Brazil’s state-run oil company Petrobras said on May 21 its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion.
But the deal remains subject to governmental agreement.
Approval depends on the publication of a Ministry of Mines and Energy decree that does not violate the rights and conditions from the contract Petrobras has already negotiated, the company said in a statement.
2023-08-11 - Home to the world’s seventh-largest natural gas reserves, the OPEC member has a massive flaring problem which, if resolved, could allow it to monetize its onshore associated gas production.
2023-07-12 - Digitization, electrification and refined chemistry shape the future of hydraulic fracturing.
2023-07-31 - The UK is committing to future North Sea licenses and announced new support for two CCS clusters.
2023-08-28 - The deepwater Ivory Coast field holds an estimated 2.5 Bbbl and 3.3 Tcf of reserves.
2023-09-05 - CEO Bill Way has shifted Southwestern Energy’s course from Fayetteville founder to dual-basin natural gas powerhouse. Now the LNG sector’s top supplier aims to establish itself as the leading natural gas company in the U.S. with decades of inventory in the Haynesville Shale and Appalachian Basin.