December 16, 2017

Videocon plans $2.5 billion Brazil oil and gas investments – Moneycontrol.com

Videocon Industries   Ltd plans to invest USD 2.5 billion in oil and gas ventures in Brazil over the next two to three years, the consumer electronics-to-energy group’s chief said, as part of its strategy to boost the business. “Brazil oil finding is four times higher than the largest oil field in India … It’s just (the) beginning,” billionaire Venugopal Dhoot told Reuters at the sidelines of an industry event. A consortium that includes Videocon and Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras) earlier this year discovered new light crude oil in the Sergipe basin off Brazil’s northeast coast. Videocon,…

Brazil Finds More Oil, And It All Goes To The Gov’t

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The National Petroluem Agency (ANP) of Brazil found another “megareserve” in the Atlantic, this one off the coast of Sao Paulo, according to unnamed sources in Estado de São Paulo newspaper on Friday.  Sources said it is believed to big as large as the so-called Lula oil field, which holds between five and 8 billion barrels of oil. Although the discovery is made in the pre-salt fields that stretch from as far north as Espirito Santo, down to Rio, Sao Paulo, Parana and, finally, Santa Catarina states, it is in an area that is not regulated by the current pre-salt…

Large oil discovery in Brazil

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RIO DE JANEIRO – The offshore Carcara oil find has proven once again to be fruitful for Brazilian state-owned Petrobras, Portugal’s Galp and Brazilian oil companies QGEP Participações and Barra Energia. The companies confirmed on Thursday the discovery of light oil at the BM-S-8 block that measures 31 degrees on the American Petroleum Institute scale. The oil is trapped in an oil-bearing rock that measures at least 358 metres. This oil-bearing rock is connected with a previous discovery at Carcara in the same block. Petrobras operates the block with a 66-percent share. Galp owns 14 percent, while QGEP and Barra each…

10th Annual Global Local Content Summit

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Ministries and NOCs from Uganda, Ghana, Nigeria, Mozambique, Tanzania, Brazil, Argentina, Mexico, Trinidad and Tobago, Oman, Saudi Arabia, Kuwait and Sri Lanka are due to present their local content case studies at the 10th Annual Global Local Content Summit this September at the Pestana Chelsea Bridge Hotel, London, United Kingdom. World’s leading conference dedicated to the Local Content community to include speakers from 17 global nations and chairman from PROMINP. The conference, hosted by Oil & Gas IQ – a division of global events company IQPC – will be a unique opportunity for local content leaders to discuss the development,…