Monday, October 14, 2019

Brazil News

Hammerfest LNG Ships 1000th LNG Cargo

Arctic Discoverer will carry cargo number 1000 from the Hammerfest LNG plant. (Photo: Silje Grytbakk / Equinor ASA)

Norwegian energy company Equinor reached a milestone at its Hammerfest LNG facility on Melkøya Island, “the Snøhvit plant”,  by loading the 1000th cargo of the chilled fuel.The cargo consists of 140 500 cubic metres of liquefied natural gas (LNG). Total sales value of all the LNG cargos since the field came on stream is in the range of NOK 130-150 billion.

Brazil Oil Bidding Points to Future Auction Success

© Ranimiro / Adobe Stock

Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find.Minister Bento Albuquerque said that Thursday's auction surpassed expectations, following the conclusion of bidding.Oil regulator ANP said that the auction would result in cumulative

BP Wins Offshore Oil Block in Brazil with $75 mln Bid

© marchello74 / Adobe Stock

BP PLC won the production and exploration rights for Brazil's offshore S-M-1500 block in the Santos Basin on Thursday, paying the government a signing bonus of roughly 308 million reais ($74.6 million).Relatively major blocks in the Santos Basin received no offers in the bidding round in Rio de Janeiro, although there was significant interest in the nearby Campos Basin.(Reporting by Gram Slattery, Marta Nogueira and

Shell Consortium, Petronas Win Oil Blocks Off Brazilian Coast

A consortium of Royal Dutch Shell Plc, Chevron Corp and Qatar Petroleum won oil exploration and production rights in the C-M-713 block off the coast of Brazil on Thursday, paying the government a signing bonus of roughly 551 million reais ($133 million).Shortly before, Petronas won a separate offshore block, C-M-661, with a signing bonus of roughly 1.116 billion reais.(Reporting by Gram Slattery, Marta Noguiera and R

Lithuania's KN Bids for LNG Terminal Operator in Brazil

Image: Klaipedos nafta

Lithuania's state-run oil and LNG terminal operator Klaipedos Nafta (Klaipedos Oil, KN) said on Wednesday it’s currently negotiating an operations and maintenance services agreement for a LNG terminal in Brazil with Brazils' Gas Natural Acu (GNA).Under such Agreement KN may commit to incorporate a company in Brazil (hereinafter – Brazilian  SPV) for the provision of such services.For that reason…

Keppel, Sembcorp Reach Deal with Embattled Brazil Firm

When the Settlement Agreement is completed, Keppel O&M will have full ownership over the four uncompleted rigs to explore various options to extract the best value from the assets.  Keppel O&M is also in discussions with Magni Partners on the terms to complete the construction of the drilling rigs Urca (pictured) and Frade, which are about 92% and 70% completed respectively. (Photo: Keppel)

Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras), filed for bankruptcy protection in 2016 after being engulfed…

Petrobras Says Revap Refinery Fire Under Control

Brazil’s oil company Petrobras: Revap oil refinery fire “now under control”. (Photo ©Adobe Stock / Celso Pupo)

Brazil’s state-controlled oil company Petrobras has said that a fire that broke out at its Revap refinery in the city of Sao Jose dos Campos Sunday afternoon is now under control and that this had been achieved without any casualties. The fire started in tanks storing materials used to produce asphalt and fuel. The company has not as yet…

Equinor to be ‘Offshore Wind Major’

Graph: Rystad Energy

The multi-billion capital investment by Equinor at its new Dogger Bank Offshore Wind Farm will see it rival its major oil and gas projects, according to Rystad Energy."The offshore wind project Dogger Bank in the UK North Sea will not only be Equinor’s largest project through 2026, it will also rank as the sixth largest offshore development project in the world during this period…

Non-Opec Supply Set to Surge

Graph: Rystad Energy

Liquid production growth for non-OPEC countries reached the highest rate on record in 2018, with a growth of almost 2.9 million barrels per day (bbl/d).For this year, the trend suggests that non-OPEC countries’ liquid production will reach above 2 million bbl/d once again, led by tight oil.Rystad Energy expects liquid production growth of non-OPEC countries will continue reaching record highs in 2020.

