According to IEA’s report from last Friday, fifteen years ago, forecasts of peak supply were all the rage, with production from non-OPEC countries supposed to have started declining by now. In fact, production has surged, led by the U.S. shale revolution, and supported by big increases in Brazil, […]
Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: Now it’s home runs or bust. Exxon Mobil Corp. and Royal Dutch Shell Plc, the world’s two biggest oil companies, have put a slew of assets in the Gulf up for sale in […]
French utility Engie SA and a Canadian pension fund plan to offer as much as $9 billion (34 billion reals) for Petrobras’s natural gas pipeline network, potentially a $1 billion boost from their initial bid, according to people with knowledge of the matter. Petroleo Brasileiro SA is now finalizing terms with […]
Brazilian oil company Petrobras is abandoning the Camarão Norte discovery located south of the Manati field offshore Brazil. The Manati field is operated by Petrobras and QGEP is one of its partners. QGEP informed on Thursday that the Consortium of Block BCAM-40 has begun the relinquishment process with the […]
Oil prices have been creeping upwards for more than a year, quietly gaining ground as emerging-market investors fretted about trade and the end of cheap money. But now that crude is near the highest in four years, it’s suddenly a hot topic. For energy importers, the squeeze in […]
Nationalistic and free market advisers to Brazil’s right-wing presidential frontrunner are deeply split about the future of state-run oil company Petroleo Brasileiro, foreshadowing a showdown over divestments and fuel subsidies. Read more
Offshore drillers Ensco and Rowan earlier this week announced they would merge to create an offshore drilling company with the broadest geographic presence of any offshore driller in the market. Norwegian oil and gas intelligence firm Rystad Energy agrees. In a comment following the Ensco-Rowan merger announcement, Rystad labeled […]
10/1/18 Petrobras is expected to launch the tender to contract Itapu’s FPSO in the Santos Basin pre-salt in 2018. With the first oil planned for 2021, the platform will have the capacity to produce 120,000 barrels of oil per day. Sources believe that Petrobras may choose, as an […]
10/11/18 Phoenix submitted to the ANP the declaration of commerciality of the Northeastern Periquito field, a result of discovery in block POT-T-744, in the Potiguar Basin. In addition to the 744, Phoenix has another exploratory concession, in block POT-T-743. The areas were acquired in Round 13 by UTC […]
October 11, 2018 Fueled by the oil and gas industry, the state of Rio de Janeiro increased its exports by 24% (US $ 19.1 billion) and its imports by 125% (US $ 16.7 billion) from January to August this year to the same period last year. The main […]
