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Brazil to ease Petrobras pressure with offshore oil bill

Brazilian government may end Petrobras’ monopoly by opening way to foreign and private investment. Intended to pass this September, the bill recently presented to congress aims to attract big oil players and re-position Brazil’s oil industry. by Joe Leahy, Financial Times, July 05, 2015 Brazil’s congress is likely to pass a landmark bill that could ease…

Sinopec, Cnooc Said Readying Bids for Petrobras Field Stakes

Sinopec and Cnooc Ltd. are looking to buy Petrobras’ assets in the pre-salt offshore exploration  block. Other interested companies include Royal Dutch Shell Plc and Statoil ASA. by Cristiane Lucchesi, Bloomberg Business, July 01, 2015 Two Chinese companies that entered Brazil’s giant deep-water oilfields two years ago are now looking to increase their presence as state-run…

Petrobras sets new records for pre-salt production

Brazil’s Petrobras set a new record last month when it reached 726,000 bopd of pre-salt production, an increase of 1.6% compared to April. Experts say that production increased due to a higher number of scheduled maintenance stoppages and the start-up of the early production system in Atapu field. by World Oil, June 15, 2015 Petrobras’…

Petrobras To Help Pemex Explore For Oil

In 2000, Pemex and Petrobras started conversations around a possible collaboration, now 15 years later, such collaboration might come to pass. On late May, Brazilian President Rouseff expressed her interest and offered technical support to Pemex. Although Petrobras is in the middle of a big scandal, it possesses great deep water expertise and Pemex, with  the…

Investment into Mexico fell 49 percent last year, hastening need for oil and gas funding

Latin America and the Caribbean FDI fell 16% from 2013 to 2014, Mexico being the country with the largest decline on investments. While it is believed that the new energy reform will cause investment to “pick up” economy experts say the big decline is due to Mexico’s underperformance. by Bloomberg, May 27th, 2015 Chile bucked the…

Latin American Energy: Issues and Prospects

UT’s Jorge Piñon and other experts from the energy sector, were brought in to  The Wilson Center’s Regional and Global Energy series in Washington, D.C., to discuss challenges in Latin America. Keynotes and panels were formed by experts from public and private sector, each bringing up topics in different countries such as Brazil, Argentina, Mexico, Venezuela and the…

Examining China’s environmental and social impact in Latin America

China’s recent investments in Latin American and Caribbean are having a great impact in these countries’ environment. Exporting to Asia has consequences on their natural resources which will eventually run out. In Brazil, the cost is 4.3 cubic meters of water for every dollar of exports to China. As for social impact, one of the…

Oil prices might drop to $38 a barrel in short term

Expert Jorge Piñon shares his hypothesis on the future of the energy sector. He believes that in a short term, from today to September, oil price might get to $38 a barrel. This would be happening due to a combination of an existing overproduction of 1.5 millions barrels a day that can no longer continue…

China: Latin America’s Financier

China: Latin America’s Financier

 After Brazil’s Petrobras was caught in a corruption scandal, China came to the rescue. A loan of 3.5 billion is on the table along with a two-year cooperation agreement between both countries. This is not the first time for China invests in Latin America’s growth. In a period of 13 years, the country has invested…

Petrobras suppliers negotiate $3.5 billion Chinese credit deal

Brazil’s top crude producer is in the middle of a big corruption corruption scandal, but some countries seem to se past that. According to the Brazil-China Chamber of Commerce & Industry, both countries are negotiating a loan of 3.5 billions. China believes it is a good opportunity to invest in the country. by Peter Millard,…

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