Nigeria's Seplat Energy along with a partner is in talks to buy ExxonMobil's shallow-water oilfields in the African nation, the company said on Monday, cautioning there was no certainty about the outcome. In recent years, Exxon has been exiting investments worth billions of dollars in oil and gas fields in Europe, Asia and Africa as... Continue Reading →
PXGEO Completes 4D OBN Program for Petrobras in Brazil
Marine seismic contractor PXGEO has completed the Sapinhoa 4D Baseline ocean bottom node program in the deepwater Santos Basin, offshore Brazil, for the BMS-9 consortium, which is controlled by Petrobras. The four-month project, which used PXGEO's Manta OBN technology, was on time around the end of October 2021. "The PXGEO COVID-19 mitigation measures were fully... Continue Reading →
U.S. oil drilling review proposes higher fees, development curbs
(Reuters) - The Biden administration proposed a slew of changes on Friday to the nation's federal oil and gas leasing program, including hiking fees on drilling companies and limiting their access to sensitive wildlife and cultural zones. The recommendations followed a months-long review aimed at ensuring drilling on federal lands and waters benefits the public.... Continue Reading →
Petrobras clarifies about RLAM news in the media
Petróleo Brasileiro S.A. – Petrobras, regarding the news published in the media about the signing of the final transfer of the Landulpho Alves Refinery (RLAM) to Mubadala, clarifies that, as disclosed on 03/24/2021, it signed with MC Brazil Downstream Participações, a company of the Mubadala Capital group, a contract for the sale of the company's... Continue Reading →
PRE-SALT AUCTION MAY ATTRACT TWO NEW PRODUCERS TO BRAZIL
The auction of surplus volumes from the transfer of rights in the areas of Sépia and Atapu, in the Santos Basin pre-salt, represents, for the oil companies, immediate access to projects in the operational phase and may, depending on the results, attract two new producers. Among the eleven companies qualified for the round, scheduled for... Continue Reading →
Soaring oil & gas demand to catapult well intervention over $14 billion by 2031, Fact.MR says
Offshore oil and gas exploration projects are expected to double the growth of well intervention market, as operators seek to increase production from existing fields amid skyrocketing oil and gas demand. Fact.MR expects the global well intervention market to reach $7.1 billion in 2021 with an increase of 7 per cent CAGR between 2021 and 2031, thus, surpassing $14... Continue Reading →
Keppel Nets $145,8M Orders for FPSO, FSRU Work
Singapore's Keppel Offshore & Marine has won contracts for the conversion of a Floating Storage and Regasification Unit (FSRU) and the integration of a Floating Production Storage and Offloading vessel (FPSO). For the first project, Keppel Shipyard signed a Limited Notice to Proceed (LNTP) with what it said was a global provider of LNG shipping... Continue Reading →
Company Valuations and Climate Strategies are Poles Apart
Companies in the most polluting sectors that have invested in climate action often find themselves valued below peers that have been slower to do so, highlighting the difficulty of getting shareholders to back sustainability. Investors have poured more than $30 trillion into environmental, social and corporate governance (ESG) strategies, data from the Global Sustainable Investment... Continue Reading →
BP Starts Production at Angola’s Platina Oilfield
BP said on Thursday it had started production at the Platina oilfield offshore Angola, helping Africa's second biggest oil exporter slow a decline in output. The Platina field will be linked to BP's existing Greater Plutonio floating production, storage and offloading (FPSO) system in Angola's Block 18 which started up in 2007. It will produce... Continue Reading →
Chevron Venezuela Operations in Limbo
The U.S. is leaving Venezuelan operations of Chevron Corp. and top American oil-service companies at a standstill after President Nicolas Maduro’s socialist party came victorious in regional elections questioned by several Western nations. The U.S. Treasury Department on Wednesday extended until June. 1 its authorization for Chevron, Halliburton Co., Schlumberger, Baker Hughes Co. and Weatherford International Plc... Continue Reading →
Brazil Energy Insight 