The US government's export credit agency has authorized $3 billion in financing for Brazil, including 2 billion US dollars for the Brazilian government-managed oil company Petrobras.
Brazilian oil giant Petrobras has withdrawn from an offshore oil exploration block in Cuba's waters that it leased amid great fanfare in 2008, a Brazilian official said on Thursday, citing poor prospects.
Bolivia's state-owned oil company YPF Bolivianos said this week that it has signed oil and gas exploration agreements with Brazil's Petrobras and Spain's Repsol.
Latin America's biggest company, Brazilian state-managed oil giant Petrobras, on Friday said it raked in a record net profit last year of 20 billion US dollars. That figure for 2010 was 17% higher than its profit for 2009 company executives told a news conference in Rio de Janeiro.
China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be resumed after the passage of a reform of the country's oil law expected this year.
Repsol-YPF plans to start deepwater exploration off the coast of Tierra del Fuego in the Malvinas basin are expected to begin before the end of the first half of 2011, according to company’s sources.
Brazil’s proven oil reserves rose 10.65% in 2010 to nearly 14.25 billion barrels, the biggest annual increase in the past eight years, the ANP oil regulator announced this week. Total reserves, overwhelmingly offshore, which also include probable and possible reserves, soared 34.57% to 28.47 billion barrels.
Some of the world’s leading oil companies turned up at the Uruguay Round II informative session for operators interested in participating in the biding process for offshore exploration in Uruguay’s South Atlantic.
Brazil's government managed oil and gas giant Petrobras said on Friday that local shipyard Estaleiro Atlantico Sul (EAS) had won the tender to build seven drilling rigs in Brazil.
Based on market capitalization Brazilian government managed oil and gas company Petrobras ranked third worldwide according to the prestigious PFC Energy 50 list of the world's biggest energy companies.