Petrobras

Brazil has plans to create a competitive gas market. Equinor is operating two big projects that could offer a model for how a company not named Petrobras could market gas produced offshore.

The sole bidder for the Bahia liquefied natural gas regasification terminal in Brazil was turned away for noncompliance of tender rules.

A new report claims as many as 30 units could become available for new work by the end of next year.

The find kicks off Petrobras’ latest drilling campaign, which is focused primarily on offshore blocks holding subsalt potential that the company acquired at a series of bid rounds that started in 2017.

Since 2000, Brazilian Petrorecôncavo, which specializes in revitalizing mature onshore fields, has performed operations and project implementation services in most fields of the Remanso Cluster.

Petrobras will sell the Rabo Branco field, part of the BT-SEAL-13 concession, to Energizzi Energias.

Petrobras is pledging a 25% cut in carbon emissions by 2030, but that hasn’t stopped Chief Executive Officer Roberto Castello Branco from dismissing pledges by peers to completely neutralize their carbon footprints 2 decades later.

The cluster is the third largest in Brazil and the fourth largest in the Americas, with potential for further development. It is the third offer the company has made over the past five weeks.

Petrobras will sell its stakes in 27 onshore exploration and production concessions located in Espírito Santo, called the Cricaré Cluster, to Karavan SPE Cricaré SA, a specific-purpose ­entity (SPE), for $155 million.

Brazil’s national oil company estimated a reduction of 22 to 38% in capital expenditures in E&P from its 2020–2024 strategic plan and expects to spend $6 billion through 2024 to decommission offshore platforms and wells and underwater gas pipelines.