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2016-11-11 18:40:00

SHELL INVESTS IN BRAZIL $10 BLN

SHELL INVESTS IN BRAZIL $10 BLN

REUTERS wrote, Royal Dutch Shell Plc will invest $10 billion in Brazil over five years now that the country has increased opportunities for foreign companies in its oil industry, its chief executive officer said on Thursday.

Already the largest foreign investor in Brazil, Shell is particularly encouraged by recent legislation that increases the role of private oil companies in the tapping of vast off-shore oil deposits in the subsalt layer, Chief Executive Officer Ben van Beurden said.

"This was a good move by the government and it will open up opportunities for more players to invest in Brazil," Van Beurden told reporters after meeting with President Michel Temer.

Temer took office this year after the impeachment and removal of leftist Dilma Rousseff, whose Workers Party was opposed to reducing the central role of state-controlled oil company Petrobras in the subsalt region.

Shell is already a major subsalt player as a Petrobras partner in the massive Libra oil field, and acquired more assets in Brazil through its merger with rival BG Group.

New investments could be made by Shell in oil industry auctions planned next year, Van Beurden said, and the company will look at opportunities in distribution at a time that Petrobras is considering selling a big stake in its subsidiary BR Distribuidora.

"If there are opportunities, we will also look at the possibility of deepening our portfolio in the downstream area, he said.

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Earlier:

SHELL: 

SHELL & BP PRICES: $50 

SHELL INCOME $3 BLN 

SHELL SELLS CANADA: $1 BLN 

MAJORS DEBT'S RECORD 

SHELL PROFIT DOWN 72%

 

BRAZIL: 

BRAZIL SEEKS INVESTMENT 

STATOIL BUY BRAZIL: $2.5 BLN 

PETROBRAS SELLS $6.75 BLN 

PETROBRAS CUTS 12,000 JOBS 

PETROBRAS STRIKE & SLASH 30%

 

 

Tags: SHELL, OIL, GAS, BRAZIL

Chronicle:

SHELL INVESTS IN BRAZIL $10 BLN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

SHELL INVESTS IN BRAZIL $10 BLN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

SHELL INVESTS IN BRAZIL $10 BLN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

SHELL INVESTS IN BRAZIL $10 BLN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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