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Oil & Gas / Perspectives

Reevaluting Brazil's attractiveness

José Luis Villanueva

Director, corporate ratings
Fitch Ratings


Brazil has been the Latin American darling of large international oil companies. Reforms in the late-nineties made the country attractive for investment, and its massive oil discoveries have since generated a flurry of interest. That's why it was unsettling when Brazil announced legislation that would change the current concession regime to a production-sharing agreement (PSA) scheme in which Petrobras operated every field in the pre-salt layers as well as other strategic areas with a minim

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Petrolifera faces challenges, looks ahead


Richard Gusella

Executive chairman
Petrolifera

November 13, 2009

er four initial years of success in Latin America, Canadian oil junior Petrolifera has had a difficult year including the suspension of its La Pinta well in Colombia and the failure to sell is Argentine holdings. BNamericas spoke to the company's exec more No permission

Still time to break into the Colombia E&P


Steve Bell

CEO
Remora Energy

November 06, 2009

n oil company Remora Energy was formed with capital from private equity firm First Reserve and US oil company Nabors Industries, it surveyed the world for where to begin operations. The company isolated three candidate countries and chose to pursue Colombi more No permission

Weekly Wrap|Perspectives

Published: Friday, November 20, 2009

Brazil continued to see a flurry of new activity throughout the week, even though federal oil company Petrobras said its third quarter profits declined 26% from the same period last year to 7.3bn reais (US$4.2bn).

The drop was mostly attributed to lower crude prices. Net revenue for the quarter slid 20% to 47.9bn reais year-on-year but rose from 44.6bn reais in Q2, driven by a 15% increase in oil prices compared to the second quarter.

Capex spending in the first nine months of the year totaled 50.7bn reais (US$29.5bn), 49% more than what the company invested in the same period last year, Petrobras' CFO Almir Barbassa said during a conference call.

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Coming Up

  • November  26, 2009

    Thanksgiving Day, US markets closed. - Regional

  • November  27, 2009

    Trinidad & Tobago's state oil company Petrotrin launched an international bidding process to provide marine vessel services for its oil and gas operations in the Soldado field. Applications are due by November 27. - Trinidad & Tobago

  • November  29, 2009

    Presidential elections. - Honduras

  • November  29, 2009

    Presidential run-off election. - Uruguay

  • November  30, 2009

    Deadline to comment on the proposed 2010 action plan released by Colombia's energy and gas regulator CREG. - Colombia