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.
Brazil’s Petrobras and Norway’s Statoil signed on Monday a number of contracts related to their strategic partnership alliance, improving the Norwegian firm’s presence in the Brazilian oil and gas market, what it already considers core to its portfolio.
Statoil and Petrobras announced on Monday the Norwegian oil major will purchase a 25% stake in the Roncador oil and gas field in the Campos Basin, offshore Brazil, for up to $2.9 billion, Kallanish Energy reports.
Petrobras reported on Friday declines on both its domestic and international oil and gas production in November, but a new daily record at Brazil’s deep water flagship pre-salt exploration, operated by the state-controlled firm, Kallanish Energy learns.