• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 7 days Energy Armageddon
  • 1 day "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 3 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 4 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 3 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 18 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 days Goldman Betting on Cryptocurrencies
  • 8 days Сryptocurrency predictions
  • 13 days Putin and Xi Bet on the Global South
Green Hydrogen Is Not A Silver Bullet Solution

Green Hydrogen Is Not A Silver Bullet Solution

While green hydrogen is often…

Donald Trump’s Claims About Filling The SPR Are Not True

Donald Trump’s Claims About Filling The SPR Are Not True

Former U.S. President Trump’s claim…

Petrobras to Hopes to Raise $5 Billion with Nigerian Asset Sale

Brazil’s state owned oil company, Petrobras, has begun its plan to divest itself of secondary assets and redirect investment to higher-return activities such as exploration and production as part of a five-year, $236.7 billion capital spending plan; the largest ever corporate investment plan in the world.

Petrobras will soon launch an auction to sell its interests in Nigerian oil fields, hoping to raise as much as $5 billion. Standard Chartered will run the auction process, which is set to begin within the next two months, with state controlled Asian companies expected to prove popular bidders as they try to add production assets to secure oil and natural gas supplies in the future.

Related article: Energy…from Cake!

The assets to be sold include an 8% stake in the offshore Agbami blocks, which began operation in 2008, produces 250,000 barrels a day, and holds estimated reserves of 900 million barrels; and a 20% stake in the offshore Akpo block, which was opened in 2009, produces 175,000 barrels a day of light condensate oil and 9 million cubic metres of gas, with estimated reserves of 620 million barrels of oil, and more than 28 billion cubic metres of gas.

By parting with assets such as those in Nigeria, Petrobras can focus on developing fields off the Brazilian coastline, where the deepwater, subsalt region, is estimated to contain tens of billions of barrels of high-quality oil.

Maria das Graças Foster, the Petrobras CEO, has set a goal of raising $9.9 billion through asset sales this year.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News