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Brazil’s oil industry expects a recovery in domestic demand in the next months driven by growing China imports, but the negative effects of COVID-19 are expected to last through the end of 2021, lobbying group IBP said in a note on Tuesday. Consumption could drop by more than 10%, and oil prices should range between... Continue Reading →
Guyana on Tuesday asked the World Court to confirm the demarcation of its land border with Venezuela, part of a long-running dispute between the South American neighbours with potential implications for offshore oil rights. Representatives of Guyana asked judges at the United Nations court, formally known as the International Court of Justice (ICJ), to confirm... Continue Reading →
Offshore and subsea services provider Oceaneering has secured a contract with Chevron's Angola subsidiary Cabinda Gulf Oil Company Limited (CABGOC) Under the three-year contract, Oceaneering's Asset Integrity division will provide inspection services onshore Cabinda, Angola, and offshore Angola on Blocks 0 and 14. The contract is scheduled to begin in Q2 2020. Continue reading
Malaysian oil company Petronas has hired Maersk Drilling's semi-submersible drilling rig Maersk Developer to drill in Suriname. The contract is for ar a one-well exploration campaign in Block 52 offshore Suriname. Maersk Drilling said Tuesday the contract was expected to start in Q3/Q4 2020, with an estimated duration of 75 days. Continue reading
June 29, 2020 Petróleo Brasileiro S.A. - Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in the Tartaruga field, located in shallow waters of the Sergipe-Alagoas Basin, state of Sergipe. The teaser, which includes key information about the opportunity, as well as the eligibility... Continue Reading →
Jun 30, 2020 Petrobras received an operating license from Ibama to drill in the SC-AP3 sector, in the Campos Basin, which comprises blocks C-M-210, C-M-277, C-M-344, C-M-346, C-M-411 and C-M-413. Acquired in the 14th ANP Bidding Round, the areas are operated by the state company (50%) in partnership with ExxonMobil (50%). The campaign foresees the... Continue Reading →
June 29, 2020 Petróleo Brasileiro S.A. – Petrobras reports that the platforms (P-74, P-75, P-76 and P-77) installed in the Búzios field, in the Santos Basin pre-salt, reached new production records on the 27th of this month, of 664,000 barrels of oil per day (bpd) and 822,000 barrels of oil equivalent per day (boed). The... Continue Reading →
Royal Dutch Shell (RDSa.L) said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook. The Anglo-Dutch company has already been preparing a major overhaul after CEO Ben van Beurden laid out plans in April to reduce Shell’s... Continue Reading →
PGS and ION Geophysical have announced an agreement to collaborate globally on 2D exploration data. Both companies have multiclient data libraries that together cover all the significant hydrocarbon provinces around the world. Continue reading
Jun 29, 2020 The oil unions are reacting hard and even with some indignation to the decision of the Petrobras Board of Directors, which, in early June, approved a change in the internal policy of the state-owned company, authorizing the increase of the appointments of outside professionals for the company's high command. The measure raises... Continue Reading →
Brazil Energy Insight 