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Discovery of new natural gas and light oil accumulation in Espírito Santo
Petróleo Brasileiro S.A. – Petrobras informs the discovery of a new light oil and natural gas accumulation in the Golfinho Concession (4-BRSA-1001-ESS).

date.png03 Jan 2012 07:15 | comments.png 0 Comments | tags.png brazil petrobras s-america upstream [ More ]

ConocoPhillips Announces Delayed Coking License
ConocoPhillips [NYSE:COP] today announced a license agreement with Petróleo Brasileiro S.A. (Petrobras) for a grassroots 31,450 barrel per day (BPD) delayed coking unit at its Pres. Getúlio Vargas Refinery (REPAR) in Araucaria, Paraná, Brazil. The terms of the agreement were not disclosed.

date.png23 Dec 2011 08:57 | comments.png 0 Comments | tags.png brazil conoco engineering petrobras refinery s-america [ More ]

The CCPR Consortium announces the conclusion of an important stage in the building of the new retarded coking unit
Delivery of the large-sized equipment relied on a complex transportation plan and marked the end of the stage that involves the suppliers’ participation

date.png21 Dec 2011 13:31 | comments.png 0 Comments | tags.png brazil engineering petrobras promon refinery s-america [ More ]

Six Companies Respond to First Stage RFPs for LNG Supply
The LNG Steering Committee has received six submissions in response to the First Stage Request for Proposal (RFP) for the supply of Liquefied Natural Gas (LNG) to Jamaica.
Submissions were received from:

date.png21 Dec 2011 08:25 | comments.png 0 Comments | tags.png jamaica lng s-america [ More ]

JGC Wins Oil Refinery Expansion Project in Venezuela
JGC Corporation has been awarded a contract for the detail engineering, procurement support and construction management services associated with constructing heavy crude oil upgrading facilities in the Puerto La Cruz oil refinery by PDVSA Petroleo, S.A. (PDVSA), Venezeula's state-run oil company. JGC will undertake the project as leader of a consortium including Chiyoda Corporation and INELECTRA, a Venezuelan engineering company.

date.png06 Dec 2011 12:44 | comments.png 0 Comments | tags.png jgc pdvsa refinery s-america venezuela [ More ]

Award of PMC Contract for Large Scale Heavy Oil Upgrading Project in Venezuela
Toyo Engineering Corporation (TOYO, CEO Yutaka Yamada) in consortium with a Venezuelan engineering company Y&V Ingeniería y Construcción, C.A. (Y&V) has been awarded a PMC (Project Management Consultant) contract for a heavy oil upgrading project of the Venezuelan national petroleum company Petróleos de Venezuela, S.A. (PDVSA) at its Puerto La Cruz Refinery in the State of Anzoátegui.

date.png02 Dec 2011 09:00 | comments.png 0 Comments | tags.png engineering s-america toyo venezuela [ More ]

Discovery of good quality oil in south Santos Basin
Petróleo Brasileiro S.A. – Petrobras announces that it has confirmed the presence of good quality oil in well 4-SPS-91 (4-BRSA-1002-SPS), in south Santos Basin, at an area known as Tiro and Sidon.

date.png24 Nov 2011 07:13 | comments.png 0 Comments | tags.png brazil petrobras presalt s-america upstream [ More ]

New discovery and Declaration of Commerciality in Carioca
Petróleo Brasileiro S.A. - Petrobras informs the results of the drilling of another well in Carioca area, located in Block BM-S-9 which confirms the potential of the exploration area.

date.png14 Nov 2011 09:08 | comments.png 0 Comments | tags.png bg-group brazil petrobras repsol s-america upstream [ More ]

Statement Regarding Sale of BP’s Interest in Pan-American Energy to Bridas Corporation
On 5 November 2011, BP received from Bridas Corporation a notice of termination of the agreement for their purchase of BP's 60 per cent interest in Pan American Energy LLC (PAE). As a result of Bridas Corporation’s decision and action, the share purchase agreement governing this transaction, originally agreed on 28 November 2010, has been terminated.

The closing of this transaction had been delayed because the Argentine anti-trust and Chinese regulatory approvals required to satisfy the conditions precedent to closing of the transaction had not been obtained by Bridas Corporation. Under the terms of the agreement, Bridas Corporation had exclusive responsibility for obtaining these approvals.

As a result of Bridas Corporation’s termination of the agreement, BP will now repay the deposit for the transaction of $3.53 billion received at the end of 2010. This deposit had been held by BP as short-term debt and will be repaid by 14 November 2011. This repayment will not affect BP's level of gearing, which stood at 19 per cent at the end of September.

PAE is a strong business. As a result of Bridas Corporation's decision to terminate, BP is no longer in discussions with them regarding this transaction. BP is happy to return to long term ownership of these valuable assets, given the considerable improvement in its own financial strength and circumstances, as well as the improved external trading environment.

date.png11 Nov 2011 17:49 | comments.png 0 Comments | tags.png bp bridas deals s-america [ More ]

Galp Energia announces a partnership with Sinopec to jointly develop its Brazilian upstream portfolio, valued at $12.5 billion
Galp Energia and Sinopec have reached an agreement for the capital increase in Galp Energia’s Brazilian subsidiary, Petrogal Brasil. This agreement confirms Galp Energia as one of the most relevant upstream players in Brazil and ensures the development of the Company’s assets in this country, while establishing a partnership with Sinopec, a world class energy group.

Under the terms of the agreement, Sinopec will subscribe a $4.8 billion capital increase in Petrogal Brasil, and other related operational subsidiaries, valuing the existing Galp Energia’s Brazilian assets at an enterprise value of $12.5 billion at closing.
Upon completion of the transaction, Galp Energia will retain 70% ownership, remaining the controlling shareholder of that company, and thus continuing to full consolidate those assets, while Sinopec will hold the remaining 30% interest and, through board representation, will have an adequate involvement in Petrogal Brasil.

In addition, Sinopec will make a shareholder loan to Petrogal Brasil in the estimated amount of $390 million, which will be used to reimburse 30% of the loans to Galp Energia of $1.3 billion.

date.png11 Nov 2011 17:36 | comments.png 0 Comments | tags.png brazil deals galp s-america sinopec upstream [ More ]
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