Brazil's Brava is moving closer to the sale of Rio Grande do Norte properties
Brava Energia, based in Brazil, is planning to sell 11 oil and natural gas concessions located in the state of Rio Grande do Norte to Azevedo & Travassos infrastructure company and Petro-Victory Energy oil company. Brava announced in a Tuesday securities filing…
Petrobras Slashes Platform Decommissioning Budget
Brazil's state-run oil firm Petrobras PETR4.SA cut $1.1 billion in planned investments in decommissioning oil and gas platforms in its strategic plan for the 2025-2029 period, compared to what was earmarked in its 2024-2028 plan, the company told Reuters.Petrobras…
Brazil's prosecutors press Petrobras to conduct more Amazon drilling studies
Brazilian federal prosecutors have asked Petrobras, the state-run oil company, to conduct more studies before drilling near the Amazon rainforest coast, citing the potential effects of extreme weather conditions on tides. Documents filed Monday with environmental…
Petrobras bids for ships for Sergipe Deepwater Project
Petrobras, the state-owned oil company of Brazil, has announced a bid to purchase up to two offshore production vessels as part of its Sergipe deepwater project SEAP. The announcement was made in a late Friday securities filing. The floating production, storage…
Brazil Gas Subsidy Plan is hindered by fiscal concerns
The Brazilian fiscal constraints may prevent a proposal to subsidise the price of natural gases used to make nitrogen fertilizers, Bernardo Silva said, executive director of the fertilizer lobby Sinprifert. The group, which includes Mosaic, Eurochem, and Yara in Brazil as members…
Sources: Petrobras is in discussions with Raizen, BP, and Inpasa about a joint venture for ethanol
Two sources familiar with the matter said that Brazilian state-run Petrobras was in discussions with Raizen, BP, and Inpasa about a potential joint venture for ethanol. Earlier that day, Petrobras' director of energy transformation, Mauricio tolmasquim, told…
Petrobras of Brazil presents a five-year business plan worth $111 billion, with $10 billion in additional dividends
According to a Securities filing, the Brazilian state-run company Petrobras announced Monday that it had proposed a $111 billion plan to its board for 2025-2029. The filing stated that the business plan allows ordinary dividends starting at $45 Billion for the period and up to $10 Billion in extraordinary dividends.
Petrobras and Yara Sign Agreement for Diesel Exhaust Fluid Sales in Brazil
Petrobras, Brazil's state oil company, has signed agreements with ANSA and fertilizer firm Yara. Yara could sell AUS 32 diesel-exhaust fluid in Brazil. Brazil imports AUS32, or 32% solution of aqueous Urea, to reduce the emissions from diesel cars. ANSA will produce AUS 32 in its plant in Parana in the south of Brazil…
After cutting debt, Vallourec pays first dividend after 10 years
French steel tube maker Vallourec announced on Friday that it will pay its first dividend for 10 years, after further reducing its debt and completing its financial restructuring plan. However, the group's shares fell 3% at 0805 GMT after it reported a decline in its third quarter earnings.
Colombian court reverses order to suspend gas well off Caribbean coast
On Wednesday, a Colombian court overturned a previous court order that was issued last month, which had suspended operations at Sirius-2 (formerly known as Uchuva-2), a major offshore gas well. The ruling was issued on October 29, following a complaint from…
Petrobras 2025-2029 Strategic Plan likely to reach $110 billion, sources claim
Two sources with knowledge of the matter said that the new Petrobras strategic plan would include investments worth $110 billion for 2025-2029. This represents an increase of 8% over its previous multi-year projection. Sources said that executives are still finalizing the plan…
Ibama, Brazil's Ibama, seeks information on Petrobras Amazon project and rejects suggestions to kill it
Documents seen by on Tuesday showed that the head of Brazil's environment agency Ibama decided not to reject a Petrobras request to drill near Amazon River, even though experts at the agency recommended the request be rejected. According to regulatory documents…
Baker Hughes will supply pipe systems for Brazil's Petrobras
Baker Hughes, a provider of oilfield services, announced on Monday that it had signed an agreement with Petrobras to provide 77 kilometers (47.85miles) of flexible pipe system for Brazil's Santos Basin pre-salt field. Santos Basin, an offshore oil and gas-rich region off Brazil's southeast Atlantic coast.
Petrobras wants to increase the output of Tupi oilfield to 1 million barrels per day by 2027
Petrobras, the state-owned firm in Brazil, plans to increase oil production from its Tupi oilfield to 1,000,000 barrels per day (bbls) by 2027. It plans new investments to be made into this asset. Tupi, located in deep water offshore, is Brazil's biggest oil field by production (832…
Petrobras signss agreement to supply Vale fuel with renewable content
Petrobras and Vale have agreed to sell Vale diesel containing renewable content. The two Brazilian giants announced the agreement on Friday. The agreement represents a concrete step by Vale in decarbonizing its operations. It also marks a victory for Petrobras…
Sources say that Brazil's Petrobras will reduce its investments for 2025.
Three sources said that Brazil's Petrobras will reduce its planned investments next year despite the government's request for the state-run company to increase CAPEX. Initial estimates from the firm suggest that spending may be reduced to $17 billion. Petrobras didn't immediately respond to an inquiry for comment.
Petrobras claims that the Sirius gas field in Colombia could produce 13.3 million cubic metres of gas per day.
Petrobras' exploration general manager Rogerio Soares, who spoke at a conference for the industry on Thursday, said that Colombia's offshore Sirius well could produce 13.3 million cubic metres per day in 10 years. Soares, speaking at the Colombian Petroleum Association (ACP)'s forum on oil and gas in Cartagena…
Petrobras' focus remains Brazil despite Africa plans, director says
Petrobras, the state-owned oil company in Brazil, has its main focus on its own country. Its director of exploration, production, said this Thursday. He added that Brazil remained a top priority, even though it plans to expand into Africa. Petrobras, which is looking to replenish its oil reserves in the future…
Petrobras, Brazil's natural gas company, will pump gas from a reopened offshore oil well
Petrobras, the Brazilian oil giant, is planning to reopen an oil well that was closed in its offshore Roncador oil field to obtain natural gas quickly. This decision was made by the company's CEO on Thursday. Magda Chambriard, the Chief Executive of Magda Energy…
Analysts say that Colombia must develop a natgas plan soon to prevent blackouts.
If it wants to prevent power blackouts in Colombia, the head of Wood Mackenzie’s Americas Gas and LNG division said that Colombia needs to decide quickly whether it will focus on LNG imports or promote domestic production of natural gas. Colombia, under leftist…
