A joint operating agreement, usually referred to as an JOA, is a contract between two or more mining interests working together on a gas or oil lease to share resources and expertise. The contract governs a joint venture between those who sign the agreement, while each company retains its own identity. In comparison, the circulation of what readers call “The Trib” is now about 36,000 newspapers a day, according to verified reports. That`s down from about 61,000 in 2014 and about 200,000 copies printed at its peak. To embed the code, copy and paste it into your website or blog: In a speech delivered on 24 November 1992 on the occasion of her Jubilee of Rubies on the Throne, Queen Elizabeth II said: “1992 is not a year I can expect. of undiluted joy. In the words of one of my friendliest correspondents, it turned out to be annus horribilis. Annus horribilis. This is a nickname that oil and gas insiders could apply to the industry given the catastrophic impact of the Covid-19 pandemic (“pandemic”) and the accompanying recession that has led to a sharp drop in demand and prices.
In fact, in May, the price of crude oil briefly fell for a short time for the first time in history. This was followed by massive layoffs on a broad front and severely restricted investments in planned and ongoing projects. Several major oil companies have announced profound changes in their long-term focus on hydrocarbons towards greener energy. The Brazilian oil and gas industry has in no way been immune to the consequences of Covid-19. In a June 29 statement, the Brazilian Petroleum Institute (“IBP”) predicted that the negative effects of the pandemic would continue until the end of 2021. Moreover, the pandemic has brought Brazil back into recession after three years of modest recovery. Despite these adversities, Brazil`s oil and gas sector, led by a proactive National Petroleum Agency (“ANP”) has largely managed to focus on the industry`s long-term goals and benefit from some short-term regulatory flexibilities, discussed below. The long-term robustness of Brazil`s oil and gas sector, despite short-term obstacles, manifested itself in many ways in 2020.
In the following, we will focus in particular on five positive factors. Petrobras divestment program. In March 2015, Petrobras launched an aggressive divestment program aimed at divesting the Company`s non-core assets and using the resulting proceeds to fund its ambitious goals in its main area of focus – productive pre-salt ponds. . . .