Tag: Brazil

Oil production growth from the US, Brazil, Canada and Norway can keep the world well supplied through 2020, but more investment is needed in order to boost output after that, according to the International Energy Agency’s latest annual report on oil markets. Over the next three years, oil production from the US will account for 80% of the world’s demand growth, with Canada, Brazil and Norway covering the rest, according to Oil 2018, the IEA’s five-year market analysis and forecast. However the report says that despite falling costs, more investment will be necessary to ensure supply growth after 2020. The oil industry has not yet recovered from a record two-year drop in investment in 2015-2016, and the IEA sees little-to-no increase in upstream spending outside of the US in 2017 and 2018. Namely, in the US, global oil demand will increase by 6.9 mb/d by 2023 to 104.7 mb/d. China remains the leader demand growth, but strict policies to reduce air pollution will slow growth. The launch of electric buses and LNG trucks will affect consumption of transport fuels more than the electrification of passenger vehicles. Global oil production capacity is expected to increase by 6.4 mb/d to reach 107 mb/d by ...

China Merchants Port Holdings Company Limited completed acquisition of Paranaguá Container Terminal in Brazil, the biggest so far in Brazilian and Latin American port sector. On 22 February, the signing of the letter of intent closed the TCP transaction in the Federal Senate of Brazil. 

Petrobras's Chief Executive Pedro Parente informed about some “interesting discoveries” that the company is making in Campos Basin blocks, off Rio de Janeiro, where it is drilling to reach the pre-salt layer. These discoveries were made in fields being operated for years by the company, but Mr. Parente did not give any more information, as the findings are still being analyzed.

The vessel will have reduced exhaust emission levels, when operating in ‘green’ mode, with minimal visible smoke from being produced since the load is being picked-up by the batteries. Moreover, the noise level of the tug will be reduced.

Japanese companies Mitsui & Co, MOL, Marubeni Corporation and MES have agreed to invest in a long-term charter business currently promoted by their compatriot MODEC, to provide a FPSO for use in the Sepia Area off Brazil.

Namely the company signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The period in question has been extended to the third quarter of 2019, from the third quarter of 2018, with the contract including options until the third quarter of 2022.

As informed, the CVM, Brazilian equivalent to the US Securities and Exchange Commission, imposed accusations to eight people, including two ex-CEOs of the company, related to irregularities in the contracting process for three drill ships.

Petrobras and ExxonMobil will evaluate areas of common interest across all sectors of the oil and gas production value chain, including opportunities for collaboration in exploration, production, gas and chemicals both inside and outside Brazil.

The Brazilian Custom have now made obligatory the production of the original Bill of Lading by the receiver / consignee, along with other customs documentation, before delivery of the goods can be made from ports and terminals.

On 30 October 2017, the Directorate of Ports and Coasts in Brazil issued amendments regarding vessels laying‐up in Brazilian ports and terminals and provided the requirements for the concession of the Laid‐ Up Vessel Certificate.