 |
Louisiana Light • 2 days | 71.98 | -3.80 | -5.01% | ||
|
Bonny Light • 2 days | 75.03 | -3.52 | -4.48% | ||
|
Opec Basket • 2 days | 78.31 | -1.38 | -1.73% | ||
|
Mars US • 34 days | 79.71 | -2.05 | -2.51% | ||
|
Gasoline • 10 mins | 2.011 | -0.019 | -0.95% |
|
Bonny Light • 2 days | 75.03 | -3.52 | -4.48% | ||
|
Girassol • 2 days | 75.26 | -3.62 | -4.59% | ||
|
Opec Basket • 2 days | 78.31 | -1.38 | -1.73% |
|
Peace Sour • 13 hours | 53.13 | -2.94 | -5.24% | ||
|
Light Sour Blend • 13 hours | 56.98 | -2.94 | -4.91% | ||
|
Syncrude Sweet Premium • 13 hours | 61.58 | -2.94 | -4.56% | ||
|
Central Alberta • 13 hours | 55.13 | -2.94 | -5.06% |
|
Eagle Ford • 2 days | 65.86 | -3.66 | -5.26% | ||
|
Oklahoma Sweet • 2 days | 66.25 | -3.25 | -4.68% | ||
|
Kansas Common • 2 days | 59.75 | -2.75 | -4.40% | ||
|
Buena Vista • 3 days | 78.44 | -0.72 | -0.91% |
The Minerals That China, the EU, and the US Deem Critical to National Security
There is no universally accepted…
SEC Focused on Asset Retirement Obligations
Abandonment costs have now become…
Brazil To Hold First Subsalt Oil Auctions Since 2013
Brazil will hold two tenders for subsalt oil exploration this year in the first auctions of such offshore layers since 2013, Brazil’s oil secretary Marcio Felix told Reuters in an exclusive interview on Thursday.
The first subsalt auction is expected to be held in the first half of 2017 and will be for areas close to discoveries already under development, while a second auction slated for November will be for new exploration areas, Felix told Reuters.
According to the oil secretary, majors such as Royal Dutch Shell, Total and Statoil would also be attracted by the auctions, apart from Brazil’s state-held company Petrobras.
The fact that oil firms have slashed investments with the low oil prices would not be a problem in Brazil’s subsalt auctions, because the subsalt is the “Olympics” of offshore exploration, Felix said.
Brazil also plans to hold three oil exploration auctions in 2018, including one for subsalt, the secretary noted.
As Brazil is trying to attract oil majors to develop its offshore areas that have been under protectionist policies for much of the past decade, Brazil’s Energy Minister Fernando Coelho Filho said last week that the country expected to reap up to the equivalent of US$1.4 billion from three oil and gas exploration licensing rounds this year.
Related: Oil Tanks After EIA Reports Surprise Crude, Gasoline Build
The pre-salt exploration licensing round is expected to account for most of the expected revenues, with the government hoping to raise at least US$941 million (3 billion Brazilian reais), the minister noted. Brazil is working to slate the pre-salt licensing round for the first half of the year, compared to initial plans to hold it in the second half of 2017, he added.
Energy consultancy Wood Mackenzie said last week in its global upstream outlook for 2017 that Brazil’s pre-salt, together with the Permian Basin in the U.S., would be the hot oil plays for development this year, with both areas having materiality and one of the lowest development breakevens worldwide.
ADVERTISEMENT
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
- Saudi Arabia To Spend $50 Billion On Massive Solar Push
- $25 Trillion Investment Needed To Meet Future Oil Demand
- Can Saudi Arabia Survive With Oil Below $60?
Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
