Despite a more moderate-than-expected growth, U.S. oil supply is forecast to grow by 6% in 2018, compared to 2017 – an increase only smaller than the 11.16% expected for the Asia Pacific region, OPEC said Wednesday.
Shell Gas BV, Shell Brazil Holding BV and Integral Investments BV on Tuesday said they’ve signed a deal with Cosan Ltd. to execute an existing put option agreement, allowing Shell to sell its 16.8% interest in Companhia de Gas de São Paulo (Comgás).
Brazil’s oil regulator ANP has waived strict local content rules to the consortium developing the pre-salt Libra area, one of the largest oil discoveries in the world, following request of the developers, Kallanish Energy learns.
Amid fast-tracking reforms in the Brazilian energy sector, mines and energy minister Fernando Coelho Filho said late Monday the privatization of Petrobras is feasible in the long run, Kallanish Energy reports.
Brazil’s Petrobras and Norway’s Statoil are advancing a strategic partnership to optimize the recovery of mature offshore oil and gas fields in Brazil, by signing a new heads of agreement (HoA) last week, Kallanish Energy learns.
In about a year, Brazil will host new elections in which President Michel Temer could lose the seat he got through the impeachment of Dilma Rousseff, whom he was vice president to.
But before then, the Temer administration claims to be focused on recovering the economy of the cash-strapped, corruption-hit South American country through reforms in the energy sector, among others.
Regulatory changes to attract inward investment seem, so far, to be paying off, Kallanish Energy learns.
Brazil’s recent regulatory changes in the oil and gas sector seem to have already come to fruition, as the 14th bidding round helped the country to fetch a record BRL 3.8 billion ($1.19 billion) on Wednesday, Kallanish Energy reports.
Brazil raised a total of BRL 12.13 billion ($3.08 billion) in one of its largest auctions for electricity assets on Wednesday, selling concessions for four hydroelectric power plants in the Minas Gerais state previously operated by state-controlled utility Cemig.