Bloomberg reported that the Royal Dutch Shell Plc’s oil production in Brazil dropped 35% in December at 48,499 barrels per day, compared to the previous year.
Articles Tagged "brazil"
The Wall Street Journal reported that Chevron Corp. (NYSE:CVX) paid a $17.3 million fine for irregularities related to a 2011 oil spill off the coast of Rio de Janeiro.
Reuters reported that Brazil-based Petroleo Brasileiro SA (NYSE:PBR), also known as Petrobras, said that its deepwater oil field south of Rio de Janeiro contains "good quality" crude that is a relatively light grade, meaning that it will be cheaper to refine than oil at Petrobras' other Brazilian operations.
Extension of the 4.5 billion barrel Franco field is confirmed by the latest discovery from Petrobras. The company is also looking to drive production growth with its prolific pre-salt prospects.
Although Chevron was fined $28 million and had its drilling rights in Brazil suspended for the recent offshore oil spill at their Frade field, some industry experts suggest the company will be able to avoid a long-term ban.
A brief look at 3 oil exploration hotspots, all of which have already produced multi-billion barrel finds of recoverable crude in the last few years, and that may still hold much more.
Canacol Energy Ltd. (CVE:CNE) announces a US$ 106 million capital budget in 2011 for exploration and development activities in Colombia, Guyana, and Brazil.
Brazilian state-controlled energy giant Petrobras declared that it has begun refining the first oil extracted from the ultra-deep Tupi field, one of the massive, “pre-salt” discoveries in the Santos Basin. For full story, click here
Inpex Corp. and Sojitz Corporation have declared that Frade Japão Petróleo Limitada, together with its partners Chevron and Brazil’s national oil company Petrobras, has started crude oil output from the Frade Field in Brazil on June 20, 2009. For full story, click here
U.S. oil major Chevron Corp. commenced crude oil output at its Frade prospect in Brazil, marking a significant milestone as foreign companies start to ramp up output in Latin America’s most-promising oil frontier. For full story, click here