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Montevideo, September 19th 2018 - 02:09 UTC

Tag: Brazil oil

  • Thursday, June 21st 2018 - 08:57 UTC

    Brazil eases rules in oil industry to boost production

    Petrobras banned top offshore construction companies, most of which domestic,  after the Lava Jato investigation revealed the extend of corruption

    Brazil’s move to ease rules forcing oil producers to buy from domestic suppliers means Latin America’s top producer will be able to sustain output of 5 million barrels per day (pbd) by the mid-2020s, compared to just 3.7 million bpd under prior rules, consultancy Wood Mackenzie said in a report on Wednesday.

  • Wednesday, May 2nd 2018 - 08:31 UTC

    Petrobras increases offshore production: plans an extra million bpd output next year

    The seven new platforms would allow Petrobras, whose output has declined this year, to add up to 500,000 barrels per day of new oil production next year

    Brazil’s state-controlled Petrobras expects oil production to start by the end of June at its Tartaruga Verde e Mestica offshore platform, the second of seven facilities planned to be installed this year, a company executive said on Monday.

  • Wednesday, April 25th 2018 - 08:59 UTC

    Brazilian company buys Shell downstream assets in Argentina

    Raízen besides 645 gas stations is also acquiring a refinery in Buenos Aires, LPG and aviation fuel terminals and a lubricant plant, among others

    Brazil’s Raizen Combustiveis SA agreed to buy downstream assets in Argentina from Royal Dutch Shell for US$ 950 million, according to a securities filing on Tuesday. Raízen Combustiveis, a joint venture between Brazil´s Cosan SA Indústria e Comércio and Shell, will have a 20% market share in fuel distribution in Argentina.

  • Tuesday, April 24th 2018 - 08:42 UTC

    Brazil poised for historic oil boom

    A range of analyst and oil company estimates put the breakeven price for pre-salt fields at less than US$ 40 per barrel compared to US$ 45 seven years ago.

    By Mathew Smith<br />
    <br />
    After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. The economy commenced growing again in 2017 with gross domestic product (GDP) expanding by 1 percent and 2018 GDP growth forecast by the International Monetary Fund (IMF) to be 2.3%.

  • Thursday, October 5th 2017 - 09:23 UTC

    The next big offshore boom is about to happen...in Brazil

    The 287 blocks auctioned are just the first portion of a number of deposits that hold an estimated 10 million barrels of crude in proven reserves.

    By Irina Slav for Oilprice.com - Say what you will about offshore oil and gas exploration, but it's still alive and kicking—high production costs and all. The latest demonstration of the viability of deepwater projects, even in the post-2014 oil industry era, comes from none other than Brazil.