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Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on March 14, 2023, informs that it obtained, on Friday (03/31), authorization from the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to resume production from the Araçás field, located in the Bahia Terra Cluster. Thus, the company started the execution of operational... Continue Reading →
Vaca Muerta, one of the world’s largest oil and gas shale reservoirs and Argentina’s most critical asset in helping propel the country’s hydrocarbons output higher, ended the year with outstanding figures. Record production and impressive well performance advances were met by short-term takeaway constraints as many ambitious commitments to increase capacity are yet to be... Continue Reading →
(PN) Exploration of new oil wells in Brazil will receive around US$ 1.5 billion in investments in 2023. The forecast was revealed this week by the National Petroleum Agency (ANP), which published the data in a new panel dynamic on contracts in the exploration phase. The largest share of funds (US$ 1.1 billion) will be... Continue Reading →
(Reuters) Ecuador will need to revise down its daily crude oil production target by some 40,000 barrels, equivalent to about 8%, its oil minister said, after state-run company, Petroecuador declared force majeure on three more oil blocks on Tuesday because of protests. Petroecuador had already declared force majeure on another block over the weekend, also... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news released in the media, informs that the divestment process of the Bahia Terra Cluster is in the negotiation phase with the consortium of companies Petrorecôncavo and Eneva, and no decision has been taken by the Executive Board and the Board of Directors concerning these assets,... Continue Reading →
Baker Hughes’ international rig count report shows that the number of offshore rigs took a downturn in February 2023, slipping by 4 units, compared to last month. However, the total number of international rigs rose to 915 from 901 units during the previous month. After the number of international offshore rigs increased by 10 units in January... Continue Reading →
(Bloomberg) – Colombians protesting the poor state of roads took more than 80 police officers and oil workers hostage after raiding an oil field owned by a unit of China’s Sinochem Group, according to local media reports. A policeman and a civilian are dead. Social media videos show how the unarmed police were placed in... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), in compliance with Official Letter No. 336/2023-SLS, issued by B3 S.A. – Brasil. Bolsa. Balcão (“B3”), on March 01st, 2023 (“Official Letter”), hereby informs that it was asked about the fluctuations recorded in the price of its common shares, the number of trades and the amount... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) on Tuesday reported record net profit of 33.4 trillion pesos ($6.9 billion) for 2022, double the previous year, boosted by higher oil prices and greater-than-expected production. Ecopetrol also reported a fourth-quarter net profit of 6.85 trillion pesos, up 13% from a year earlier. Reuters Graphics "During 2022 Ecopetrol... Continue Reading →
The independent operator PetroReconcavo announced the completion of the acquisition of 100% of the shares of Maha Energy Brasil, an exploration and production company headquartered in Rio de Janeiro and with onshore operations in Bahia and Sergipe. The deal involved US$ 138 million and was announced in December last year. With the acquisition, PetroReconcavo now... Continue Reading →
