BP Monday announced it has received final approval to complete the purchase of ten exploration and production blocks in Brazil from Devon Energy.
The regulatory approvals from the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) were the last required to conclude the agreement announced in March last year. It is expected formal completion of [...]

A new oil find has been made by Statoil immediately adjacent the Peregrino field in the Campos Basin offshore Brazil, Statoil announced. An exploration well drilled in the Peregrino South structure a few kilometres south of Peregrino has encountered oil in sandstones of the Carapebus geological formation.
A significant gross oil column of 130 metres has [...]

Canada based Tuscany International Drilling Inc. has entered into a letter of intent to acquire all of the issued and outstanding shares of a private Brazilian drilling and work-over company, together with seven drilling rigs and two work-over rigs located in Brazil from an affiliate of the Company, for an aggregate cash purchase price of [...]

The BG Group announced it is to invest $30 billion in Brazil in the next decade, as it moves to secure investments in the fast-growing reserves of crude and natural gas in Brazil. Speaking Monday, Reuters quoted BG Group chairman Robert Wilson, stating the firm was planning major investments to tap into growing oil and [...]

Trelleborg is to acquire a Brazilian business in the offshore oil and gas industry from a subsidiary of Veyance Technologies Inc. Through its Trelleborg Engineered Systems business area, the Swedish firm announced it has signed an agreement for the acquisition, expanding its offering in the Brazil oil and gas industry. The business focuses on specially [...]

GE announced it has acquired Wellstream Holdings Plc, taking control of the London Stock Exchange listed firm’s operations in Niterói, Brazil. GE, through its wholly-owned subsidiary, General Electric Austria GMBH, received valid acceptances for 98.63 per cent of Wellstream’s Shares.
GE had earlier announced on February 16, 2011, that it had commenced the compulsory acquisition of [...]

Petroleo Brasileiro, or Petrobras has agreed on a partnership that will see the state owned firm and its partners form a joint venture firm. Petrobras and five partners agreed to form create a firm that will invest an estimated $3.61 billion for the construction of a pipeline and waterway system to transport ethanol from Brazil’s [...]

Danish firm Maersk Oil has agreed to purchase Brazil’s SK do Brasil Ltda for an estimated $2.4 billion. The investment gives the firm access to three oil blocks owned by SK do Brasil in Latin America’s biggest economy. Maersk Oil is a unit of A.P. Moeller- Maersk A/S.
Currently, Maersk Oil is the biggest oil producer [...]

OGX Petroleo e Gas Participacoes SA, a Brazilian oil explorer controlled by billionaire Eike Batista, is to invest around $3 billion in exploration through 2013. The firm announced Wednesday its massive investment undertakings, geared at turning the independent driller into a major oil industry player in Latin America’s biggest economy.
In its exploration strategy, OGX is [...]

Royal Dutch Shell Plc has gained approval from Brazil’s antitrust regulatory authority for the acquisition of an airline-fuel business from Cosan SA Industria & Comercio, Bloomberg reported. The Hague-based company is seeking to acquire an airline- fuel business from Cosan Industria & Comercio.
Shell will be required to sell physical assets of Jacta Participacoes SA before [...]