(Reuters) - Malaysian state energy giant Petronas (PETR.UL) announced a flip to a second-quarter profit on Friday on the back of a recovery in prices and demand, but said it will be a "long, drawn out process" before the industry returns to pre-pandemic levels. Petronas, or Petroliam Nasional Berhad, posted a post-tax profit of 9.6... Continue Reading →
PETROBRAS STARTS DRILLING THE FIRST ARAM WELL IN THE PRE-SALT OF THE SANTOS BASIN
(PetroNoticias) Petrobras started drilling a wildcat well in the Aram block, in the pre-salt of the Santos Basin. The activity is being carried out in a water depth of 1,904 meters by the drillship Brava Star, from Constellation. The information was released by the National Petroleum Agency (ANP). The Aram block is operated by Petrobras... Continue Reading →
ExxonMobil gearing up to spud third well in Canje block
Oil major ExxonMobil is preparing to start drilling operations on its third well in the Canje Block offshore Guyana this year, using a Stena Drilling-owned drillship. In an update on Thursday, Westmount Energy noted the announcement by the Maritime Administration Department, Guyana, dated 25 August 2021, that the Stena DrillMAX drillship will start drilling operations at... Continue Reading →
Offshore energy will power the world: 2021-2040 FPSO forecast – Special Focus
(World Oil) Operators are strategically navigating the changing dynamics of the energy market with continued investment in the floating offshore sector. The offshore energy market is in flux. Economic effects from the Covid-19 pandemic, changing global attitudes toward energy, and the growing importance of ESG matters have disrupted the ways that companies do business. Although... Continue Reading →
Brazil’s Enauta in Exclusive Talks with Yinson for “New” Atlanta Field FPSO
Brazilian oil company Enauta said Thursday it has signed a Memorandum of Understanding (MoU) with Malaysia's FPSO specialist Yinson for direct and exclusive negotiation of FPSO supply contracts for the "Definitive System" of the Atlanta field in the Santos Basin, offshore Brazil. Enauta has been producing oil from the field using the FPSO Petrojarl I... Continue Reading →
PetroChina aims for even split for oil, gas, green energies by 2035
(Reuters) - PetroChina (601857.SS)aims to have oil, gas and green energies to each account for a third of its portfolio by 2035, it said on Thursday, as the Chinese oil major shifts toward a lower-carbon future. For PetroChina, Asia's largest oil and gas producer, natural gas currently accounts for about 47% of total output and oil... Continue Reading →
Analysis: Venezuela sees refinery debt swap as model for future deals
(Reuters) - Venezuela's socialist government sees the swap it made last week of shares in a Dominican oil refinery for defaulted bonds as a possible model for future deals, as it seeks to mend ties with creditors, four people familiar with the operation said. Such debt-for-equity swaps are common in corporate bankruptcy proceedings and have... Continue Reading →
Fitch: Platform Fire Puts Dent in Pemex’s Output Plans
A deadly accident on an offshore platform belonging to Mexican state oil company Pemex "may slow" the company's production growth rate, ratings agency Fitch said in a statement on Tuesday, after officials confirmed a sharp hit to output. The rating agency warning follows the weekend incident in the southern Gulf of Mexico which engulfed in... Continue Reading →
ANP approves Karoon registration in the 17th Round
The ANP's Special Bidding Commission (CEL) approved the registration of the Australian oil company Karoon in the 17th round, scheduled to take place on 7 October. The company is the seventh approved by the agency to participate in the auction, which will offer areas in the Campos, Santos, Pelotas and Potiguar basins. -- Last week,... Continue Reading →
BW Energy hits oil pay offshore Gabon
E&P company BW Energy has made an oil discovery in the Hibiscus North exploration well (DHBNM-1) in the Dussafu Block offshore Gabon. The well is located approximately 6 km north-northeast of the Hibiscus discovery well DHIBM-1 in approximately 115 metres of water depth. The company announced the spudding of the well on 28 July 2021. The well... Continue Reading →
Brazil Energy Insight 