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(OM) Following constructive discussions with the government of Guyana, joint venture (JV) partners CGX Energy Inc. and Frontera Energy Corp. will focus exclusively on the exploration opportunities in the Corentyne Block offshore Guyana. The decision follows the discovery at the Kawa-1 exploration well on the Corentyne Block. CGX will continue to integrate its findings from the Kawa-1 well into... Continue Reading →
(Reuters) - ExxonMobil CEO Darren Woods on Tuesday said it would take time for energy market volatility to end and that he expects three to five years of fairly tight oil markets. Speaking at a panel at the Bloomberg Qatar Economic Forum in Doha, Woods added that the company had asked the U.S. administration for... Continue Reading →
(Reuters) - Ecuador's state-owned oil company Petroecuador declared force majeure late on Saturday over the impact of protests against the government's social and economic policies in the Andean country, while President Guillermo Lasso tried to clamp down on unrest. The oil company declared force majeure for its exploration, exploitation, transport and commerce sectors - halting... Continue Reading →
Havfram has secured a contract by MODEC Offshore Production Systems (Singapore) for the pre-installation of the subsea mooring system for a floating production storage and offloading (FPSO) vessel destined for Senegal. MODEC will supply the facility to Woodside as part of the Sangomar Field Development Phase 1 project, Senegal’s first offshore oil development. Under the... Continue Reading →
Italian oil and gas company Eni said Saturday that the first hydrocarbons had been introduced from the Coral South reservoir offshore Mozambique into the Coral South FLNG unit. Eni operates the offshore Area 4 where the Coral South FLNG is located. Eni's partners are ExxonMobil, CNPC, GALP, KOGAS, and ENH. Coral South, also known as... Continue Reading →
(Reuters) - Curacao will begin negotiations with a seven-company consortium to take over management of the Caribbean island's oil refinery and storage terminal, state-owned Refineria di Kòrsou (RdK) said on Sunday. Curacao's 330,000-barrel per day Isla refinery was idled in 2018 amid a payment dispute between then-operator Petroleos de Venezuela (PDVSA) and U.S. oil company... Continue Reading →
(Reuters) - Shareholders of Colombia's majority state-owned oil company Ecopetrol on Friday approved a plan to shore up the country's fuel-price stabilization fund (FEPC), as well as an extraordinary dividend for minority shareholders, a spokesperson said. Colombia's government, which owns 88.5% of the oil company, and Ecopetrol will cover the FEPC deficit with 14.1 trillion... Continue Reading →
(Reuters) - A 650,000-barrel-cargo of Venezuela's oil chartered by Italy's Eni (ENI.MI) is about to set sail carrying the first export of crude from the U.S.-sanctioned country to Europe in two years, Refinitiv Eikon data showed on Friday. The U.S. State Department sent letters to Eni and Spain's Repsol (REP.MC) in May authorizing them to resume taking Venezuelan crude... Continue Reading →
Danish offshore drilling contractor Maersk Drilling has revealed that one of its drillships has been named floater rig of the year by Shell, a UK-headquartered energy giant, thanks to a drilling campaign in Brunei. In a statement on Friday, Maersk Drilling announced that Shell has named Maersk Viking its 2021 Global Rig of the Year in the Floater... Continue Reading →
(Reuters) - Brazilian energy company Eneva SA (ENEV3.SA) will price on June 24 a follow-on share offering through which it expects to raise up to 4.09 billion reais ($799.22 million) to fund the acquisitions of Celsepar and Cebarra, it said on Thursday. Eneva will issue 300 million new shares, and the total estimated amount it expects to... Continue Reading →
Brazil Energy Insight 