Brazil’s crude oil major Petrobras, due to additional output from new production facilities, reported that it touched a company production record of 2,012,654 b/d on Mar. 4, surpassing by 12,420 b/d its previous high mark set on Dec. 25, 2007. For full story, click here
Brazil’s energy managed corporation Petrobras announced its plans to extract its first crude oil from the potentially huge offshore Tupi field find, below the salt layer of the Santos basin next May. President Lula da Silva, said: What will happen is very important. We’re going to extract the first barrels of oil at a depth [...]
The jump was all too clear. A surprise drop in U.S. oil inventories caused crude prices to jump 14 per cent on Thursday, in New York, powering a broad commodities rally that pushed copper and corn higher. The only noticeable drop was in gold, which closed lower for the first time in three days.
State-run Indian Oil Corp is planning to buy a sugar mill and set up a refinery in Brazil to produce ethanol. For full story, click here
State-run Indian Oil Corp is planning to buy a sugar mill and set up a refinery in Brazil to produce ethanol. For full story, click here
Brazil’s Petrobras on Friday announced a new offshore discovery of as much as 2 billion barrels of light crude in ultra-deep deposits about a mile below the ocean floor. For full story, click here
Brazil plans to invest some $400 bn in coming 10 years to develop new offshore fields that may contain as much as 80 billion barrels of oil. For full story, click here
Brazil’s state-run oil firm signed an agreement to explore for oil in deep Caribbean waters north of Cuba that officials in Havana say could contain 20 billion barrels of crude. For full story, click here
Japanese firm Modec reported that it had it won a contract with Petrobras to build a floating production and storage facility that will drill for oil off the coast of Brazil. Rick Hall, president of Modec International Inc., said: The contract represents a significant milestone for Modec in its efforts to partner with Petrobras “to start to [...]
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