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Petrobras to start leasing Bahia LNG operations

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.

Companies selected for second round bids for Brazil’s refineries

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.

No one in Brazil appears keen on OPEC diet, Rystad says

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 largest-ever oil deposits auction falls flat

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.

Petrobras to test 2020 sulphur cap compliant fuel

Brazilian Petrobras informed that it will carry out tests starting in June, aiming to evaluate the production of 2020 sulphur cap compliant fuel. As the company said, it does not know the exact viscosity, but it expects it to be lower. During April, Petrobras produced its first set of 0.5% sulphur fuel oil, from its Isaac Sabba refinery in Manaus. The fuel had 0.34% sulphur content, viscosity of 323cst at 50°C and density of 932.7 kg/m3 at 15°C.

Petrobras conducts first transhipment operation at the Açu Petroleum terminal

Petrobras completed its first transhipment operation in a non-owned terminal, at the Açu Petróleo Petroleum Terminal (T-OIL) located in the Açu Port Complex in the north of the state of Rio de Janeiro. The transshipment operation was conducted between May 24 to 25, by a suezmax class vessel, with the mooring of the vessels Henrique Dias (exporter) and Brazil 2014 (reliever). 

First cargo from Yamal LNG shipped to Brazil

Russian gas producer Novatek announced that its wholly owned subsidiary, Novatek Gas and Power Asia Pte. Ltd., has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.

Petrobras makes oil discoveries in Campos Basin

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.

Petrobras to pay $2.95bn settlement over US corruption lawsuit

On Wednesday, Brazil’s state-run oil major Petrobras agreed to pay USD 2.95 billion, as a settlement to a US class action corruption lawsuit. The so-called “Car Wash” corruption concerned executives allegedly receiving bribes in return for awarding contracts to construction firms at inflated prices since 2014.

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