By Lucy Jordan, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazil’s 11th oil and gas auction, held Tuesday in Rio de Janeiro, raised a record R$2.8 billion, the industry’s regulatory agency said, with Petrobras winning the most blocks, and oil giants, BP, Total, Chevron and ExxonMobil also gaining rights to explore new areas. The [...]
By Maria Lopez Conde, Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazilian state-controlled oil and gas giant Petrobras has said it will keep its promise to invest R$97.7 billion (US$48 billion) in petroleum and natural gas exploration and production in the country this year, affirmed its financial director, Almir Barbassa, at the company’s first trimester [...]
By Maria Lopez Conde, Contributing Reporter RIO DE JANEIRO, BRAZIL – Sixty-four out of the 71 national and international companies that filed requests with the Brazil’s National Petroleum Agency (ANP) will be allowed to bid for Brazilian exploration blocks this May, the oil regulator announced. This represents a modest increase from the 61 firms that [...]
By Lisa Flueckiger, Contributing Reporter RIO DE JANEIRO, BRAZIL – An oil leak in Petrobras’ Terminal Marítimo Almirante Barroso (Tebar) has polluted the region around São Sebastião, on the northern coast of São Paulo on Friday night. During the weekend the oil reached the popular tourism region of Caraguatatuba, covering a stretch of about 15 [...]
By Ben Tavener, Senior Contributing Reporter SÃO PAULO, BRAZIL – Five of the world’s biggest emerging economies, which together make up the BRICS group – Brazil, Russia, India, China and South Africa – have met in Durban, South Africa, to take part in the fifth annual BRICS Summit. While the event is aimed at cementing [...]
By Leo Byrne, Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazil’s majority state owned oil giant Petrobras last week officially requested that regulators relax strict requirements on “local content” laws. The term refers to the use of domestic goods and services, and Petrobras has requested changes before the next bidding rounds for new oil and [...]
By Lucy Jordan, Senior Contributing Reporter BRASÍLIA, BRAZIL – Following three consecutive months of increasing domestic oil production, state-controlled oil giant Petrobras reported decreased output in January, dragged down by aging infrastructure and maintenance shutdowns. Petrobras’ production of oil and natural gas in Brazil in January was 2.368 million barrels of oil equivalent per day [...]
By Andrew Willis, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The state of Rio de Janeiro is set to gain four new ports, with investments expected to reach roughly R$9 billion (US$4.5 billion). The moves are part of the Brazilian government’s wider plan to overhaul the country’s creaking port infrastructure, which also sparked dockworkers [...]
By Andrew Willis, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Government-imposed price caps on fuel sold in Brazil continue to cause difficulties for state-led oil firm Petrobras, despite a surge in income during the fourth quarter of 2012. Chief executive Maria das Graças Foster has reportedly warned the government that rising debt levels, linked [...]
By Leo Byrne, Contributing Reporter RIO DE JANEIRO, BRAZIL – Petrobras, Brazil’s majority-state-owned oil producer continued its downward trajectory as it announced profits of R$21.1 billion in 2012, a 36.6 percent slump when compared to the previous year. The figure marks the company’s lowest profit margin for eight years. In a statement the oil giant [...]
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