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Aug 18 (Reuters) - State-run oil firm Petrobras is worried about an upcoming change in Brazil's reference oil price that determines some taxes and royalties drillers pay, as it could weaken the economic viability of projects in offshore post-salt fields and in its onshore business, CEO Magda Chambriard said on Monday. Chambriard added that oil in... Continue Reading →
Aug.18 (oilprice.com) Brazil’s oil and gas regulator ANP has approved an 18-month extension of the exploration period for the Aram block in the Santos Basin pre-salt, pushing the deadline for Petrobras and China’s CNOOC to meet their commitments to June 30, 2029, according to BNamericas. The move gives the consortium more time to advance drilling in... Continue Reading →
(Reuters) - A South African court has rescinded an environmental authorization granted to TotalEnergies and its joint venture partner Shell to explore for oil in a block off the Cape coast, a court judgment seen by Reuters showed. However, the court said TotalEnergies should be given a chance to rectify deficiencies identified, including a failure to properly... Continue Reading →
AUG.13 (Offshore Technology) Colombia's state oil company Ecopetrol, has reported a 46% decrease in net profit for the second quarter (Q2) due to declining global oil prices and slight production decreases. The company's net profit fell to approximately $450m (1.81trn pesos), down from the previous year's equivalent of $840m, with total sales also decreasing by... Continue Reading →
Aug.13 (PN) Petrobras appears closer than ever to obtaining the long-awaited environmental license to drill in the promising Foz do Amazonas basin, off the coast of Amapá, within the so-called Equatorial Margin. Technicians from the company and the Brazilian Institute of the Environment and Renewable Natural Resources (IBAMA) this week finalized the details for the... Continue Reading →
Aug 12 (Reuters) - Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the U.S. energy major finds reserves in a large deepwater area it was awarded on Tuesday to explore for oil and gas in the Caribbean country, Energy Minister Roodal Moonilal said. Moonilal was speaking at an event... Continue Reading →
Aug. 11 (oilprice.com) Brazil’s state-controlled oil giant Petrobras sneezed at the end of last week, and the domestic stock market caught a cold. Despite returning to a profit for the second quarter of the year, Petrobras dashed hopes of an extraordinary dividend for this year amid lower oil prices and higher investments into production expansion.... Continue Reading →
Aug. 7 (oilnow.gy) The Noble Valiant has been added as the second drillship for TotalEnergies’ offshore Suriname campaign, the company announced in its latest fleet status report. The vessel will support development drilling in Block 58, where the French major and APA Corporation have sanctioned the GranMorgu project. Built in 2014, the Noble Valiant is capable of... Continue Reading →
Aug. 6 (oilnow.gy) Guyana has emerged as the most active location for Noble Corporation’s floater rigs, with four high-specification drillships operating exclusively in the ExxonMobil-operated Stabroek Block. According to Noble’s latest fleet status report, the Sam Croft, Bob Douglas, Tom Madden, and Don Taylor are contracted through August 2028, accounting for the densest deployment of floaters in the company’s... Continue Reading →
Aug 5 (oilprice.com) Malaysia’s Petronas is looking for buyers for its 50% stake in the Tartaruga Verde field in Brazil, eyeing proceeds of up to $1 billion, Bloomberg has reported, citing unnamed sources. The Malaysian major bought the stake in 2019 from Petrobras, which owns the other 50% of the field, which is located in the... Continue Reading →
Brazil Energy Insight 