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(Bloomberg) — U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. High oil prices and disciplined capital spending mean American frackers are on course for their most profitable year... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(Reuters) - Argentina's central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according to new data. The central bank raised the benchmark 'Leliq' rate for the 28-day term to 69.5% from 60%,... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for July 2022 in the assets that the Company holds participation. (1) Macau Cluster had its production in May, June and July impacted by an... Continue Reading →
(PN) Eneva expects to be able to resume, in the third quarter, negotiations with Petrobras for the purchase of the Bahia Terra Cluster. The information was disclosed today by Eneva's CFO, Marcelo Habibe, during a conference call with investors. The conversations with Petrobras, according to the executive, were already at an advanced stage, when a... Continue Reading →
(OE) Measurements of methane emissions from shallow water oil and gas platforms in the U.S. Gulf of Mexico found they were substantially higher than those from drilling on land, according to research published on Thursday. The study, by researchers at non-profit Carbon Mapper, the University of Arizona, NASA's Jet Propulsion Laboratory, the University of Michigan and Arizona State... Continue Reading →
(Reuters) - Argentina is planning to give tax and customs benefits to oil companies so they can boost production, the country's new economy "superminister" said on Thursday. The move comes as the country seeks to turbo-charge investments in the Vaca Muerta shale formation, the world's fourth-largest shale oil reserve and the second-largest for shale gas.... Continue Reading →
(OEM) The American Petroleum Institute (API), a trade association representing the oil and gas industry, believes ramping up domestic production and turning to U.S.-made energy is the answer to the global supply and demand imbalance hitting Americans at the pump and impacting the broader economy. The American Petroleum Institute claims that energy demand is outstripping supply... Continue Reading →
Italian oilfield services firm Saipem said Thursday it had secured three new engineering and construction contracts - one onshore and two offshore - in Angola. The total value is around $900 million. The contracts are with the New Gas Consortium comprised of BP's and Eni's recently established Azule Energy Angolan JV, and Sonangol P&P, Chevron, and TotalEnergies,... Continue Reading →
(Reuters) - Wind turbine maker Vestas (VWS.CO) expects to deliver more positive results next year, its chief executive said on Wednesday, as high costs from raw materials and transport, which hit second-quarter results, are passed on to customers. Shares in Vestas rose 4% after the firm said it raised its prices in the second quarter by 22%... Continue Reading →
