Brazilian Proinde P&I Club informed about Brazil’s availability on low sulphur fuel, as Petrobras ensured its production is more than enough to supply domestic market. The Brazilian Maritime Authority accepts the use of scrubbers, as the alternative way of complying with the IMO 2020 sulphur cap.
According to BIMCO, the crude oil exports in Brazil hit a record for December 2019, marking a total amount of 8.7 million tonnes of crude oil exported. With China pushing Brazil to product more crude oil, country’s annual export volumes increased by 5% in comparison to 2018.
Petrobras informed on Monday, September 9 that it will start leasing its LNG regasification terminal, as well as an associated gas pipeline in the northeastern state of Bahia. The move is in line with an agreement made with Brazil’s antitrust regulator Cade in July to open up the Brazilian natural gas market to additional competition.
Although the climate concerns continue increasing and the UN leaders urge countries to immediately act and cut emissions of climate-altering gases, the Brazilian’s Energy Minister recently announced that Brazil plans to further expand its coastal oil drilling in the “pre-salt” oil and gas area.
In the second round of bidding for four of its refineries, Petrobras has allegedly selected four groups of companies. In fact, Reuter reports that the Chinese Sinopec, Abu Dhabi’s Mubadala Investment and the Brazilian companies Ultrapar Participações SA (UGPA3.SA) and Raizen have been chosen to go through to the next phase.
In case Brazil joins OPEC (Organization of the Petroleum Exporting Countries), OPEC would be the clear winner and Brazil the loser by a long shot, energy research firm Rystad Energy said commenting a recent statement by Brazil’s president Jair Bolsonaro that he would like to see Brazil join OPEC.
Brazil’s Petrobras is expected to become the world’s largest oil producer by 2030, as it gained full control of more than eight billion barrels of oil in the Buzios field, where a sixth floater being planned, according to Rystad Energy’s latest data and forecasts.
The largest-ever oil deposits auction of Brazil flopped, as state-controlled Petroleo Brasileiro SA, Petrobras, did most of the bidding while other major oil companies stayed away. Petrobras together with China’s Cnooc Ltd. and China National Oil & Gas Exploration & Development Co. submitted the winning bid for the prize of the auction, the giant Buzios field. Also, Petrobras was the only bidder for the Itapu block, while other oil majors, including Exxon Mobil Corp. didn’t make any bids, also Sepia and Atapu, received no bids.
Brazil continues to drive global deployment of floating production storage and offloading vessels (FPSOs), with a total of 21 planned and announced FPSOs during the outlook period 2019 to 2025, according to data and analytics firm GlobalData.
Brazilian top court ordered the state-run oil company, Petrobras, to refuel the two Iranian grain vessels that have been stuck on the Brazilian coast because of the imposed US sanctions. Chief Justice, Dias Toffoli, changed a lower court ruling that enabled Petrobras, to refrain from fueling the vessels. Thus, the oil company is now obliged to fuel the Iranian vessels.
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