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South America news Regional update
In order to show suppliers how to export, the EIC has formed a partnership with ABIMAQ (the Brazilian Machinery Association) to deliver an Oil and Gas Internationalisation Seminar. The first edition Clariss e Roch a was held in November in Sao Paulo and was opened by their President – José Velloso and Mr Martin Whalley – Director for Latin America investment from the UK government. Gathering almost 60 people, SBM’s supply chain manager, Thomas Pommared, presented on opportunities globally, followed by Elder Stringari, manager at WEG Global Oil & Gas, who presented their case story. The event also included presentations from UK and Brazilian governments on the support given to companies, the EIC about opportunities tracked on EICDataStream and RBNA Consult on international standards. This event will be held for the second time in Rio de Janeiro on 24 March and we are pleased to have Equinor as a confirmed speaker. If you are interest to know more about how to get involved in these events, please get in touch with our team.
Regional news
PDVSA in privatisation talks with foreign companies The Venezuelan national oil company is reportedly negotiating with Eni, Repsol and Rosneft a possible transfer of ownership of PDVSA-operated assets in the country. It is understood that the companies would restructure some PDVSA debts in exchange for assets. A major obstacle for the Maduro administration’s latest plan are the economic sanctions imposed by the United States on Venezuela, which forbid US companies from doing business in the South American country without a waiver. It is also unclear if Juan Guaidó, the self-proclaimed Venezuelan head of government and current leader of the country’s National Assembly, would agree to the proposal.
Forthcoming event Understanding Procurement in Petrobras
Thursday 12 March 2020 The course will focus on how to make the most of opportunities with Petrobras. Do you know that after the implementation of new legislation (law #13.303/2016) suppliers no longer have to wait to be invited to a bid? The objective is to provide clear and comprehensive information to help suppliers to do business with Petrobras. Several case studies will be presented to illustrate the do’s and don’ts when participating in bids organised by Petrobras. If you need any assistance or advice in the region or for more information about upcoming events, please contact: Clarisse Rocha, Head of Americas clarisse.rocha@the-eic.com
Solar PV to surpass 8GW in Brazil
The installed capacity of solar power plants in the country – including commercial-scale and distributed generation – is expected to surpass 8GW in 2020, according to Brazil’s solar power association Absolar. Investment this year is estimated at R$19.7bn (US$4.6bn), with distributed generation accounting for nearly R$16.4bn (US$3.8bn) of the total amount.
Guyana’s oil reserves larger then Mexico’s and Norway’s
Following the announcement by ExxonMobil that its Staborek Block has more than eight billion barrels of recoverable oil, Guyana has surpassed Mexico, Norway, Oman and several other countries in terms of oil reserves. In December 2019, the country started producing oil for the first time following the start-up of the 120,000b/d Liza Destiny FPSO.
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