• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 4 hours Starvation, horror in Venezuela
  • 8 mins The EU Loses The Principles On Which It Was Built
  • 44 mins Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 4 hours Crude Price going to $62.50
  • 4 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 20 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 13 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 24 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 1 day Correlation does not equal causation, but they do tend to tango on occasion
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 1 day Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 1 day California Solar Mandate Based on False Facts
  • 1 day Monsanto hit by $289 Million for cancerous weedkiller
Alt Text

Crackdown Looms As Maduro Survives Assassination Attempt

Maduro has survived an assassination…

Alt Text

A Long-Term Threat To Colombian Oil

Hours after the ninety-day ceasefire…

Alt Text

Maduro: Venezuela Could Stop Crude Oil Sales To U.S.

Embattled President Nicolas Maduro has…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

BRAZIL: Round 11 in Rio, Hot and Getting Hotter

Bottom Line: Rio’s 11th round of bidding for new concessions went down in an atmosphere of heavy competition, with Brazilian offshore acreage fast becoming some of the hottest oil and gas blocks out there thanks to some impressive pre-salt finds and developments.
 
Analysis: The National Petroleum Agency hosted the 11th round of oil concession bids in Rio de Janeiro, Brazil on 14 and 15 May. There was some very stiff competition for blocks in the Foz do Amazonas basin off the coast of Amapá state in northeastern Brazil. One deep-water concession here (FZA-M-57) garnered the single-highest bid of the event: $170.36 million from a joint BP, Total, and Petroleo Brasileiro SA proposal. Total will manage operations at the site. The final bill for bids by BP and Total was $306 million – just a fraction of the record $1.4 billion raised in this round of licensing. Brazil approved contracts for 142 of the 289 available blocks.

Licenses for blocks in the equatorial margin (including blocks in the Foz do Amazonas basin) were among the hottest. Investors were drawn to those sites because of rumored geographic similarities to fields off the coast of Ghana and the Ivory Coast where companies (including Total) report major oil discoveries. Total and Petrobras also partnered with Norway’s Statoil on a number of winning bids in the Foz do Amazonas basin near the border with French Guiana. ExxonMobil Corp. is returning to Brazil now as…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News