Proved petroleum reserves of Brazilian oil and gas company Petrobras have remained relatively flat in 2017 at 9.75 billion barrels of oil equivalent (BBOE), following the U.S. Securities and Exchange Commission (SEC) criteria, the firm said Tuesday.
Brazil’s oil and gas firm Petrobras wants to join European oil majors and the world’s top oil producer, Saudi Aramco, as an effective member of the Oil and Gas Climate Initiative (OGCI), Kallanish Energy learns.
Pedro Parente, the CEO of Brazilian oil company, Petrobras, could leave his job in 2018 if the new government to be elected later this year goes back to interfering with the company’s businesses, Kallanish Energy learns.
Brazil’s Petrobras have finalized the transfer of rights and operatorship of some Brazilian oilfields to France’s Total on Monday, marking a milestone in the realization of their strategic alliance, the firms said.
Brazil’s power generation and transmission expansion has surpassed the energy ministry’s forecasts in 2017, reaching installation of 7,393 megawatts of new capacity and some 6,130 km of transmission lines.
Brazil’s Petrobras has started the binding phase for the sale of 90% equity interest in its wholly-owned subsidiary Transportadora Associada de Gas (TAG), a gas distributor unit, Kallanish Energy learns.
Oil prices are likely to continue climbing in 2018 due to OPEC-led production cuts and a growing global economy, industry executives and analysts say, but gains are expected to be kept in check by booming U.S. production.
Brazilian state-controlled oil company, Petrobras, said on Wednesday it agreed to pay $2.95 billion to settle the securities class action lawsuit filed by investors in the U.S. court of southern New York, Kallanish Energy reports.
Brazil awarded on Monday over 674.5 megawatts (MW) of renewable power supply contracts through its 25th renewables auction, at an average price of BRL 144.51 ($43.94) per megawatt hour (MWh), Kallanish Energy reports.