Baker Hughes has announced a significant order from Petrobras for workover and plug and abandonment (P&A) services in pre-salt and post-salt fields offshore Brazil.
TAAG Angola Airlines, the state-owned airline of Angola, plans to enhance connectivity between Luanda and São Paulo, Brazil by increasing the weekly flights from four to six.
WTI Midland, the light sweet US grade, is being blended with heavy Brazilian grades to produce a cheaper Nigerian lookalike, which is undercutting the Nigerian crude grades in Europe and pushing down buying interest for Nigerian cargoes, multiple trading sources told S&P Global Commodity Insights.
Latin America’s largest economy Brazil has experienced a massive oil boom over the last decade and a half that saw the country become the top regional and leading global petroleum producer.
Leftist Lula de Silva’s victory in Brazil’s controversial October 2022 presidential election provoked apprehension that many of the investor-friendly oil industry reforms undertaken by previous administrations will be undone.
Petrobras shares fell at the beginning of the week as investors worry the policies of recently installed President Lula da Silva could erode the profitability of the state-owned oil major.
Latin America’s largest economy Brazil is experiencing a massive offshore energy boom which has seen the country overtake Venezuela and Mexico