Tag Archives: Brazil

Petrobras could be the last man standing when it comes to crude oil production amid the energy transition, the state-run oil company’s CEO Jean Paul Prates said in an interview in Rio de Janeiro. “We will get market share,” Prates said, according to Bloomberg, referring to Brazil’s state-run oil company. …

Five European oil majors have drawn a line in the sand with Brazilian President Luiz Inacio Lula da Silva’s administration over a surprise oil export tax that raises the specter of resource nationalism in Latin America’s biggest oil producing country. The Brazilian subsidiaries of Shell Plc, TotalEnergies SE, Repsol SA, …

QatarEnergy has announced an oil discovery in the 4-BRSA-1386D-RJS well in Brazil’s world class Sépia oil field, which is located in the prolific Santos Basin in water depths of about 2,000 meters off the coast of Rio de Janeiro. QatarEnergy acquired a working interest in the Sépia Co-Participated Area in …

On behalf of its partners in the Bacalhau oil field, Equinor Brasil has awarded Valaris a 540-day drilling contract to commence in 2023. The Valaris DS-17 drillship will be used to drill an appraisal well, cap a former exploration well and conduct additional drilling scope work in Brazil. It is …

While TotalEnergies, Qatar Energy and Petronas won the rights to develop the coveted Sepia field, Brazil’s state-run Petrobras, formally Petroleo Brasileiro SA, later entered the consortium by exercising preference rights. Petrobras, Total and Shell secured the nearby Atapu field. The auction was widely seen as a test of Brazil’s investment …

Brazil is expected to contribute about 48% (1.35 MMb/d) of the Americas crude and condensate production in 2025 from upcoming projects (excluding the US L48), according to GlobalData. The company’s latest report, ‘Americas Upstream Development Outlook, 2021–2025’, reveals that 1.164 MMb/d of crude and condensate production in Brazil in 2025 …

Brazil’s oil industry has absolutely exploded in recent years, and now the Latin American country could even be on track to becoming a global top 5 producer. In a little over a decade Latin America’s largest economy Brazil has become a leading global oil producer. At the end of 2020, …

Brazil’s state-led oil company Petrobras discovered hydrocarbons in the C-M-411 block located in the offshore Campos Basin, the company said Jan. 29. “The data from the well will be analyzed to better guide exploratory activities in the area and the potential of the discovery,” Petrobras said. The discovery was made …

Sharply weaker oil prices, the COVID-19 pandemic, and heightened geopolitical uncertainty have done little to blunt Brazil’s epic offshore oil boom. By September 2020 Brazil had soared to be the third-largest supplier of crude oil to China, the world’s second-largest economy. The scale of Brazil’s deep-water offshore oil boom is …

China is making a major power play to expand its global energy influence. The United States has long played an outsized role in global geopolitics and energy markets thanks to the shale revolution which jettisoned the country to the top of the fossil fuel food chain. But if you’ve been …