Petrobras is exercising its preferential right for the second and third bidding rounds for three areas in a move to maximize the value of its portfolio. Petrobras submitted its first formal statement to Brazil’s National Energy Policy…
A federal regional court in Brazil will allow the transfer of Petrobras' BM-S-8 exploration block, which includes the Carcará field, to Norwegian major Statoil, Petrobras announced today 2 May. 'With the favorable decision of the court…
Petrobras shared innovations and efficiency gains related to the Libra field at the Offshore Technology Conference (OTC) in Houston. Petrobras says collaboration between Libra area partners has produced a US$13/bbl reduction to the project's breakeven price…
Petróleo Brasileiro (Petrobras) has canceled its deal with Karoon Gas Australia for a stake sale in the Baúna and Tartaruga Verde oil fields offshore Brazil, however the Brazilian giant will continue its efforts to sell off its interest in the two fields…
Diamond Offshore has won its case in a Brazilian court against the state oil firm Petrobras regarding the early termination of the Ocean Valor semisubmersible. Image of the Ocean BlackHawk, from Diamond Offshore…
Petrobras and Total have signed deals worth US$2.2 billion that will see Total take stakes in a number of Brazilian offshore fields and an onshore plant. Petrobras has agreed to give Total 22.5% in the Iara concession area, containing the Sururu…
Petrobras has achieved two new production records from its pre-salt reservoirs: a 1.28 MMb/d monthly production record and the 1.34 MMb/d record achieved on 4 January. Combined oil and natural gas production operated by Petrobras also reached a new record at 1…
Australia’s Karoon Gas is going back to court to defend its deal with Petróleo Brasileiro (Petrobras) for stake in two fields, following a rejection to lift the injunction made by the Brazilian state-owned company in the federal court of Sergipe…
Total and Petrobras have agreed to work together on exploration and upstream technology, which will see Total become a partner on two pre-salt licenses in the Santos Basin. Image from Total. The licenses are the BMS-11 license…
Petrobras received nearly US$61 million ($204 million BRL) on Friday (18 November) in recovered funds stemming from the Lava Jato corruption scandal, with Petrobras President Pedro Parente expecting to win back a total of $1.6 billion ($5…
Australia’s Karoon Gas is in the middle of an injunction order by the Brazilian court regarding its deal with Petróleo Brasileiro (Petrobras) for the acquisition of two offshore fields, in which Petrobras intends to appeal. Image from Karoon…
Petrobras completed the first well in the Santos Basin’s Libra pre-salt field last week, with the anticipation of starting production next year, connected to the Pioneiro de Libra floating production and storage offloading (FPSO) unit. The West Carina…
After a thoroughly no good, very bad, couple of years for Brazil, the country is on the path to reform, and the first part starts with the country’s coveted pre-salt. Audrey Leon reports on what the opening means for the country and its state-owned oil company…
Brazil’s Petrobras and France’s Total have entered into a strategic alliance for upstream and downstream activities in Brazil, that will expand internationally. Image of Pouyanné, from Total. Petrobras…
Petroleo Brasileiro (Petrobras) is once again decreasing its capex by 25%, the company revealed as part of its 2017-2021 business and management plan today (20 September). Libra operations. Image from Petrobras…
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