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(Reuters) - Venezuelan President Nicolas Maduro on Friday named Pedro Rafael Tellechea as the new head of state oil company Petroleos de Venezuela (PDVSA) (PDVSA.UL) and said Yvan Gil Pinto would become the new foreign minister. Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its Asia market despite assistance... Continue Reading →
(Reuters) - Earnings from Shell's (SHEL.L) liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday. Europe's largest oil and gas company's update ahead of its full-year results on Feb. 2 also said it... Continue Reading →
Figure 1: Courtesy Rystad Energy About the Author: Matt Hale is a Lead Analyst at Rystad Energy, based in Houston, Texas. He covers oilfield services including seismic, drilling, intervention, and abandonment markets. Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20%... Continue Reading →
(Reuters) - The Fangtooth oil discovery in Guyana's waters is big enough to potentially require a platform for itself, which would be the seventh in the country, Hess Corp (HES.N) Chief Executive Office John Hess said in a conference on Thursday. Hess Corp is part of the Exxon Mobil Corp-led (XOM.N) consortium that has confirmed so far plans for... Continue Reading →
(Reuters) - The United States is on track to become the world's biggest exporter of liquefied natural gas (LNG) this year - ahead of current market leader Australia - once a fire-idled Texas plant is restarted, according to Reuters data. A June fire sidelined Freeport LNG, the second biggest U.S. export facility, and cut U.S.... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Wednesday signaled another strong operational profit of about $15.4 billion in its fourth quarter, pushing it toward a record take for all of 2022. The largest U.S. oil producer indicated in a securities filing a cooling from its massive profits from the prior quarters. But preliminary operational results confirmed 2022... Continue Reading →
The total production of Oil and Natural Gas for the month of November 2022 was 3.978 million barrels of oil equivalent per day (boe/d), of which 3.095 million barrels of oil per day (bbl/d) and 140.380 million cubic meters of natural gas per day (m³/d). In oil, there was a reduction of 4.6% in comparison... Continue Reading →
Uruguay's state oil company ANCAP has awarded two offshore blocks to Argentina's YPF and a consortium between Shell and APA (ex-Apache). Shell and APA Corporation won the rights to Area OFF-4, where the consortium has committed to conducting 3D seismic acquisition. YPF won the AREA OFF-5 deepwater offshore block. Below is the committed exploratory program... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44 and Brazilian Law No. 6,404, informs its investors and the market in general that, at a meeting held on January 3, 2023, the Board of Directors decided to reorganize the Company's Statutory Board of... Continue Reading →
(Reuters) - U.S. oil producer Chevron Corp (CVX.N) plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday. The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from... Continue Reading →
Brazil Energy Insight 