The state-run oil company released its business plan for 2019-2023. The bulk of funds will go into exploration and production.
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Brazil’s National Agency for Petroleum (ANP) has authorized nine more enterprises to bid for oil and gas exploration and production in previously tendered fields or blocs that were given up on by the winning bidders.
The country is the leading exporter of natural gas in the world. The Qatari minister of Energy, Saad al Kaabi, said the goal is to ‘focus on the gas business.’
Oil and gas production averaged 3.34 million barrels of oil equivalent per day for the Brazilian state-run oil company in October.
The IMF advises Middle East and Central Asia countries to take urgent action to reduce debt as they face tightening global conditions.
Starting in 2019, the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) will offer scholarships in oil and gas-related studies for undergraduate and graduate (master’s and doctorate) students.
The company purchased 157,000 barrels per day in the first nine months of this year, up 34,000 from a year ago. Domestic demand picked up while local output diminished.
The emirate’s Supreme Oil Council approved ADNOC’s strategic plan, which provides for significant investment through 2023 and a hike in oil, gas and petrochemicals production.
Egypt’s Minister of Petroleum, Tarek El-Molla, announced that his country will hold the first bid round for oil and gas exploration in the Red Sea before the end of the year.
The Arab Chamber’s President, Rubens Hannun, and Advisor to the Presidency for Strategic Affairs, Tamer Mansour, visited the country and met with authorities and business owners to strengthen trade ties with Brazil.
Foreign sales of basic goods rose 2.7% in September, while sales of other items dropped 7%, according to Fundação Getulio Vargas (FGV).
The company’s president said at a conference that there are plans to increase current oil and gas output from 4.8 million bpd to 6.5 million bpd in the next eight years.
The aim of these investments throughout the next few years is to maintain and even expand the country’s spare oil production capacity.
Qatar’s state-owned company acquired the block of Titã, in the Santos basin, in the 5th Production Sharing Round in the Pre-Salt, in a consortium with ExxonMobil. The auction was held this Friday.
