Petroleum / Mining in Brazil
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BRAZIL, 2015/11/10
But condensate arriving from the United States could be subject to Brazil’s CIDE levy because it has been partially processed, they said. Petrobras’ move to start buying processed U.S. condensate will help output at its domestic refining network, but the purchases have exposed a wrinkle in Brazilian law that could allow the national-run company to import the light oil business-free, tax lawyers and traders said. Typically, condensate is considered a very light form of crude found in oil or natural gas wells and in raw form is not taxable in Brazil.
The concept of lightly processed condensate is peculiar to the United States. It arose last year as a way for U.S. producers to have it classified as a refined product to circumvent a decades-old ban on domestic crude exports. With U.S. condensates shipments presently hitting the export market, they are causing headaches for bookkeepers in the United States and Brazil.
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BRAZIL, 2015/11/10
The strike had spread by early Monday to 34 of Petrobras's rigs in the basin and 22 “are totally paralyzed,” the FUP, the major union in Brazil's oil industry, said in a statement.Oil workers staging a national strike in Brazil said on Monday they had stopped all operations at 22 of national-controlled oil giant Petrobras's 44 rigs in the Campos basin, an offshore area that accounts for about 80% of the country's oil output. Oil workers declared a strike on Sunday.
Seven other rigs affected by the strike are operating partially and the remaining five were handed over to emergency teams dispatched by the company to prevent a production shutdown.
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BRAZIL, 2015/08/05
”We are pleased to have reached a major milestone in our Peregrino operations,” says Pål Eitrheim, country manager of Statoil Brazil.
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BRAZIL, 2015/08/05
Anchored 240 kilometers off the coast of Rio de Janeiro, the Cidade de Itaguaí is approximately 2,220 meters above the ocean floor.
This is the second leased FPSO deployed on the Iracema development and will double the gross production capacity to 300 thousand barrels of oil per day and 16 million cubic meters of natural gas per day from the area. The FPSO will as well be able to store 1.6 million barrels of oil.
BG Group announced initial oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the group's discoveries in the Santos Basin, offshore Brazil. The FPSO will produce from the Iracema North area of the Lula field in the Petrobras-operated BM-S-11 block.
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ANGOLA, 2015/05/20
Brazilian telecommunications group Oi is reassessing the put option on the 25 % stake it holds in Angola’s Unitel, said the group’s chief executive, Bayard Gontijo, speaking to the Reuters news agency.
Gontijo said that the stake in the Angolan company remains on the inventory of African assets for sale, but added that the aboard was working on two possible scenarios, one of which is the sale and the other “the resolution of long-standing disputes … in a structure where the shareholder agreement is respected by the parties.”
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BRAZIL, 2013/12/01
The world’s major iron ore miner said it would pay Brazil 2.6bn by the end of the month, and an additional 7bn over the next 15 years in taxes allegedly owed for profits on its foreign operations. With this, the Rio de Janeiro-based company is ending a bitter dispute has hurt the company's share price, which has dropped 24% so far this year.
The settlement is likely to take a considerable bite out of Vale's 2013 earnings, which totaled 7.04 billion in the initial nine months of the year.
“The conditions proposed made a considerable reduction in the values possible, making the decision to adhere to the [tax-amnesty program] consistent with our goal of eliminating uncertainties and freeing us to concentrate our efforts on managing Vale's businesses,“ Chief Executive Murilo Ferreira said in a statement.
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BRAZIL, 2013/10/24
Petrobras took 40% of the field, 10 % points above the legal minimum. France\'s Total SA and Anglo-Dutch Royal Dutch Shell Plc will each have 20% while China National Petroleum Corp and China\'s CNOOC will each have 10%.
The companies will give 41.65% of their profit oil - or oil produced next initial investment costs are paid - to the Brazilian government under a new production-sharing arrangement. That minimum bid established by law was as well 41.65%.
The companies will have to pay 15bn Real (approx 7bn dollars) signing fee for the 35-year project in deep waters of the Atlantic Ocean.
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BRAZIL, 2013/07/16
The consortium that is awarded the right to develop the Libra prospect will likely need to drill for about four years next signing its production-sharing agreement, with commercial production likely to begin in the fifth year, ANP Director-General Magda Chambriard told a press conference in Rio de Janeiro.
The Libra deepwater oil field that Brazil plans to auction off Oct 21 will yield minimum output of 1 million barrels of crude per day, the National Petroleum Agency, ANP, said on Friday. That production would be equivalent to half of Brazil's current output of 2 million bpd.
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BRAZIL, 2013/03/11
Brazil's subsalt natural gas could be as expensive to produce as $9/MMBtu at the same tim e as it starts flowing in sizeable quantities, a leading oil industry executive said Tuesday. "It is gas that is difficult to produce, a long way from consumer centers, that needs treatment," said Roberto Ramos, CEO of Odebrecht Oil & Gas, the service company arm of Brazilian construction and engineering giant Odebrecht.
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BRAZIL, 2013/01/12
The Brazilian government has approved holding the 11th auction to grant 172 oil and gas blocs in the country, Mines and Energy Minister Edison Lobão said on Thursday in Brasilia.
