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The pre salt Buzios field produced 709,697 Mboe/d (one thousand barrels of oil equivalent per day) in September, with 566,196 Mbbl/d of oil and 22,815 MMm3 of natural gas. As of this month, the field's production began to be assigned to two separate contracts, one for transfer of rights and the other for sharing, arising... Continue Reading →
The list of the first companies that were approved for the second auction of surpluses from the Transfer of Rights, scheduled for December 17th, was released. The Special Bidding Commission of the National Petroleum Agency (CEL/ANP) gave the approval to eight companies during a meeting held this week. According to the regulatory body, the list... Continue Reading →
Completion of the tieback between the Polvo and Tubarão Martelo fields, in the Campos Basin, allowed for a reduction in operating costs ("OPEX") of US$ 50 million per year The third quarter results evidenced PetroRio's successful strategy of increasing production levels and rationalizing costs, with excellence in environmental responsibility, safety and operational efficiency. The largest... Continue Reading →
(PetroleoHoje) ExxonMobil is planning higher capex for the year 2022 due to the Yellowtail and Bacalhau projects, located in Guyana and Brazil, respectively, said senior vice president and CFO Kathy Mikells. If approved by Exxon's board of directors, next year's capex will jump from the current level of $16 billion to $19 billion to $20... Continue Reading →
(Bloomberg) --As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the Covid-19 pandemic, according to BP Plc. Fossil fuel consumption is recovering despite growing urgency in the effort to curb emissions of greenhouse gases. The resurgence... Continue Reading →
(WO) - Ugandan President Yoweri Museveni is counting on TotalEnergies SE and CNOOC Ltd. to produce oil from its fields in four years, laying the foundation for a new regional fuel hub. The East African nation expects to reach daily output of 230,000 barrels. While that’s much less than what Africa’s biggest producer, Nigeria, pumps,... Continue Reading →
Offshore installation and construction company McDermott has signed a memorandum of understanding with Shell Eastern Petroleum Pte Ltd (Shell), a subsidiary of Shell, to collaborate on decarbonizing construction. "The agreement enables McDermott and Shell to explore opportunities for reducing, and eliminating, emissions from construction through pathways such as low carbon fuels, renewable power, digital solutions and... Continue Reading →
Italian oil and gas company Eni is increasing its renewables investments and has now acquired a 20% stake in the 1.2GW Dogger Bank C offshore wind project in the UK, by acquiring a 10% stake from each Equinor and SSE. With the acquisition, Eni has now become Equinor's and SSE's partner in all three phases... Continue Reading →
Guyana plans to auction new blocks for offshore oil exploration by the third quarter of 2022, Vice President Bharrat Jagdeo said late on Monday. A consortium led by Exxon Mobil is responsible for all output in Guyana, Latin America's new oil frontier, since the vast Stabroek block began producing in 2019. About 10 billion barrels... Continue Reading →
(Reuters) - Venezuela's oil exports last month surpassed 700,000 barrels per day (bpd) as supplies of imported diluents boosted production and shipments, according to documents from state-run firm PDVSA and Refinitiv Eikon tracking data. The OPEC-member country's largest oil producing region has regained its output and blending capacity in recent weeks after Iran, one of... Continue Reading →
Brazil Energy Insight 