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National production in November was 3,550 MMboe / d (million barrels of oil equivalent per day), of which 2,755 MMbbl / d (million barrels per day) of oil and 126 MMm3 / d (million m3 per day) of natural gas. Oil production decreased 4.1% compared to the previous month and 10.9% compared to November 2019.... Continue Reading →
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 →
ExxonMobil will start a new exploration campaign off the Brazilian coast. The company received the authorization from Ibama (Brazilian Environmental Institute) to drill wells in blocks BM-C-753, BM-C-789, BM-S-536, BM-S-647 and Titã, located in the Campos basins and Santos. The license granted by the environmental agency will last for four years. With the authorization in... Continue Reading →
Royal Dutch Shell has acquired a 50% operating stake in the Fuerte Sur, Purple Angel and COL-5 blocks, located in deep water off the Colombian Caribbean coast, from Colombia’s state-owned oil company, Ecopetrol. Shell’s (RDS.A) involvement is seen as a great opportunity for Colombia to develop its energy potential in a safe and efficient manner.... Continue Reading →
Exxon Mobil Corporation XOM recently reached a milestone, as the Liza-1 well in Stabroek block offshore Guyana met the original target of 120,000 barrels of oil per day (bpd) production at the site. A glitch in the re-injection process and equipment delays deferred the achievement of the milestone. Moreover, the coronavirus pandemic delayed the commissioning of... Continue Reading →
Mexico's energy ministry has approved a 60-day extension for talks between state oil company Pemex and a private consortium led by U.S.-based Talos Energy Inc over the future of a massive shared crude deposit, Talos chief executive Tim Duncan told Reuters on Tuesday. The energy ministry's previous deadline for a deal on an initial so-called... Continue Reading →
Petrobras will take over the operation of block FZA-M-59, in the Foz do Amazonas Basin, and will be the main operator responsible for the areas contracted in deep waters in the region in 2013, in the 11th round. The information is from the National Agency of Petroleum, Gas and Biofuels (ANP), which approved the change... Continue Reading →
Japan’s FPSO specialist MODEC in December 2020 obtained approval by the American Bureau of Shipping (ABS) for the new offshore repair method for hull structures of floating oil and gas production facilities such as floating production storage and offloading (FPSO) vessels as an original standard repair method. Diagram of new offshore repair method; Source: MODEC... Continue Reading →
Oil giant Shell has extended the contract for the lease of SBM Offshore's Espirito Santo FPSO in Brazil. SBM Offshore is also in talks with ExxonMobil to extend the FPSO terms in Guyana. The Dutch FPSO operator said Wednesday that the lease and operation contracts with Shell of the FPSO Espirito Santo would be extended... Continue Reading →
The company announced on Tuesday news of chances in the high command in Brazil. The executive Veronica Rezende Coelho will start as president of the company in Brazil as of February 1st. She will assume the role that is being performed on an interim basis by Leticia Andrade, who has been in command since the... Continue Reading →
Brazil Energy Insight 