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Oil demand from China has been one of the few bright spots for a global petroleum industry severely impacted by a long-term global supply glut and the economic fallout from the COVID-19 pandemic. The world’s second-largest economy hunger for energy keeps growing despite the global COVID-19 pandemic and a resultant sharp decline in global economic... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it will rationalize its international presence in 2021, considering the three main oil markets in the world - Europe, North America and Asia. In this way, it will concentrate its commercial operations outside Brazil in the offices in Rotterdam, the Netherlands, Houston, United States, and Singapore. The initiative... Continue Reading →
Norway-based offshore vessel owner Solstad Offshore said Monday it has secured a contract extension for one of its vessels in Argentina. The contract extension is for the construction support vessel Normand Commander, with Bahia Grande LN S.A. Under the three-year extension, the vessel will now remain with Bahia Grande until October 2026. Solstad Offshore did... Continue Reading →
Norwegian oil and gas seismic data company TGS has returned to Argentina to complete the previously announced Malvinas 3D Multi-Client offshore survey, and has also announced two new surveys in Brazil. In Argentina, TGS has earlier this week started the Malvinas survey using the BGP Prospector vessel owned by China's BGP. The vessel will acquire approximately... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina today announced the successful testing of the Indico 2 appraisal well in the CPO-5 block (GeoPark non-operated, 30% WI1) in Colombia. The... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador reports its consolidated financial results for the three-month period ended September 30, 2020 (“Third Quarter” or “3Q2020”). A conference call to... Continue Reading →
Belgium-based shipowner Exmar has settled a dispute over the charter of the Tango FLNG with Argentinian energy firm YPF, that will see the FLNG charter terminated in exchange for a settlement fee. To remind, YPF in June sent a force majeure notice to Exmar, saying it was not able to pay for the charter of the... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced its operational update for the three-month period ended September 30, 2020 (“3Q2020”). All figures are expressed in US Dollars.... Continue Reading →
2020 set the stage for a profound transformation in the oil and gas industry. The oil and gas industry was already facing a challenging transition process as economies move toward a low-carbon future; however, surviving and prospering in a low-oil-price and high-risk environment is an even greater and more urgent challenge. Producers with relatively high-cost... Continue Reading →
To adjust and transform to cleaner sources of energy, the world’s largest oil and gas firms could sell or swap oil and gas assets of more than $100 billion, Rystad said. Rystad said on Tuesday that oil and gas majors were revising their long-term oil price and demand outlook and that they need to streamline... Continue Reading →
Brazil Energy Insight 