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Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 03/01/2023, 03/17/2023, 03/29/2023 and 04/03/2023, informs that its Executive Board, based on the new strategic elements approved by the Board of Directors, has adopted the following decisions regarding the respective divestment processes that had not yet reached the stage of signature of the... Continue Reading →
(Bloomberg) – ExxonMobil Corp., which once planned to bet big on Argentina’s oil and gas riches, has put all of its shale assets in the country under review. Exxon is involved in six areas of Argentina’s heralded Vaca Muerta — Spanish for Dead Cow — formation in Patagonia. The company’s plans to ramp up development... Continue Reading →
(Reuters) - Argentina's last-ditch effort to secure International Monetary Fund cash with measures that will weaken the peso risks pushing triple-digit inflation even higher and angering voters just three months before national elections. Economists said steps unveiled on Monday by Economy Minister Sergio Massa, himself a presidential hopeful, were unlikely to dampen inflation that is already running... Continue Reading →
(Reuters) - U.S.-based oil major Chevron (CVX.N) will invest more than $500 million to develop the Trapial block in western Neuquen province, home to the massive Vaca Muerta shale basin, Argentina's economy ministry announced on Friday. The announcement followed a meeting between Economy Minister Sergio Massa and company officials, according to a ministry statement. The new spending... Continue Reading →
(Reuters) Russia's largest producer of liquefied natural gas (LNG) Novatek last year offered technology to build a plant to produce the gas from Argentina's Vaca Muerta field, a highly-placed source familiar with the proposal said, though the talks have since broken off. The source said that Novatek proposed to help implement Argentina's plans to build... Continue Reading →
(OE) Norwegian seismic data firm TGS on Tuesday announced an expansion of its multi-client 3D coverage in the Malvinas Basin offshore Argentina, called Malvinas 3D Phase III. TGS plans to acquire a ~7,500 square kilometer 3D seismic survey, and upon completion, TGS will have built a 3D library of 25,000 square kilometers in the Malvinas... Continue Reading →
(Reuters) - Argentina's Vaca Muerta shale formation could produce more than 1 million barrels per day (bpd) of crude oil by 2030, consultancy Rystad Energy said on Wednesday, but cautioned this relied on the country solving transport capacity bottlenecks. This could see the formation, the size of Belgium located in Argentina's vast Patagonian region, nearly... Continue Reading →
(Reuters) - Argentina's government will next week call for bids to reverse the flow of natural gas on a major pipeline designed to transport Vaca Muerta production to the north and center of the country, Economy Minister Sergio Massa said on Friday. Vaca Muerta is a massive shale formation in western Argentina seen as key... Continue Reading →
Vaca Muerta, one of the world’s largest oil and gas shale reservoirs and Argentina’s most critical asset in helping propel the country’s hydrocarbons output higher, ended the year with outstanding figures. Record production and impressive well performance advances were met by short-term takeaway constraints as many ambitious commitments to increase capacity are yet to be... Continue Reading →
Oil and gas producer Wintershall Dea swung to a loss last year, hit by significant impairments and losses related to Russia's war in Ukraine, it said on Thursday. Wintershall reported a group net loss of 4.8 billion euros ($5.1 billion), including 7 billion euros in one-off, non-cash losses related to its Russian upstream and associated midstream... Continue Reading →
Brazil Energy Insight 