3R Petroleum's Board of Directors approved the price per share of R$33.00 for the oil company's share offering. The Board also approved the effective increase in the company's capital stock in the total amount of R$ 2,168,100,000.00, through the issuance of 65,700,000 new common, registered, book-entry shares with no par value. Within the scope of... Continue Reading →
PETRO RIO ON THE ALBACORA DIVESTMENT PROCESS
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in accordance with art. 26 of the Novo Mercado Regulation, informs the market and its shareholders that the consortiums in which it participates have been chosen to begin exclusive negotiations of the final terms of the Sales and Purchase Agreements and other transaction documents in the divestment... Continue Reading →
In the first month of the Co-Participation Agreement, Búzios produces 709.7 Mboe/d
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 FIRST COMPANIES APPROVED FOR THE AUCTION OF SURPLUS VOLUMES OF SEPIA AND ATAPU ON DECEMBER 17
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 →
PetroRio reports net income of R$125 million in the third quarter of 2021
Completion of the tieback between the Polvo and Tubarão Martelo fields, in the Campos Basin, allowed for a reduction in operating costs ("OPEX") of US$ 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 →
EXXONMOBIL WILL INVEST MORE IN GUYANA AND BRAZIL
(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 →
BP says global oil demand has passed 100 million barrels per day
(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 →
Uganda counts on TotalEnergies, CNOOC to create new African oil hub
(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 →
McDermott, Shell in MoU to Decarbonize Construction
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 →
Eni Acquires 20% Stake in Third Phase of World’s Largest Offshore Wind Project
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 →
Brazil Energy Insight 