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(Reuters) - Ecuador state oil company Petroecuador said on Monday it plans to shut down a large drilling project in the Yasuni ecological reserve in the Amazon rainforest next August, following a referendum to end it to protect nature and indigenous people. Petroecuador CEO Reinaldo Armijos told reporters the company has a plan for the... Continue Reading →
Petro Services and its main subcontractor Ocean Installer, a marine construction and operations player, have secured a contract with TotalEnergies for umbilical recovery and reinstallation activities on a floating production, storage, and offloading (FPSO) vessel in Angola. The new contract, awarded by TotalEnergies EP Angola and its Block 17 partners, will enable the two players to execute an... Continue Reading →
(Reuters) British trading firms BB Energy and JE Energy on Thursday won two contracts to market Guyana's share of crude production through deals that will pay the South American country premium fees of between 26 cents and 70 cents per barrel over market prices, the energy minister said. Guyana's light sweet crude grades, Liza and... Continue Reading →
(PN) After a wait of more than four months, Enauta was finally able to restart production at its main asset, the Atlanta field, in the Santos Basin. The resumption of operations in the area took place on the 5th of November. The field's production was halted in July, due to technical problems in the electrical... Continue Reading →
Two oil and gas players – Canada’s CGX Energy and Frontera Energy – have revealed the well results for a discovery in the Corentyne block offshore Guyana, which serve to further highlight the potential for a standalone shallow oil resource development across the block. According to CGX and Frontera, a total of 114 feet (35 meters)... Continue Reading →
(TN) Petrobras' P-71 FPSO reached its maximum production of 150 thousand barrels of oil per day, last Wednesday, in the pre-salt Santos Basin. The FPSO-type unit (floating production, storage and transfer system) is the only production platform installed in Itapu, 200 kilometers off the coast of Rio de Janeiro. This field is operated by Petrobras,... Continue Reading →
3R Petroleum Óleo e Gas S.A. (“3R” or “Company”) (B3: RRRP3) hereby presents its earnings for the third quarter of 2023 (“3Q23”). Except as indicated otherwise, the financial and operating information described as follows is presented on a consolidated basis and expressed in Brazilian Reais (R$), in accordance with Brazilian generally accepted accounting principles (CPC)... Continue Reading →
(Reuters) - Argentine national oil company YPF swung to a loss in the third quarter, hurt by lower local fuel prices and higher operating costs, the company said on Wednesday, The result was significantly behind analyst expectations. Net loss in the period totaled $137 million, compared with a $693 million profit in the prior-year third... Continue Reading →
(Reuters) Dutch oil and gas services company SBM Offshore on Thursday upgraded its full-year revenue and core profit targets after ExxonMobil exercised its purchase option for a project in Guyana. The Amsterdam-based company now aims for a directional revenue of $4.4 billion for 2023, against a previous forecast of above $2.9 billion, and earnings before... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras clarifies that, yesterday, it was informed by Abu Dhabi National Oil Company (ADNOC) of its non-binding proposal for the acquisition of Novonor S.A.'s (Novonor) stake in Braskem in the amount of R$10.5 billion. This proposal will still be evaluated by Petrobras' competent bodies. According to releases to the market published... Continue Reading →
Brazil Energy Insight 