Tag: Brazil

Production from offshore pre-salt oil deposits has increased Brazil’s oil production

Production from offshore pre-salt oil deposits has increased Brazil’s oil production

Pre-salt oil deposits are under deep, thick layers of rock and salt and require substantial investment to extract Brazil has produced 3.3 million barrels per day (b/d) of petroleum and other liquids so far in 2017, according to U.S. Energy Information Administration data through Aug., up from 3.2 million b/d in 2016 – making it […]

By December 14, 2017 0 Comments Read More →
Total to buy $2.2 billion worth of Petrobras assets, including oilfields

Total to buy $2.2 billion worth of Petrobras assets, including oilfields

Petrobras divestment in past two years totals $13 billion RIO DE JANEIRO, Dec 21 (Reuters) – Petroleo Brasileiro SA said on Wednesday it will sell $2.2 billion worth of assets to France’s Total SA, including stakes in oilfields and two thermal power stations. Petrobras, as the state-run company is known, will receive $1.6 billion in […]

By December 21, 2016 0 Comments Read More →
Spain arrests man suspected of being “mastermind” in Petrobras case

Spain arrests man suspected of being “mastermind” in Petrobras case

Petrobras corruption case implicated politicians, businessmen in bribe, kickback scheme MADRID, Nov 22 (Reuters) – Spanish police have arrested a man suspected of being a “financial mastermind” in a corruption network at Brazil’s semi-public oil company Petrobras , the Interior Ministry said on Tuesday. The man, 43, is of dual Brazilian and Spanish nationality and […]

By November 22, 2016 0 Comments Read More →
Offshore oil production in deepwater and ultra deepwater is increasing

Offshore oil production in deepwater and ultra deepwater is increasing

US and Brazil together account for more than 90% of global offshore oil deepwater production Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 million b/d in 2015, according to the US Energy Information Administration. Deepwater production, or production in water of depths greater than 125 meters, has increased 25 per […]

By October 28, 2016 0 Comments Read More →
Offshore production 30% of global crude oil output in 2015

Offshore production 30% of global crude oil output in 2015

Gulf of Mexico total offshore production grew by 6.5% from 2005 to 2015 Global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30 per cent of total global crude oil production, according to the US Energy Information Administration. Offshore oil production increased in both 2014 and 2015, reversing consecutive annual declines […]

By October 25, 2016 0 Comments Read More →
World’s nine largest operating power plants are hydroelectric facilities

World’s nine largest operating power plants are hydroelectric facilities

Soon-to-be-largest power plants in world are hydroelectric plants under construction in China and Brazil An estimated 62,500 power plants are operating around the world, with a total installed generating capacity of more than 6,000 GW in 2015, according to US Energy Information Administration. The nine largest operating power plants in the world by capacity are all […]

By October 19, 2016 0 Comments Read More →
Local content requirements in Brazilian oil, gas auctions

Local content requirements in Brazilian oil, gas auctions

14th round of Brazilian oil rights concessions auctions to be held in 2017 BRASILIA, Oct 17 (Reuters) – President Michel Temer’s government will ease requirements that oil industry equipment be produced in Brazil as part of its effort to draw investment and lower costs that have hindered development of vast reserves, a senior official said on […]

By October 17, 2016 0 Comments Read More →
Brazil development bank scraps financing for coal fired plants

Brazil development bank scraps financing for coal fired plants

Coal fired plants investment out, reduction in gas fired power plants investment as well By Marcelo Teixeira SAO PAULO, Oct 3 (Reuters) – Brazil’s BNDES, Latin America’s largest development bank, said on Monday it will no longer finance coal-fired or oil-fired power plants in a push to discourage carbon-intensive energy projects. BNDES released a new […]

By October 3, 2016 0 Comments Read More →
Brookfield-led group to buy stake in Petrobras natgas pipeline

Brookfield-led group to buy stake in Petrobras natgas pipeline

Brookfield, other investors to pay $4.34 billion on closing, $850 million in five years By Jeb Blount RIO DE JANEIRO, Sept 23 (Reuters) – Brazil’s state-owned oil producer Petrobras agreed to sell 90 percent of a natural gas pipeline unit to a group led by Canada’s Brookfield Asset Management Inc for $5.2 billion, the companies […]

By September 23, 2016 0 Comments Read More →
Former Brazilian finance minister arrested in Petrobras probe

Former Brazilian finance minister arrested in Petrobras probe

Petrobras probe into alleged corruption at Brazilian state-owned oil company By Brad Haynes and Brad Brooks SAO PAULO, Sept 22 (Reuters) – Brazilian police arrested former Finance Minister Guido Mantega on Thursday as a sweeping corruption investigation further struck at the heart of the Workers Party (PT) that ran the country for 13 years. Police […]

By September 22, 2016 0 Comments Read More →