Talk Of Downgrade Looms As Lula Mulls Further Delay To Petrobras Capitalisation

Petrobras Set To Gain From Fuel Price Compromise

Industry / Brazil News that the government may cut fuel taxes to offset a rise in prices at the pump will be welcomed by Petrobras, whose refining margins have been squeezed by soaring crude prices.

Aggressive Exploration Strategy Pays Off With OGX Reserves Upgrade

Industry / Brazil OGX's ambitious offshore Brazil exploration campaign is paying off, with potential resources now put at 10.8bn boe. Steps towards proving up reserves at OGX's Campos Basin acreage could spark renewed interest...

Strong Guará Norte Flow Rates Boost Outlook For BG And Petrobras

Industry / Brazil Successful well testing at Guará Norte is a very good sign that the development of the project, scheduled to come onstream in 2013, is on track. The Guará, Lula and Iracema projects are central to BG's...

Statoil's Peregrino Takes Flight As Offshore Output Set To Soar

Industry / Brazil Statoil has started production at the first phase of its Peregrino heavy oil field offshore Brazil, putting the company on course to become Brazil's second-largest producer after national oil company Petrobras...

Greater Government Control Of Petrobras Likely After US$42.5bn Oil-For-Shares Deal

Industry / Brazil After months of negotiations, Brazil's state-run oil company Petróleo Brasileiro (Petrobras) has agreed to pay the Brazilian government US$8.51 per barrel (bbl) for the rights to 5bn bbl of subsalt oil...