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3R PETROLEUM ÓLEO E GÁS S.A. ("3R" or "Company") (B3: RRRP3), pursuant to article 157, paragraph 4, of Law No. 6,404 and CVM Resolution No. 44, hereby informs its investors and the market in general that, due to the default of the financial obligations of Nova Técnica Energy Ltda. ("Nova Técnica") established within the scope... Continue Reading →
(OE) Oslo-listed FPSO leasing company BW Offshore has completed the sale of its laid-up FPSO Polvo to BW Energy. The agreed price was $50 million, for which BW Energy $30 million upon the vessel transfer date, with the remaining $20 million provided as a seller’s credit by BW Offshore. BW Offshore has received the remaining... Continue Reading →
Petrobras has produced first gas through the P-68 platform serving the Berbigão and Sururu fields in the Santos Basin offshore Brazil, the company said in its latest results statement. It also conducted a scheduled shutdown of the Mexilhão Platform (Route 1) in the same basin for preventive maintenance, designed to ensure continued production, flow and natural gas supply operations. In... Continue Reading →
(Reuters) Exxon Mobil Corp will shut down two offshore oil production projects in Guyana for two weeks each, between July and August, to connect a natural gas pipeline, the company's country head Alistair Routledge told reporters in Georgetown on Tuesday. The 140-mile (225-km) pipeline will feed Guyana's $1.9 billion gas-to-power project aimed at ending the... Continue Reading →
(OE) Norwegian offshore vessel operator DOF Group has secured two contracts with Brazil’s state-run oil and gas company Petrobras, worth over $192 million. Petrobras has awarded new long-term charter and service contracts to Norskan Offshore. and DOF Subsea Servicos Brasil, after a competitive tender process. The vessel Skandi Amazonas, which was on the spot market,... Continue Reading →
In 1Q24, average production of oil, NGL and natural gas reached 2,776 MMboed, increase of 3.7% when comparing with the same period last year (1Q23). Among the main factors behind this variation, we can highlight the ramp-up of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi and Sepetiba, as well as the start-up of... Continue Reading →
(OE) France-based tubular solutions supplier for the energy market Vallourec has secured an order from ExxonMobil for the supply of line pipe for the Whiptail development, offshore Guyana. This is the fourth major order in the framework of the long-term agreement signed in 2021 with ExxonMobil Guyana. Vallourec will deliver over 180 km of line... Continue Reading →
By Fernando Tamayo, Emissions Team Lead, Welligence Energy Analytics (OE) In recent years, the oil and gas industry has faced mounting pressure to address its environmental impact. This has led many companies to set decarbonization targets – we are tracking more than 460 targets set by independents, majors, and NOCs across the sector. However, achieving... Continue Reading →
(Reuters) - Hess Corp (HES.N), opens new tab reported a first-quarter profit on Thursday that beat analysts' estimates, helped by higher production from the oil and gas company that is set to be acquired by U.S. energy major Chevron (CVX.N), opens new tab in a $53 billion deal. Net production at Hess jumped 27.3% to 476,000 barrels of oil... Continue Reading →
Jesper Skjong, Contributor (OE) Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly. While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side has also started to wake from its slumber albeit ever so slightly... Continue Reading →
Brazil Energy Insight 