Petrobras CEO: Africa will be the main exploration region for Petrobras outside Brazil.
Petrobras wants to develop Africa as its primary region outside Brazil. The CEO of the state-run oil company said this in a broad interview on Thursday. Petrobras CEO Magda Chabriard said that Ivory Coast extended the "red-carpet" to Petrobras when it granted…
Petrobras has exclusive rights to explore offshore blocks in Ivory Coast
Petrobras, the state-owned oil company of Brazil, announced on Wednesday that it had won exclusive rights to negotiate for the purchase nine offshore exploration blocks in Ivory Coast. Petrobras stated in a filing that the government had conceded to the exclusive…
Wartsila believes flexibility is key to ethanol power generation in Brazil
Wartsila, a Finnish company, is betting on a more flexible way to generate electricity with ethanol in Brazil. Similar efforts by large firms failed a decade earlier. Wartsila announced in March a partnership with a power station in Recife in northeast Brazil…
Petrobras wins in Amazon drilling but licensing is in doubt
The Brazilian environmental agency Ibama announced a decision on Monday that will allow state-run Petrobras to move closer to drilling oil in a highly sought after offshore region. However, it also came with a warning for future permits. The documents seen…
Brazil's Petrobras to simulate emergency plan for Foz do Amazonas basin
The Brazilian Environmental Agency Ibama approved on Monday the state-run Petrobras concept for an emergency plan that would assist local fauna if there was an oil spillage in the Foz do Amazonas Basin. This move allows Petrobras a simulation of their plan.
Industry leaders claim that despite volatility, US Gulf oil production could reach 2.4 millions bpd.
Leaders in the oil and gas sector said that the U.S. Gulf of Mexico could continue to grow oil production despite geopolitical instability not seen for decades. Since last month, U.S. President Donald Trump’s global tariff announcements contributed to a drop in oil prices…
Petrobras reports slight decline in oil and gas production for the first quarter
Petrobras, the state-owned oil company in Brazil, reported Tuesday that it produced 2.77 million barrels equivalents of oil per day (boed), down 0.2% compared to a year ago. Petrobras said that its oil production in Brazil dropped by 1% on an annual basis, reaching 2.21 million barrels of oil per day (bpd).
Raoni, the indigenous leader of Brazil, says he opposes drilling for oil in Amazonia
Raoni Metuktire of the Kayapo tribe, an indigenous leader, said that Brazil should not explore for oil reserves in the Amazon because it could have a dangerous impact on the local communities. Raoni made his comments at Acampamento Terro Livre as the debate…
Brazil prepares a new oil auction amid trade war threats to budget, sources claim
Four people with knowledge of the situation said that Brazil is planning to auction off stakes in offshore oil fields this year as a way to increase revenue. The plan has gained momentum amid declining oil prices and increasing global trade uncertainty. Two…
Petrobras has completed the animal care center needed for offshore license
Petrobras, Brazil's state-run oil firm, has finished the work required to get an environmental permit in order to drill offshore. The company announced this on Saturday. The Animal Care Center in Oiapoque in Amapa State is designed to help animals in case of an oil spill.
Petrobras executive: 'The new discoveries of Petrobras are significant'
Sylvia dos Anjos, exploration and production director at Petrobras, said that the discoveries made this year by the Brazilian state-owned oil company Petrobras in the Campos Basin and Santos Field and the Buzios Field are "significant". Petrobras reported hydrocarbon discoveries at the Aram Block…
The deadline for Petrobras' deal with the vessel puts pressure on Foz do Amazonas
According to a government document, Petrobras must receive an environmental permit to drill in the Foz do Amazonas sensitive region before the end of April. Otherwise it will not have enough time to complete the contract for a drilling vessel in October. The document…
Petrobras animal center at Oiapoque will be ready for inspection by April
Documents seen by on Monday showed that the environmental agency Ibama should be able to inspect the veterinary center operated by Petrobras Brazil in the Amazon region in April. The center is designed to help animals in case of an oil spill. Petrobras has…
Colombia regulator: Licenses for Petrobras and Ecopetrol offshore projects will be ready by mid-2026
Orlando Velandia of Colombia's hydrocarbons regulatory agency said that by mid-2026 the Brazilian state-run Petrobras, and its Colombian equivalent Ecopetrol, could have all the licenses they need to move forward with a joint offshore project in Colombia. The…
Petrobras will commission four additional ships by 2026, bringing the total to 48.
Magda Chambriard, the Chief Executive of Petrobras, said that four new support vessels would be ordered by the company by 2026. This will bring its total number of ships to 48. Petrobras is bolstering its fleet in anticipation of a higher oil production offshore over the next few decades…
Staff of Brazil's Ibama recommend against Petrobras drilling Amazon region
Two sources with knowledge of the matter said that the technical staff at Brazil's environment agency Ibama recommended to the body that it deny Petrobras permission to drill in the environmentally sensitive Foz do Amazonas area. Rodrigo Agostinho, Ibama’s president, will make the final decision.
Petrobras will issue dividends in spite of a net loss of $2.8 Billion for the fourth quarter
Petrobras reported a net loss in the fourth quarter of 17 billion Reis ($2.8 billion), due to non-recurring incidents. However, it intends to distribute dividends. In a separate filing from the one containing its results, the company announced that it will distribute ordinary dividends of 9.1 billion reals.
Bolivia's YPFB and other operators will pump almost $704 mln in oil projects this Year
The Bolivian state oil company YPFB, along with other operators, will invest $703,7 million in this year's investment plan, according to the company, which noted that almost three quarters of the plan will be spent on exploration and production. According to a YPFB statement…
Petrobras plans to have the Equatorial Margin ready by March, say sources
Two sources said on Monday that Brazilian oil company Petrobras plans to have a veterinary clinic in the Amazon ready to treat animals in case of an oil spill. Petrobras has not yet met the Ibama environmental agency's main demand, which is the animal care center for the state of Amapa in northern Brazil.
Brazil's Lula will meet with the Environment Agency to discuss Petrobras' bid for drilling near the mouth of Amazon river
Brazil's president Luiz Inacio Lula Da Silva will meet with the environmental agency Ibama this week or next to discuss Petrobras bid to drill near the mouth the Amazon river for oil, he said to a local station on Wednesday. Lula, who defended Petrobras’ bid to explore the area…
