Estrangeiras arrematam a maioria dos blocos ofertados na 5º e última rodada de licitações do petróleo

Foreign Companies Acquire Most Blocks Offered in the 5th and Final Round of Oil Auctions

Written by Paulo Nogueira

Published on 28/09/2018 at 10:53

Updated on 28/09/2018 at 10:57

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Shell, Chevron, ExxonMobil, BP Energy, Ecopetrol, CNOOC Petroleum, Petrobras, and QPI Jointly Acquired 4 Blocks in the Pre-Salt of the Santos and Campos Basins

Today in Rio, the last round of 2018 for the pre-salt block auctions by ANP took place. Four blocks for production and exploration were offered, 3 in the Santos Basin and 1 in the Campos Basin, the government raised 6.8 billion reais at contract closing and, in the long term (royalties and taxes), up to 180 billion. The estimate is the generation of 400 thousand new jobs in the next 10 years. Here are the oil companies that raised funds and their percentages in each block:

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Saturn Block

Winner: Shell Consortium (50%) and Chevron (50%)
Oil Surplus Offered: 70.20%
Premium: 300.23%

Titan Block

Winner: ExxonMobil Consortium (64%) and QPI (36%)
Oil Surplus Offered: 23.49%
Premium: 146.48%

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Pau Brasil Block

Winner: BP Energy Consortium (50%), Ecopetrol (20%), CNOOC Petroleum (20%)
Oil Surplus Offered: 63.79%
Premium: 157.01%

Southwest Green Turtle Block

Winner: Petrobras
Oil Surplus Offered: 10.01%
Premium: 0

The week has already started with the highest barrel price in the last 4 years (US$ 81.87 brent) and it is expected that the price will continue to rise. Venezuela, for example, has reduced its production due to the crisis (from 3 million barrels/day to 1 million by next year) and Iran is suffering political retaliation from the U.S. government. All of this combines to create a competitive scenario for Brazilian pre-salt and positive expectations for the auctions.

Watch the Live Broadcast of the 5th Bidding Round Below

For experts, such as the president of the Brazilian Institute of Petroleum, José Firmo, even our current political uncertainty does not hinder foreign interest in our oil. “Brazil has always respected contract rules in the industry, regardless of the group in government,” he states. Twelve oil companies entered the competition, including Petrobras, which chose to bid on one of the blocks.

Foreign Companies Acquire Most Blocks Offered in the 5th and Final Round of Oil Auctions

Shell, Chevron, ExxonMobil, BP Energy, Ecopetrol, CNOOC Petroleum, Petrobras, and QPI Jointly Acquired 4 Blocks in the Pre-Salt of the Santos and Campos Basins

Saturn Block

Titan Block

Pau Brasil Block

Southwest Green Turtle Block

Watch the Live Broadcast of the 5th Bidding Round Below

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Foreign Companies Acquire Most Blocks Offered in the 5th and Final Round of Oil Auctions

Shell, Chevron, ExxonMobil, BP Energy, Ecopetrol, CNOOC Petroleum, Petrobras, and QPI Jointly Acquired 4 Blocks in the Pre-Salt of the Santos and Campos Basins

Saturn Block

Titan Block

Pau Brasil Block

Southwest Green Turtle Block

Watch the Live Broadcast of the 5th Bidding Round Below

Gaddafi built the world’s largest artificial river under the Sahara — it’s 4,000 km of giant pipes that pump 40,000-year-old fossil water to entire cities in Libya.

Discovery in Africa scares even scientists: a study published on April 23 reveals that the crust in Turkana has become so thin that it could pave the way for the continent’s division and the emergence of an ocean in the future, in a gigantic geological transformation.

Austria inaugurates Europe’s first high-speed railway outside China — trains travel at 250 km/h through 33 km tunnels in the Alps that took 27 years to drill

Japanese garbage collectors treat filthy trucks as if they were dealership cars, and the obsession with cleanliness is so absurd that they invented a washing machine that only exists for this type of vehicle.

An unmanned Russian ship has been drifting in the Mediterranean for 57 days with 60,000 tons of gas — the second towing attempt has just failed.

An engine that consumes 40% less gasoline than the average new car already exists and runs on 100% renewable fuel that costs only 10 cents more per liter at Repsol stations.

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Internal link resolution test

A cold front with up to 100 mm of rain advances across Brazil and will turn the long holiday weekend into winter weather with a sharp drop in temperature in the South and Southeast.

With the Strait of Hormuz closed and Brent above US$111, the West discovers that the crisis doesn’t end with oil: China dominates the refining of critical minerals, controls almost 90% of rare earths, and exposes the energy transition to a dependency without a quick solution.