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The National Petroleum Agency (ANP) approved the declaration of commerciality for the Manjuba field, in the Campos Basin. The field was created from the North Brava block, operated by Petrobras (100%). As a reminder, the North Brava block was acquired by Petrobras in December last year, in the first cycle of the Permanent Sharing Offer.... Continue Reading →
(Reuters) Chevron’s deal to buy Hess will unlock $15 billion worth of tax benefits that had once been relegated to the accounting dustbin, as the combined company takes advantage of Hess’s past losses to cut future payments, according to the company and tax experts. The tax shield is a little-known advantage to Chevron's mega-takeover of Hess... Continue Reading →
(OET) U.S.-headquartered energy giant ExxonMobil has started production from its third oil development at the Stabroek block offshore Guyana, boosting total production capacity in the country to approximately 620,000 barrels per day. ExxonMobil made a final investment decision to proceed with the Payara field development, Guyana’s third offshore oil development on the Stabroek Block, at the end of September... Continue Reading →
(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 →
Brazil Energy Insight 