London-listed oilfield services giant Petrofac has won a contract with the oil firm Tullow Oil to provide operations services for Tullow's Jubilee Development offshore Ghana. Petrofac’s role in the Jubilee development in Ghana – one of the largest oil fields discovered offshore West Africa in 20 years – includes the provision of operations, maintenance, and... Continue Reading →
Petroperu requests emergency declaration after pipeline attack
(Reuters) - State-owned Petroperu asked the government to declare a state of emergency for a major crude oil pipeline late on Friday, after it suffered a series of cuts in an Amazonian region of the country that it described as "an unprecedented attack." Petroperu confirmed an oil leak in a statement, adding that the spill... Continue Reading →
Petrobras signs SIX royalty agreement with the ANP
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 10/22/21, informs that it signed an agreement today with the National Agency of Petroleum, Natural Gas and Biofuels (ANP) relating to the collection of royalties on the operation of the Shale Industrialization Unit (SIX), located in São Mateus do Sul, state of Paraná,... Continue Reading →
Shell pauses sale of Nigerian onshore oil assets
(Reuters) - Shell (SHEL.L) said on Thursday it had suspended plans to sell its onshore oil assets in Nigeria, complying with a Supreme Court ruling that said it had to wait for the outcome of an appeal over a 2019 oil spill. "Shell welcomes the Nigerian Supreme Court's decision to hear the appeal of the Shell Petroleum... Continue Reading →
Petrobras on injunction to suspend Bahia Terra Cluster sale
Petróleo Brasileiro S.A. – Petrobras, following the announcement made on June 10, 2022 about the injunction decision issued by the Court of Justice of the State of Rio de Janeiro determining the suspension of contractual negotiations related to the sale process of the Bahia Terra Cluster, informs that the suspensive effect of the appeal filed... Continue Reading →
3R Petroleum production data for May 2022
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 May 2022 in the assets that the Company holds participation. (1) Macau Cluster production was impacted by a drop in energy supply during the... Continue Reading →
Permian oil output forecast to hit record high in June -EIA
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 84,000 barrels per day (bpd) to a record 5.316 million bpd in July, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
Drilling vs returns. U.S. oil producers’ tradeoff as windfall tax threatens – Long read
(Reuters) - U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street. Soaring fuel prices have boosted inflation to a 40-year record and are expected to drive up U.S. gasoline by more... Continue Reading →
Petrobras on injunction to suspend Bahia Terra Cluster sale
Petróleo Brasileiro S.A. – Petrobras informs that it was notified, on 06/09/22, of the preliminary injunction decision issued by the Court of Justice of the State of Rio de Janeiro, determining the paralysis of contractual negotiations with the Petrorecôncavo and Eneva consortium regarding the sale process of the onshore production fields located in the Recôncavo... Continue Reading →
Argentina announces tender to build new Vaca Muerta gas pipeline
(Reuters) - Argentina has launched a tender process to build a new gas pipeline out of its huge Vaca Muerta shale formation that is expected to increase current transport capacity by 25%, the government said late on Friday. Companies have until July 8 to submit bids, according to a publication in Argentina's official gazette. The... Continue Reading →
