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MercoPress, en Español

Montevideo, November 5th 2024 - 13:58 UTC

Tag: sub-salt oil deposits Brazil

  • Tuesday, February 21st 2017 - 10:58 UTC

    Petrobras exporting record volumes from sub-salt offshore oil fields

    Brazil’s sub-salt production rose to 1.26 million barrels per day (bpd) in December, equivalent to 46% of the country’s total output – up from 34% a year earlier.

    Rising output from Brazil’s sub-salt offshore oil fields is allowing Petrobras to export record volumes of oil and import less light crude for its refineries, a senior executive said. Cláudio Mastella, executive manager for refining and natural gas logistics, said the move is helping to reduce Petrobras’ operational and logistical costs because lighter oil is easier and cheaper to refine into products like gasoline and diesel.

  • Wednesday, November 30th 2016 - 09:31 UTC

    Temer signs bill that opens sub-salt oil deposits to private the sector

    With the new bill Petrobras has signaled its reluctance to take on the operator role for new sub-salt projects, and could end up selling stakes in sub-salt projects

    Brazilian president Michel Temer signed legislation on Tuesday which opens the way for oil companies other than state-controlled Petrobras to operate the coveted sub-salt acreage. The bill repeals a controversial 2010 rule that requires Petrobras to hold a minimum 30% operating stake in assets governed by production-sharing contracts, mainly sub-salt assets.