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Namibia aims to fast-track the development of its first oilfield to have production by 2026 following a significant offshore discovery by Shell, a senior energy official told Reuters on Monday. Shell on Friday said the exploration well off the coast of the southern African country had shown "encouraging" results with the presence of a working petroleum system with light... Continue Reading →
(PetróleoHoje) Shell and the BW Offshore / Saipem consortium are close to concluding the contracting of the FPSO of Gato do Mato, a unit that should start operating between 2024 and 2025. Sources involved confirmed to PetróleoHoje that, after months of negotiations, Modec is out of the process and that the award of the contract... Continue Reading →
Houston-based Vaalco Energy has completed its first of four wells in the 2021/2022 drilling campaign offshore Gabon and brought it into production with strong initial flow rates. The Etame 8H-ST development well was drilled from the Etame platform in the Etame field. This sidetrack well targeted existing Gamba hydrocarbons in the field that have not... Continue Reading →
(Reuters) - The Biden administration is considering a Chevron Corp (CVX.N) proposal to allow the U.S. oil major to accept and trade Venezuelan oil cargoes to recoup unpaid debt, four people close to the discussions said. Chevron representatives in recent months held at least one high-level meeting with U.S. diplomats along with Venezuelan opposition envoys, according to... Continue Reading →
Petrobras reached an average of 88% of total load factor of its refineries in the last three months of 2021. In early February, it reached close to 90%. Operational decisions in refining take into account that, for each barrel of oil processed in the refinery, necessarily, several products are generated and subsequently distributed. For example,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 06/30/2021 and 07/05/2021, informs that today it concluded the sale of its entire stake in seven concessions denominated Alagoas Cluster, located in the state of Alagoas, to the company Origem Energia S.A (former Petro+). The operation was concluded with the payment of US$... Continue Reading →
Constellation secured a new charter contract for Olinda Star. The Brazilian group closed a deal with ONGC, guaranteeing 16 months of chartering, after presenting a best price in the bidding conducted by the oil company. The two companies signed a letter of intent at the end of January, but the rig should only start operating... Continue Reading →
Norwegian offshore vessel operator Solstad Offshore has secured several contracts for its construction support vessels. The contracts, for deployment in the North Sea, Brazil and West Africa, will have a combined total length of 640 days, with additional extension options available upon expiration. The total value of the contracts, which will see Solstads CSVs Normand Maximus, Normand... Continue Reading →
Following recent reports that Shell has made an oil discovery offshore Namibia, the confirmation came Friday from its partner QatarEnergy. QatarEnergy, until recently known as Qatar Petroleum, confirmed that an oil discovery had been made in a deepwater exploration well drilled in the PEL-39 license located in the Orange Basin, offshore Namibia. "The consortium partners comprising... Continue Reading →
(Bloomberg) — Vitol Group, the world’s largest independent oil trader, is partnering with shale specialists who formerly led Brigham Exploration Co. to expand amid the highest crude prices in seven years. The trader and Austin, Texas-based driller ATX Energy Partners LLC formed VTX Energy Partners LLC to acquire wells in the Permian and Bakken shale... Continue Reading →
Brazil Energy Insight 