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Brazil looks to solve its energy security travails
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
Israel’s gas performance chafes against narrow export horizons
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
Brazil rides a production wave
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
Hydrocarbon Processing Refining Databook 2025: Americas
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
Latin America’s evolving crude outlook
New supply from Argentina, Brazil and Guyana is rich in middle distillates, but optimism in terms of volume growth remains tempered by regulatory and technical risks as well as price volatility
Brazil awaits contentious Equatorial Margin call
Political rancour is rising as politicians appeal for environmental licence to explore the mouth of the Amazon
Brazil seeks greater oil market influence
Despite environmental criticism, President Lula sees opportunity to build bridges with OPEC+ allies
Brazilian upstream enjoys bumper year
Soaring pre-salt production sees Latin America’s largest country pull away from the local competition
Optimism despite setbacks in NL offshore
The province’s government remains positive about the future of its offshore industry despite recent difficulties
Global offshore market is on the upswing
Contractors set for multi-year recovery amid continually improving economics and efficiencies
Registered companies largely exited stage left
Brazil Offshore
Charles Waine
11 October 2021
Follow @PetroleumEcon
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Brazil suffers acreage sale setback

Bidding round deemed a disappointment after most operators steer clear

The bruising economic and financial toll of the pandemic may have started to ease, but licensing rounds are still feeling the effects. Brazil’s latest offshore offering—the 17th bidding round—failed to attract more than two bidders, raising just BRL$37mn ($6.7mn) from five blocks. Four basins were available to the nine registered companies: Chevron, Shell, TotalEnergies, Brazilian NOC Petrobras, Colombian state firm Ecopetrol, US independent Murphy Oil, Australian firm Karoon, Germany’s Wintershall and Brazilian independent 3R Petroleum. But despite this varied slate of IOCs and NOCs, only the pre-salt Santos basin attracted winning bids. Shell took a stake in five blocks, one in consortium

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