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Oct. 5 (oilnow.gy) Guyana’s offshore oil production fell to an average 832,000 barrels per day (b/d) in August, the lowest monthly level in nearly a year, according to government data reviewed by OilNOW. Production declined by about 54,000 b/d, or 6.1%, from the 886,000 b/d recorded in July. The reduction was driven primarily by substantially... Continue Reading →
Sept 30 (Reuters) - Executives gathered in Caracas this week for the first large energy conference since Washington launched a $100 billion reconstruction effort for Venezuela's oil industry are warning about slow progress to clear the biggest obstacle for their expansion projects: unreliable power. With an unresolved electricity deficit of more than 1,500 megawatts (MW),... Continue Reading →
Sept. 30 (Reuters) Qatari producer UCC Oil and Gas Holding is in talks for its possible entrance into new fields in Venezuela, the company's head of Upstream, Erik Keskula, said on Tuesday at a conference in Caracas. UCC, British BP and XRG, a unit of United Arab Emirates' state company ADNOC, last month were granted... Continue Reading →
Sept.29 - BRAVA ENERGIA S.A. ("Brava" or the "Company") (B3: BRAV3), pursuant to CVM Resolution No. 44, hereby informs its investors and the market in general that it commenced production at well PPT-52 on this date, following authorization from the Brazilian Institute of the Environment and Renewable Natural Resources (“Ibama”). The well is part of... Continue Reading →
Sept 29 (Reuters) - Colombia's oil and gas producer GeoPark is planning a $7 billion investment in Venezuela's large Bare oilfield to increase crude output there to some 90,000 barrels per day by 2038 from a current 11,000 bpd, the company's chief executive, Felipe Bayon, said on Tuesday. With 15.7 billion barrels of original oil... Continue Reading →
Sept. 27 (oilprice.com) The Trump Administration is touting the new oil order in Venezuela as a tremendous opportunity for reviving the industry in the world’s biggest crude oil resource holder. The U.S.-led restructuring of the sector kicked out Russian and Chinese companies out of previously awarded concessions, and spurred a flurry of oil deals with... Continue Reading →
Sept. 26 - Petrobras signed a memorandum of understanding (MoU) with Mozambique's Empresa Nacional de Hidrocarbonetos (ENH) to establish the foundation for strategic cooperation between the companies in the oil and gas sector. The agreement's objectives include joint efforts in studies, assessment, development, and commercialization, as well as knowledge sharing and the exchange of technical... Continue Reading →
Sept 24 (Reuters) - Colombia's state-controlled oil company Ecopetrol tapped businessman Joaquin Gutierrez as chief executive, the company said on Thursday, giving one of the country's most important corporate jobs to a close presidential ally with no known background in the energy sector. Gutierrez, a former campaign manager for President Abelardo De La Espriella with... Continue Reading →
Sept 21 (Reuters) - Halliburton has signed memorandums of understanding with Brazilian energy company Eneva and WESCA to pursue oil and gas development opportunities in Venezuela, the U.S. oilfield services provider said on Monday, as companies seek a potential revival of investment in the country's long-underdeveloped energy sector Companies with existing positions in Venezuela, as... Continue Reading →
Sept. 16 (oilprice.com) Argentina's controversial right-wing president, Javier Milei, slashed inflation with a brutal dose of economic austerity, but this came at a steep social cost. The cost of living is spiraling higher, fueling household debt, loan delinquencies, and economic hardship. Industrial output, since Milei took office, has declined sharply, with local companies closing at... Continue Reading →
