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The deadline for companies registered in the Permanent Offer to present additional offer guarantees for sectors of blocks included in the 3rd Bidding Cycle, which will be carried out under the concession regime, ends next Monday (3/14). The areas that are included in the 3rd Cycle are located in the Espírito Santo, Pelotas, Potiguar, Recôncavo,... Continue Reading →
(Portos e Navios) PetroRio, an independent oil and gas company, recorded a production record in February, with 35,671 barrels/day. It is the highest average monthly amount for the company. The highlight was the Polvo – Tubarão Martelo cluster, which had a production increase of over a thousand barrels/day. The better operational performance of the FPSO... Continue Reading →
(WO/Bloomberg) — President Joe Biden’s ban on Russian oil imports puts new pressure on U.S. drillers to help fill a supply shortfall that has sent crude prices to the highest levels since 2008. Among them: EOG Resources Inc. and Devon Energy Corp., two shale giants that are sitting on thousands of federal drilling permits, many of which could... Continue Reading →
The chorus is growing from America’s oil executives for President Joe Biden to throw the federal government’s weight behind an industry he once deliberately shunned: U.S. shale. (WO) The Biden administration, which has made climate one of its policy pillars, has more than once asked OPEC+ to raise crude production to tame energy prices --... Continue Reading →
(Reuters) - Argentine state oil company YPF (YPFD.BA) on Thursday posted a $247 million net profit in the fourth quarter 2021, a 54% drop compared to the year-ago period. The company said profit was hurt by high international prices that could not be fully passed onto local customers. However, revenue grew from some of its main petroleum... Continue Reading →
(Reuters) - Publicly traded U.S. shale firms are not budging on production restraint vows as oil markets surge amid Russia's invasion of Ukraine, leaving smaller producers to lead output gains during the highest prices in seven years. Oil futures on Tuesday traded up as much as 10% to $107 per barrel, the most since July... Continue Reading →
Norwegian energy group Equinor (EQNR.OL) said on Monday it will start the process of divesting from its joint ventures in Russia amid Moscow's invasion of Ukraine. Equinor is the second major European oil and gas producer, after energy major BP , to announce its exit from Russia as Western countries ramp up efforts to punish Russia with... Continue Reading →
(Bloomberg) -- After watching big banks curtail lending and asset managers pare bets, fossil fuel producers are now losing access to some of Wall Street’s deepest pockets. Blackstone Inc., once a major player in shale patches, is telling clients its private equity arm will no longer invest in the exploration and production of oil and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/22/2022, informs that it has signed today with the company Seacrest Petróleo SPE Norte Capixaba Ltda., a wholly owned subsidiary of Seacrest Exploração e Produção de Petróleo Ltda., a contract for the sale of its total interest (100%) in a set of 4... Continue Reading →
(Reuters) - The first contract for drilling at the key Ishpingo oilfield near Ecuador's Yasuni National Park has been awarded to China National Petroleum Corp (CNPC), energy minister Juan Carlos Bermeo told Reuters on Wednesday. The South American country, which is pushing legal reforms to win private investment through tax and job incentives, has also... Continue Reading →
