BP and Total, Europe’s biggest oil companies after Shell, won exploration rights in the Amazon basin as Brazil’s first oil auction in five years attracts a record level of bids. Total, based in Paris, gained exploration access to operate five blocks at the Foz do Amazonas basin in northern Brazil together with partners BP and Petrobras, the oil regulator said on Tuesday.
Brazil’s state-controlled oil firm Petrobras sold 11 billion dollars of global debt on Monday in the largest-ever bond offering by a Latin American company. The deal was split in six tranches comprised of fixed- and floating-rate debt with maturities ranging from three to 30 years, according to a report from Thomson Reuters.
Brazil's state-run oil company Petrobras found good quality oil in a sub-salt area of the offshore Santos Basin, one of the world's most promising oil frontiers, according to a securities filing by Petrobras on Tuesday.
Brazil’s Petrobras is selling its 20% stake in the Gila prospect in the US Gulf of Mexico as part of its ongoing divestment program. The state-owned company said it had signed a sale and purchase agreement for the sale of its equity in exploration blocks KC 49, 50, 92, 93, 94 and 138, which make up the BP-operated asset.
The Brazilian government has come to the rescue of the sugar-ethanol industry announcing that as of next May first the mandatory content of ethanol in gasoline will increase from 20% to 25%, taxes on the sugar-cane fuel will be eliminated and there will be soft loans to keep expansion going.
Brazil’s oil and gas Petrobras said Argentina needs clear rules to foster investments if it wants to develop its unconventional oil and gas resources.
Brazilian state-controlled oil company Petrobras has unveiled its business plan for the 2013-2017 period projecting investment of 236.7 billion dollars and maintaining its goal of raising crude-oil output from 2 million barrels per day in 2012 to 4.2 million bpd in 2020.
Brazil’s Petrobras shares surged in Wednesday trading after the company surprised investors with a 5% increase in domestic diesel wholesale prices. The latest increase helps offset investor disappointment with January's lower-than-expected jump in gasoline and diesel prices, which had pushed Petrobras's shares to a seven-year low in recent sessions.
Brazil’s government managed oil and gas corporation Petrobras posted a net benefit of 21.182 billion Reais (approx 10.6bn dollars) in 2012, which is 36% below 2011, reported the company in a filing, but in the fourth quarter profits totalled 7.747bn Reais (approx 3.9bn dollars) 53% higher than in the same period in 2011.
After months of delays, the P-63 floating production storage and offloading unit (FPSO) has made its temporary home in Brazil's Port of Rio Grande, Petrobras and the Quip consortium said on Thursday.