A decision by Petrobras not to invest in drilling new wells has derailed Chevron Corp's plan to resume exploration in a Brazilian offshore field, people familiar with the matter said.Chevron, which operates the field with a 52 percent stake…
Brazil's Petroleo Brasileiro SA will sell its 50 percent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53 billion, the latest step in the state-controlled oil company's debt reduction drive…
General Electric Co's unit Baker Hughes is preparing an offer for a production-sharing deal with Brazil's Petrobras, a Baker Hughes executive said on Tuesday, as the state-run oil company seeks creative ways to boost output from mature fields…
Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said.Petrobras' 2019-2023 business plan, set to be released in December…
Petróleo Brasileiro SA will pay an $853.2 million fine to settle U.S. criminal charges the Brazilian state-run oil company bribed politicians and then sought to conceal the payments, the Justice Department said on Thursday.The settlement with U…
French oil major Total and Brazilian national Petrobras have finalized the US$1.95 billion transfer of interests in the pre-salt Santos Basin from Petrobras to Total. The companies called the move a “decisive milestone” in a strategic alliance…
Petrobras has released its new 2018-2022 business plan, in which the Brazilian giant has promised to maintain about the same level of investments in exploration and production (E&P) as it listed in last year's plan. Photo from OE/Audrey Leon…
Petrobras and ExxonMobil have signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities. The memorandum of understanding was signed in Rio de Janeiro today by Pedro Parente…
Norway's Statoil is set to triple its production in Brazil after agreeing to acquire a 25% stake in the Roncador oil field in Brazil's Campos Basin from Petrobras. Statoil CEO Eldar Sætre (left) and Petrobras…
Petrobras has declared commerciality at the Libra Northwest field, formally renaming it Mero, following a vote amongst its workforce, the Brazilian operator announced on 30 November. Pioneiro de Libra FPSO…
Petrobras and its partners have achieved first oil from the mega pre-salt development Libra, the operator announced today (27 November). Libra is in the ultra-deep waters of the Santos Basin, 180km offshore Rio de Janeiro, Brazil. The…
Petrobras and BP have signed a letter of intent (LOI) to jointly identify and evaluate business opportunities involving assets or ventures in Brazil and elsewhere, which include cooperation on upstream, LNG and downstream, with the purpose of developing a potential strategic alliance…
An injunction stopping Petrobras selling 22.5% of its stake in the Iara area and transfering 35% stake in the Lapa field, both offshore Brazil, to Total has been lifted. The sale and transfer were part of a Strategic Alliance agreement signed with Total in March this year…
Brazil held its 2nd and 3rd production sharing rounds concerning pre-salt areas today (27 October) where Shell and Petrobras were early winners. Shell will participate in three blocks, and operate two, while Petrobras will serve as operator for three blocks…
Shell and Petrobras signed a five-year memorandum of understanding (MoU) last week to establish a long-term mutual collaboration in developing pre-salt fields in Brazil that will focus on sharing technical and cost-efficient solutions. Libra…
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