Brazil’s BNDES will let go of its stake in the oil company as part of a divestments program designed to reallocate resources to more socially impactful projects.
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Oil firm has started the teaser phase for the sale of its entire stake in the offshore deep-water Campos Basin.
Figure was reached for the first time. Oil extraction was up by 7.8% from a year before, and natural gas by 9.5%.
Brazilian state-owned company announced a 3% reduction in diesel and gas prices, but the change might take a while to reach the consumer.
Company confirmed in a press release the decision to avoid trafficking in the region, which is a sea route for transporting oil and is at the Gulf’s entrance.
The process includes four units with ‘binding’ status, where investors can look into the risks involved in the deals and make their bids.
The Brazilian state-run company is the second biggest fuel distributor in Uruguay, and the biggest in liquid fertilizer.
Four oil blocks were on offer in the 6th Production Sharing Bidding Round. A consortium of Petrobras and China’s CNODC placed the winning bid for the Aram area, in the Santos Basin.
Two out of the four blocks offered were acquired at the largest oil industry auction ever held.
The Brazilian state-run oil company’s Institutional Relations director Roberto Ardenghy, who joined a seminar concurrent with president Jair Bolsonaro’s trip to the UAE, also said the company is looking for partners to bid in tenders with.
Output climbed 9.3% for oil and gas, and 3% for oil and gas products quarter-on-quarter.
The 6th Round of the Pre-Salt Production Sharing will run on November 7 with 17 companies able to compete, the highest number in this regimen’s auctions.
Volume reached 3.828 million barrels of oil equivalent per day in August, almost 3 million being in oil only.
The Brazilian oil company is looking for innovation-driven startups and small business with technological solutions in oil, gas and energy.
