(WO) Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. In Pemex’s first C-suite shift under the current administration, the Mexican producer named risk management chief Antonio Lopez Velarde its chief financial officer, replacing Alberto Velazquez Garcia, who will run a new... Continue Reading →
3R PETROLEUM ÓLEO E GÁS (“Company”) (B3: RRRP3), pursuant to the provisions of Articles 74 and 157, Paragraph 4 of Law 6.404/76 and the provisions of Brazilian Securities and Exchange Commission (“CVM”) Resolution No. 44, dated of August 23, 2021 and in complement of the material fact published by the Company on August 27, 2021,... Continue Reading →
OneSubsea made the first delivery of a Wet Christmas Tree for the Mero 2 project, operated by Petrobras in the Libra block, in the Santos Basin pre-salt. OneSubsea's contract in Mero involves the supply of equipment for subsea production systems, installation and commissioning and intervention services for the second phase of the field's development. “This... Continue Reading →
(Reuters) - Oil prices climbed on Friday after the producer group OPEC+ said it could review its production hike policy at short notice if oil demand collapsed due to a rising number of lockdowns, while Brent was on course for a sixth week of declines. Brent crude futures rose $1.91 cents, or 2.7%, to $71.58... Continue Reading →
Singapore state investor Temasek is working with its portfolio companies to help them become more green as advancing sustainability goals becomes the new normal, the firm's chief sustainability officer said on Thursday. Temasek, with a portfolio valued at S$381 billion ($278.81 billion) as of March, has committed more than S$2 billion this year to the... Continue Reading →
French oil major TotalEnergies said Friday it had started production from the CLOV Phase 2 in Angola, a project connected to the existing CLOV FPSO. Sitting approximately 140 kilometers from the Angolan coast, in water depths from 1,100 to 1,400 meters, the CLOV Phase 2 resources are estimated at around 55 million barrels of oil... Continue Reading →
Norwegian marine seismic data acquisition company PGS said Friday it was scheduled to start a significant 4D acquisition survey for Petrobras over the Roncador and Albacora Leste fields offshore Brazil in Q2 2022. The acquisition is expected to complete in Q3 2022. The contract was awarded earlier and is already included in PGS reported order... Continue Reading →
The national production of oil and natural gas in October totaled 3,606 MMboe/d (million barrels of oil equivalent per day), with 2,777 MMbbl/d (million barrels daily) of oil and 132 MMm3/d (million cubic meters) of natural gas. There was a 7.4% reduction in oil production compared to the previous month and 3.3% compared to October... Continue Reading →
(Reuters) - Argentine state energy firm YPF (YPFD.BA) is close to signing a loan deal with a multilateral lender which could cover part of its $400 million debt obligations next year, its chief financial officer said on Thursday, which will free up funds for investment. Alejandro Lew said the loan would inject funds to balance out repayments... Continue Reading →
(Reuters) - Oil prices are expected to overshoot $125 a barrel next year and $150 in 2023 due to capacity-led shortfalls in OPEC+ production, JP Morgan Global Equity Research said. "As the group's (OPEC+) real volume potential is discovered, this should drive a higher risk premium to oil prices," the bank said in a note... Continue Reading →
