A consortium lead by oil trader Vitol Group will buy a 50% stake in an African oil and natural gas exploration business from Petroleo Brasileiro SA (Petrobras) for US$1.5 billion. Brazil’s state-controlled oil company Petrobras is following a $21 billion asset divestment programme that seeks to...
Brazil’s state-run oil firm Petrobras has revealed it will join the Oil and Gas Climate Initiative (OGCI) after it signed a letter of engagement to become a member of the global industry body. OGCI was launched in 2014 as a voluntary CEO-driven organisation which intends to...
ExxonMobil (NYSE:XOM) has purchased a total of 10 oil exploration blocks in Brazil during a record auction and confirmed it has added 22,000 acres to its US Permian Basin portfolio. The US multinational oil giant took six blocks in the promising pre-salt layered Campos Basin in...
Royal Dutch Shell (LSE: RDSA) has confirmed that production has started from a floating platform off the coast of Brazil, which can process up to 150,000 barrels of oil per day (bpd). Production at the facility, situated in waters more than a mile deep within the...
French energy firm Total (LSE:TTA) and Brazilian petroleum corporation Petrobras (BVMF:PETR4) have announced they will be partnering each other in a US$2.25 billion joint venture agreement. The deal involves Petrobus transferring rights of varying percentages in three concession areas across Brazil to Total. The South American company...