Brazil Sells Rights in Minor Oil Areas

© Donatas Dabravolskas / Adobe Stock

Brazil auctioned off the exploration rights to 33 minor onshore and offshore oil and gas blocks on Tuesday, in what authorities framed as a bid to boost the industry outside of the nation's core, offshore pre-salt play.At an event in downtown Rio de Janeiro, firms ranging from the Brazilian unit of Exxon Mobil Corp to domestic startups…

Brazil Oil Production Jumps 7% in July

(Photo: Petrobras)

Brazilian oil production increased to 2.77 million barrels per day (bpd) on average in July, up 7% from a year earlier, local oil and fuels regulator ANP said on Monday.Natural gas production also increased by 7% in July from the same month last year to 124 million cubic meters, ANP said.(Reporting by Marta Nogueira; Editing by Peter Cooney)

KNOT Signs Charter Contract with Total

Image:  Knutsen NYK Offshore Tankers (KNOT)

Knutsen NYK Offshore Tankers AS (KNOT), a NYK Group company, has concluded a time-charter contract for a maximum 15-year period starting from 2021 for a shuttle tanker with French oil and gas giant Total for its Brazilian activities.The contract aims to use a 152,000 DWT Suezmax tanker equipped with a dynamic-positioning system built in China by COSCO (Zhoushan) Shipyard Co., Ltd.

Brazil Leads FPSO Crude Production Capacity

Image: Petrobras

Brazil will also lead globally on crude production capacity through upcoming floating production storage and offloading (FPSO) vessels with 2,430 thousand barrels per day (mbd) between 2019 and 2025.A total of 20 planned and announced floating FPSOs are expected to be deployed offshore Brazil during the outlook period, the highest among countries globally…

U.S. To “Drown The World” In Oil

Image: Global Witness

A staggering 61% of the world’s new oil and gas production over the next decade is set to come from one country alone: the United States.According to a report by Global Witness, the sheer scale of this new production dwarfs that of every other country in the world and would spell disaster for the world’s ambitions to curb climate change – the effects of which we’re already witnessing through massive heat waves…

Oil Price Controls Subsea Market Growth

(Photo: Øyvind Hagen / Equinor)

The subsea market in 2019 will experience year-on-year growth for the first time since 2014. But the positive outlook is vulnerable to any significant decline in oil prices over the next few years, according to analyst Rystad Energy.“We expect the subsea market to thrive during the coming years, but market growth will be at risk if the oil price falls to $50 per barrel…

Wood Promotes Leonard in Americas Role

Paul Leonard (Photo: Wood)

Engineering firm Wood said it has appointed Paul Leonard as President of Operations Services in its Americas business to succeed Tim O’Leary, who is retiring from the company after a 20-year tenure.Wood’s Operations Services business complements the company’s capital projects businesses through the provision of operations, maintenance…

Petrobras Posts Highest-ever Quarterly Profit

Photo: Petrobras)

Brazilian state-run oil firm Petroleo Brasileiro SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales.In a securities filing, Petrobras, as the firm is commonly known, said second quarter net profit came to 18.87 billion reais ($4.92 billion).

Iberdrola Profits Up with Contribution from OWF

Ignacio Galán, CEO Photo: Iberdrola

Spanish public multinational utility company Iberdrola said that its gross operating profit (EBITDA) grew by 12.5% to €4.99 billion, due to the positive performances in the United States, Mexico and Brazil and the contribution of the Wikinger offshore wind farm, which amply offset lower contribution from the Networks and Renewables businesses…

Petrobras Reports Higher Q2 Production

(Photo: Petrobras)

Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade.In an early Friday securities filing, Petrobras, as the firm is known, said total second-quarter oil and gas production hit 2.633 million barrels per day of oil equivalent (boe)…

Total Plans $5 Bln in Asset Sales

(File photo: Malfere Damien / Total)

French energy giant Total will sell around $5 billion worth of assets, mostly from its upstream exploration and production business, as it seeks to focus on low breakeven projects that can weather weak oil prices, it said on Thursday.The company reported a 19% year-on-year drop in adjusted net profit to $2.9 billion in the second quarter…