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(Reuters) - China National Petroleum Corp (CNPC), Asia's largest oil and gas producer, has over the past three decades built a global portfolio with assets in 33 countries. The company's overseas production exceeded 100 million metric tons, or 2 million barrels per day of oil equivalent, for the first time in 2019 and has since... Continue Reading →
(Reuters) - China's Sinopec posted a 2.6% rise in net profit for the first half of the year as record oil and gas output compensated for falling domestic demand for refined fuel and petrochemicals. China Petroleum & Chemical Corp., as Sinopec is officially known, reported on Sunday a net income of 37.1 billion yuan ($5.21... Continue Reading →
(OilNow..gy) Guyana’s next Stabroek Block development could potentially be ExxonMobil’s Longtail discovery, Vickram Bharrat, the country’s Minister of Natural Resources said. “They are already moving ahead with Hammerhead, and we have heard talks that Longtail will come after that,” he said. The Longtail-1 discovery in the Stabroek Block was drilled in 2018, encountering approximately 256... Continue Reading →
(offshore-energy.biz) U.S. offshore engineering and construction player McDermott has been tasked with putting all the pieces in place for the development of a gas project off the coast of Trinidad and Tobago, thanks to an engineering, procurement, construction, installation (EPCI), hook-up, and commissioning contract with Shell Trinidad and Tobago Limited, a subsidiary of the UK-headquartered... Continue Reading →
SBM Offshore is pleased to announce that it has signed a contract with Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (“Woodside”), operator of the Trion deepwater oil field development located in the Perdido Belt of the western Gulf of Mexico. Under this contract, SBM Offshore will construct and thereafter lease to Woodside... Continue Reading →
(Oilprice.com)U.S. shale producer Occidental Petroleum Corp. (NYSE:OXY) and Colombia's integrated energy company Ecopetrol S.A. (NYSE:EC) are planning to drill an offshore oil well off Colombia's waters in seas roughly 3,900 meters (close to 13,000 feet) deep before the year is out, Bloomberg has reported. Dubbed Komodo-1, the ultra-deepwater well will qualify as the deepest offshore oil well in the world, beating... Continue Reading →
(Reuters) - Hess Corp beat estimates for second-quarter profit on Wednesday, helped by sharply higher oil production in Guyana and stronger prices. The South American country and its lucrative oil assets are at the center of a dispute between Hess, Chevron and Exxon . Last October, Hess agreed to sell itself to Chevron for $53 billion in stock,... Continue Reading →
(Reuters) Venezuela on Wednesday granted a 20-year license to British energy producer BP and state-owned National Gas Company of Trinidad and Tobago (NGC) to develop the Venezuelan side of a natural gas field that extends into the Caribbean country's waters. Venezuela, whose gas reserves are mostly untapped, has in recent years expanded offers for offshore... Continue Reading →
Equinor, on behalf of its partners in the Raia project – Repsol Sinopec Brasil and Petrobras, awarded Valaris, represented by Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, a drilling contract for operations in Brazil. Drilling activities are scheduled to begin in 2026. The objective is to drill six wells, with... Continue Reading →
(Reuters) - Bolivian state oil firm YPFB will spend around $400 million to drill gas wells and build facilities at a recently discovered natural gas "mega" field, the company said on Thursday. Production at the Mayaya field, estimated to hold 1.7 trillion cubic feet (TCF) of natural gas, should kick off in three to four years, YPFB... Continue Reading →
Brazil Energy Insight 