Globally, 67 planned and announced FPSOs (Floating, Production Storage and Offloading) are expected to start operations between 2019 and 2025. Among regions globally, South America continues to lead with 27 planned and announced FPSO additions by 2025, followed by Africa and Europe. Brazil and the Falkland Islands are the key countries in the region for FPSO deployments. Among operators, Petrobras leads South America in terms of FPSO deployments.
One of Brazil’s best-performing hedge funds has been scooping up the shares of state-controlled oil giant Petrobras. Joao Braga and Marcos Peixoto, who manage US$ 1.3 billion (5 billion reais) at XP Asset Management, have increased their stake in Petrobras, making it the biggest holding of their XP Long Biased fund even as the oil producer’s rally has outpaced the benchmark.
Petrobras oil production fell 3.5% in the first quarter from the same period a year before, according to Brazil’s oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages.
Latin American currencies softened against a stronger U.S. dollar on Thursday, a day after the U.S. Federal Reserve kept interest rates steady, while most regional stock markets broadly fell along with their global peers.
Brazil's state-controlled oil company Petrobras on Friday for the first time detailed long-awaited plans to sell a series of refineries and other assets as the company focuses on its core oil and gas exploration business.
Brazil's state-controlled Petrobras started publishing daily wholesale gasoline and diesel prices at each of the company's 37 points of sale, the latest step aimed at heading off a strike by independent truck drivers.
Brazil will hold an offshore oil deposit auction in October featuring blocks that were the object of a long-running dispute with state energy giant Petrobras. Reuters reports, citing Economy Minister Paulo Guedes, that participants in the auction will need to cough up a signing bonus of a total US$26.9 billion for the four blocks.
Brazilian state-run oil firm Petrobras hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference.
Brazil's Real and shares rose on Monday, recovering after declines last week, while the currencies of oil exporters such as the Mexican and Colombian pesos weakened as crude prices dipped.
Brazilian Economy Minister Paulo Guedes said he’ll clear up any confusion from President Jair Bolsonaro’s decision to halt a planned fuel-price hike by Petrobras.