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Petróleo Brasileiro S.A. - Petrobras informs that it has signed the Integrated Natural Gas Processing System (SIP) contract with CNOOC Petroleum Brasil Ltda. (CNOOC) and, together with Petrogal Brasil, Repsol Sinopec Brasil and Shell Brasil, partners in the Santos Basin pre-salt offshore pipelines, has concluded the process of CNOOC's adhesion to the existing contracts of... Continue Reading →
The Brazilian oil company Petrobras has launched a tender for the supply of two FPSOs for the shared reservoirs of Atapu and Sépia, with bids expected to be received in July 2023 and production to start in 2028. The offshore production units P-84 (Atapu) and P-85 (Sépia) will each have a daily production capacity of... Continue Reading →
(Reuters) - Argentina's booming shale production in Vaca Muerta, a formation that rivals the United States' Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth. The government is now racing to build out infrastructure: a major... Continue Reading →
(Reuters) Mexican state oil company Petroleos Mexicanos (Pemex) said it has been falling behind in a global race to transition from fossil to renewable energy sources, and that stricter demands from environmentally conscious investors pose a threat. Investors have for years considered Pemex a laggard as rivals worldwide moved to dramatically decrease emissions from energy... Continue Reading →
(PN) The company concluded its first issue of simple debentures, in a restricted public offering. The transaction totaled BR$1.4 billion, of which approximately BR$737 million were First Series debentures and approximately BR$663 million were Second Series debentures, both non-convertible into shares. The funds raised will be used by the company in the development of the... Continue Reading →
(Reuters) - Brazilian oil company Petroreconcavo SA expects to invest more than 1 billion reais ($193.91 million) in 2023 as it develops assets in Northeastern Brazil, and has not ruled out fresh acquisitions, its chief executive said. Petroreconcavo, which started operating in 2000, has grown significantly in recent years after buying onshore assets from state-run... Continue Reading →
(OET) Namibia’s Ministry of Mines and Energy has granted a second one-year extension for the Petroleum Exploration License 87 (PEL 87) located in the Orange Basin. Canada-based Sintana Energy reported on 21 December that Namibia’s Minister of Mines and Energy had granted a second one-year extension to the current, first four-year Initial Exploration Period associated... Continue Reading →
(Reuters) - Brazil's small- and medium-sized oil firms are set to invest some 40 billion reais ($7.74 billion) in onshore fields by 2029, according to a survey by the country's independent oil and gas producers association Abpip. The group, which includes companies such as Eneva (ENEV3.SA) and PetroReconcavo (RECV3.SA), aims to extend the lifespan of and increase production... Continue Reading →
Italian oil giant Eni has signed a contract with China's Wison Heavy Industry for the construction and installation of a Floating Liquefied Natural Gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum). The FLNG will be deployed offshore the Republic of Congo. The 380-meter-long and 60-meter-wide vessel will be anchored at... Continue Reading →
Nigeria plans to hold a mini-bid round for seven offshore blocks next year to spur new exploration, the petroleum regulator said on Wednesday, the first round after Africa's top oil exporter passed new fiscal regimes for its oil and gas sector. The last mini-bid round held in April 2007 under the old regulatory regime offered... Continue Reading →
Brazil Energy Insight 