens its position in Brazil

October 27, 2017 No Comments

Statoil Brasil Oleo e Gas Ltd., a subsidiary of Statoil ASA (OSE:STL, NYSE:STO), ExxonMobil Exploracao Brasil Ltda., a subsidiary of Exxon Mobil Corporation (NYSE:XOM), and PETROGAL BRASIL, S.A., a subsidiary of Galp (NYSE: GALP.LS), were the high bidders for a production sharing contract for the Carcará North block in Brazil’s second pre-salt offshore licensing round […]

Petrobras Oil and natural gas output in September

Petrobras Oil and natural gas output in September

October 26, 2017 No Comments

In September, our total oil and natural gas output was 2.79 million barrels of oil equivalent per day (boed), of which 2.68 billion boed produced in Brazil and 106,000 boed abroad. The average oil output in the country was 2.17 million barrels per day (bpd), 2.8 percent more than in August. This was mainly due […]

GE and Atlas Renewable Energy Partner to Deliver Solar Farms in Brazil

GE and Atlas Renewable Energy Partner to Deliver Solar Farms in Brazil

October 16, 2017 No Comments

Competitive with coal-based power generation, the sharply reduced solar-based electricity price continues to push boundaries of technology to further reduce the cost of energy production. With a 50 percent increase of power voltage compared to the previous versions, 1,500-volt solar technology is leading the trend to continue lowering the cost of electricity amid the increasingly […]

Shell divests its interest in Comgás

Shell divests its interest in Comgás

October 11, 2017 No Comments

Shell Gas BV, Shell Brazil Holding BV and Integral Investments BV (“Shell”) announced they have signed an agreement with Cosan Ltd. to execute an existing Put Option Agreement, which allows Shell to sell all of its 16.8% interest in Companhia de Gas de São Paulo (“Comgás”) to Cosan Ltd. Under the agreement, Shell will exchange […]

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