(Bloomberg) --As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the Covid-19 pandemic, according to BP Plc. Fossil fuel consumption is recovering despite growing urgency in the effort to curb emissions of greenhouse gases. The resurgence... Continue Reading →
3R INCREASES PROVEN RESERVES BY 35% WITH PAPA-TERRA AND FORECASTS PRODUCTION PEAK IN 2027
The Papa-Terra field, in the Campos Basin, which marked the entry of 3R Petroleum in the state of Rio de Janeiro, will increase the company's proven (1P) reserves by around 35%, bringing them to a total 185.1 million barrels of oil equivalent. The company recently received from DeGolyer & MacNaughton the final result of the... Continue Reading →
Petrobras on agreement with ANP
Petróleo Brasileiro S.A. – Petrobras informs that, on 10/14/2021, its Executive Board analyzed and approved the submission to the Board of Directors of a proposal to enter into an Agreement between Petrobras and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) related to royalties on the operation of the Shale Industrialization Unit (SIX),... Continue Reading →
EXCLUSIVE U.S. slows down oil and gas mergers-sources
(Reuters) - U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden's administration scrutinizes deals in a bid to tackle soaring energy prices, according to regulatory filings and corporate lawyers. The slowdown comes amid growing pressure on policymakers... Continue Reading →
Petrobras – Highlights on production and sales in 3Q21
Petrobras - In 3Q21, we continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached 2.83 MMboed, 1.2% above 2Q21, mainly... Continue Reading →
Peru’s state-owned oil company plans return to production for first time since 1990s
(Reuters) - Peru's state-owned Petroperu hopes to once again extract oil in the Andean nation by the end of the year to supply crude to its Talara refinery, the government said on Wednesday. The move, under new socialist President Pedro Castillo, signals a return to oil production for Petroperu after more than two decades focused... Continue Reading →
3R CONSULTATION ON ANALYSIS OF FUTURE DEVELOPMENT PLANS BY ANP
(PetroleoHoje) 3R Petroleum must submit new development plans (PDs) to reduce royalties and/or extend contracts for newly acquired fields within one year after approval of the Annual Work Programs (PAT), Annual Production Programs (PAD) and Annual Reserve Bulletins (BAR) by the ANP. In an official letter to the agency, the company proposed the presentation of... Continue Reading →
Electrical failure reduced production at five oil blocks -Petroecuador
(Reuters) - Ecuador's state oil company Petroecuador said on Friday that production at five of its blocks was reduced by some 31,000 barrels because of an electrical failure in the country's Amazon region. The failure occurred on Thursday at a substation run by the state electrical company, leaving areas of Sucumbios and Orellana provinces -... Continue Reading →
Petrobras on Bahia Terra Cluster divestment
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news in the media about the sale of onshore production fields, located in the Recôncavo and Tucano Basins, in the state of Bahia, jointly called the Bahia Terra Cluster, clarifies that it has received binding offers from potential interested parties in the acquisition of the assets.The... Continue Reading →
EXCLUSIVE Aguila Energia’s $1.5 billion bid for Petrobras’ Bahia fields tops rivals’, sources say
(Reuters) - A consortium led by Aguila Energia has placed the highest bid for Brazilian state-run oil company Petrobras' Bahia onshore fields, offering over $1.5 billion, according to two sources with knowledge of the situation. Petroleo Brasileiro, as the company is formally known, declined to comment. The proposal by Aguila Energia, a company founded by... Continue Reading →
