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Pre-Sal Petróleo published in the Official Gazette of the Union, the notice of the 3rd Union Oil Auction, which will sell more than 55 million barrels of oil owned by the Union in the fields of Búzios, Sapinhoá and Tupi and the Mero Development Area. The auction will take place at B3 on November 26th.... Continue Reading →
Oil and gas producer Wintershall Dea's most closely watched measure of earnings more than doubled in the third quarter, it said on Tuesday, benefiting from soaring oil and gas prices and spending cuts. The company, owned jointly by BASF and Russia's LetterOne, posted earnings before interest, tax, depreciation, amortization, and exploration expenses (EBITDAX) - a... Continue Reading →
(OE) The world’s FPSO fleet is getting older, with 55 FPSO units in the global fleet reaching the end of their design life in the next five years, with an additional five having life extension in place. With 19 more FPSOs currently being evaluated for life extension, safety issues and structural integrity concerns come to... Continue Reading →
The Board of Directors of 3R Petroleum has approved the holding of a public offering of the company's shares. The offering is scheduled for November 4th. -- There will be a primary offering of 36.5 million new shares, with limited efforts, but with the possibility of placing an additional 29.2 million shares. In addition, 3R... Continue Reading →
Portuguese oil company Galp Energia on Monday raised its earnings outlook for 2021 after higher oil prices and positive refining margins buoyed profitability in the third quarter. Galp said its adjusted core earnings or EBITDA in this year as a whole would exceed 2.3 billion euros ($2.7 billion), compared with its previous forecast of 2... Continue Reading →
The Papa-Terra field, in the Campos Basin, which marked the entry of 3R Petroleum in the state of Rio de Janeiro, will increase the company's proven (1P) reserves by around 35%, bringing them to a total 185.1 million barrels of oil equivalent. The company recently received from DeGolyer & MacNaughton the final result of the... Continue Reading →
(OM) Woodside Energy has issued progress reports on its development projects in West Africa and Australia. Offshore Senegal, the first development well for the Sangomar field development Phase 1 has been drilled and completed, including installation of the xmas tree. It was also the first horizontal production well drilled in Senegal, the company said. Phase 1 was recently... Continue Reading →
(Reuters) - Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year, the South American nation's vice president told Reuters. Earlier this year, Indian refiners bought at least two test cargoes of Guyana's Liza light sweet crude. But government-to-government negotiations on a... Continue Reading →
(Bloomberg) -- For all President Jair Bolsonaro’s recent talk of privatizing Brazil’s crown jewel, oil giant Petrobras has struggled even to unload a handful of refineries. And its chances have never looked worse. With global fuel demand still reeling from the pandemic and refineries shutting down elsewhere, Brazil is giving potential buyers another reason for... Continue Reading →
(Reuters) - U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden's administration scrutinizes deals in a bid to tackle soaring energy prices, according to regulatory filings and corporate lawyers. The slowdown comes amid growing pressure on policymakers... Continue Reading →
Brazil Energy Insight 