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(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 →
(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 →
(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 →
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 →
(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 →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 05/10/21, informs that it concluded on 10/08/2021 the sale of its 50% stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe, to the company Petrom Produção de Petróleo & Gás Ltda. (Petrom). The sale... Continue Reading →
3R Petroleum recorded an average production of 6,752 barrels of oil equivalent (boe) per day in 3Q 2021, compared to 5,635 boe/d recorded in the previous quarter. -- Most of the increase in production took place with the start of production of the Rio Ventura cluster, in Bahia, acquired from Petrobras in 2020. -- Production... Continue Reading →
(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 →
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 →
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 →
