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(epbr) ExxonMobil began drilling the first exploratory well in block SEAL-M-428 (Cutthroat prospect), named 1-EMEB-3-SES. The drilling is being carried out by Seadrill's West Saturn rig, in a water depth of 3,093 meters, with an estimated duration of between two and four months. -- The information was released this Monday morning by Enauta. The company... Continue Reading →
(Bloomberg) Oil prices could be set for a “prolonged period” above $100 a barrel over the next six to nine months, with the world setting fresh demand records this year, said Vitol Group Chief Executive Officer Russell Hardy. Crude already surged to within a few dollars of that level earlier this month, as the recovery... Continue Reading →
(Reuters) - The global liquefied natural gas (LNG) market is expected to remain tight this year following last year’s volatility which saw demand rise 6% and gas prices hit an all-time high, Shell (SHEL.L) said on Monday. Natural gas prices around the world soared late last year due to a combination of tightening supplies, weaker renewable power... Continue Reading →
Following the Bambo drilling campaign in late 2021, Australia’s FAR Limited and its partner Malaysia’s Petronas have completed a review of the prospectivity of the A2 and A5 blocks offshore The Gambia, opening additional, material exploration opportunities. The JV has now fulfiled the minimum work obligation for both blocks, gaining the right to enter the... Continue Reading →
TotalEnergies said Monday it has made a significant new oil and associated gas discovery at the Krabdagu-1 well offshore Suriname. Made in the central area of offshore Block 58, the discovery follows previous discoveries at Maka, Sapakara, Kwaskwasi and Keskesi, and the successfully tested Sapakara South-1 appraisal well. Located 18 kilometers south-east of Sapakara South,... Continue Reading →
Oil production in Brazil started the year on a high, totaling 3.03 million barrels per day in January on average, an increase of 5.5% compared to the same month last year, with an increase in the pre-salt and of the post-salt, indicated data from the National Agency of Petroleum, Natural Gas and Biofuels (ANP). In... Continue Reading →
(Reuters) - British bank Natwest (NWG.L) cut lending to clients in the oil and gas sector by 21% in 2021 and aims to limit it further as part of efforts to decarbonise its loan book and reach net-zero emissions, it said on Friday. Financial firms around the world are increasingly committing to the net-zero target as part... Continue Reading →
(OM) FPSOs have revolutionized deepwater E&P, enabling oil companies to produce oil in areas that were not previously economically viable. Following a challenging 2020, the FPSO market rebounded dramatically last year, with more contracts awarded in the second quarter of 2021 alone than during the entire 2020. Some estimates suggest the market could reach a... Continue Reading →
(Reuters) - Italy's Eni became the latest energy group to benefit from the oil and gas boom as it posted its best result since 2012 to provide cash to cover returns to investors and also fund its green drive. The group swung to an adjusted net profit of 4.74 billion euros ($5.4 billion) last year... Continue Reading →
(OE) Guyana is in talks with state-run oil firms from the Middle East to discover new offshore fields, Vice President Bharrat Jagdeo told Reuters, hoping to recruit a new and substantial explorer to its nascent energy industry. Results of the talks with Middle East firms could lead Guyana to bar a consortium led by U.S.... Continue Reading →
Brazil Energy Insight 