(PetroleoHoje) Cade approved two 3R acquisitions in the Potiguar Basin: the purchase of shares issued by Duna Energia, which will make the oil company a full subsidiary of 3R, integrating the Ponta do Mel and Redonda fields in the portfolio; and the acquisition of a 50% stake in Galp in the Sanhaçu field. Both operations... Continue Reading →
Expro, Frank’s Merge
UK-based oilfield services firm Expro and Dutch-based drilling and completions solutions provider Frank’s International have completed the previously announced all-stock merger. The combined company has assumed the Expro Group Holdings name. "This is an exciting day for Expro and Frank’s as we bring our companies together to create a new global leader with the breadth... Continue Reading →
ANP APPROVES REDUCTION OF ROYALTIES FOR SMALL AND MEDIUM-SIZED PRODUCERS
The board of the National Petroleum Agency (ANP) approved a resolution that will reduce the collection of royalties for small and medium-sized oil companies operating in the country. With the new standard, the new percentages charged will be 5% for small companies and 7.5% for medium companies. As is to be expected, the measure is... Continue Reading →
AUTHORIZED TRANSFERS OF THE MIRANGA CLUSTER TO PETRORECONCAVO AND OF THE PEROA CLUSTER TO 3R PETROLEUM
(PetroNoticias) The National Petroleum Agency (ANP) approved the transfer of 100% of the Petrobras stake in the Miranga cluster in Bahia, to PetroReconcavo. The regulatory agency also gave the green light for the full sale of Polo Peroa, in the shallow waters of Espírito Santo, to 3R Petroleum. As a reminder, the sale of the... Continue Reading →
Shell Exits Permian with $9.5B Sale to ConocoPhillips. Its U.S. Output Now Mostly Offshore
(Reuters) - Royal Dutch Shell (RDSa.L) said on Monday it would sell its Permian Basin assets to ConocoPhillips (COP.N) for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy transition. For ConocoPhillips, it is the second sizable acquisition in a year in the heart of the... Continue Reading →
3R WILL MAKE ADJUSTMENTS TO THE PRODUCTION MEASUREMENT OF THE MACAU CLUSTER AND EXPECTS TO OPEN SEPARATION PLANTS IN 2022
The independent oil company 3R announced (13) that it reached the highest gross production measured in the fields of Macau, in the Potiguar basin (RN). In addition, the company also recorded the highest oil production measured by flow meters at its metering stations in such concessions. However, this increase in volume was not reflected in... Continue Reading →
Mexico’s president earmarks $32B to help Pemex boost oil production
(Bloomberg) --Mexico President Andres Manuel Lopez Obrador is raising Pemex’s spending plan for next year to about $32 billion in a bid to boost flagging oil production. The funds allocated for the state producer in a 2022 budget proposal, including operational spending, represent a 17% increase from this year. Of the total, about $18 billion... Continue Reading →
Petrobras on Potiguar Cluster divestment
Petróleo Brasileiro S.A. - Petrobras, regarding the pieces of news in the media about the divestment project of the Potiguar Cluster, which includes a set of 26 concessions of onshore and shallow waters production fields, including the Clara Camarão refinery, in the state of Rio Grande do Norte, clarifies that it has received binding offers... Continue Reading →
Petrobras oil & gas divestments could end this year
The Petrobras divestment program of oil and gas producing fields has a date set to end: December 31, 2021, as determined by the National Agency for Petroleum, Natural Gas and Biofuels (ANP). In recent years, medium-sized oil companies have gained muscle by acquiring state-owned assets. But, starting in 2022, they will need to look for... Continue Reading →
PetroRecôncavo posted net revenue of R$249 million in the second quarter
The company earned R$94.5 million and recorded net cash above R$450 million in the period PetroReconcavo, one of the leading independent oil and gas operators in the revitalization of mature onshore fields in Brazil, announced its results for the second quarter of 2021 (2Q21). Net revenue was R$ 249 million in the period, a growth... Continue Reading →
Brazil Energy Insight 