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(WO) The Uganda National Oil Company plans to sign a final investment decision on Feb. 1 for a large oil field and pipeline project, taking a definitive step toward becoming a crude exporter. TotalEnergies SE and Cnooc Ltd., along with the East African country’s state oil company, are developing projects expected to reach an output... Continue Reading →
(Reuters) - Italian energy services group Saipem is talking to investors about a possible funding package, the group said on Monday after warning it will take a heavy loss for 2021, triggering a halt in its shares to prevent a stinging sell-off. Saipem has struggled to regain traction after global lockdowns caused by COVID-19 throttled... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 12/07/2020 and 02/01/2021, informs that it has unsuccessfully concluded negotiations with Eneva S.A. for the sale of all of its interest in a set of seven onshore production concessions, called the Urucu Cluster, located in the Solimões Basin, in the state of Amazonas.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 12/23/2020, 08/27/2021 e 01/19/2022, informs that the Company's Board of Directors, at a meeting held today, approved the sale of its total stake (100%) in a set of 22 concessions of onshore and shallow water production fields, together with its infrastructure for processing,... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) on Friday reported a fourth quarter profit that missed Wall Street estimates despite sharply higher oil and gas prices. The first of the major oil companies to report quarterly results posted adjusted earnings of $5.1 billion, or $2.65 a share, on profits from pumping oil that soared about five times the pandemic-depressed... Continue Reading →
(Reuters) Peruvian prosecutors requested on Thursday that the president and three other executives of Spanish oil firm Repsol SA's local refinery be barred from leaving Peru for 18 months while a probe into an oil leak is under way. Repsol's La Pampilla refinery, Peru's largest, leaked thousands of barrels' worth of oil off Peru's central... Continue Reading →
A federal judge invalidated the results of an oil and gas lease sale in the Gulf of Mexico on Thursday saying the Biden administration failed to properly account for the auction's climate change impact. The decision has cast uncertainty over the future of the U.S. federal offshore drilling program, which has been a big source... Continue Reading →
Panoro Energy said Thursday it had received government approvals to sell its interest in the OML 113 offshore block in Nigeria to PetroNor. The company will sell its stake in Aje Petroleum which holds a 6.502% participating interest, with 16.255% cost-bearing interest, representing an economic interest of 12.1913% in OML 113, which includes the Aje... Continue Reading →
(Reuters) - Exxon Mobil Corp. (XOM.N) next month plans to start production at its second oil platform in Guyana, a person familiar with the matter said on Tuesday. Guyana is one of Exxon's top bets for production growth. Its recent discoveries are expected to drive recoverable oil and gas volumes beyond 10 billion barrels, the person said.... Continue Reading →
U.S. oil and gas company Hess Corporation returned to profit during the fourth quarter of 2021, bolstered by higher oil and gas prices. Hess reported on Wednesday a net income of $265 million in the fourth quarter of 2021, compared with a net loss of $97 million in the fourth quarter of 2020. The company also reported... Continue Reading →
Brazil Energy Insight 