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Petrobras received the environmental license to carry out 4D maritime seismic survey in the Sapinhoá field, in the Santos Basin pre-salt. In the installation part of Nodes (seismic sensors installed on the seabed), the Subsea Viking vessel will be used. In addition, one of the following seismic source vessels will also be employed: Hugin Explorer,... Continue Reading →
(Reuters) Petrobras has reopened bidding for its Golfinho offshore oilfield cluster, two sources told Reuters this week, following a rise in crude prices over the last several months. Golfinho is one of dozens of legacy production assets that Petroleo Brasileiro SA, as the firm is formally known, is selling to reduce debt and sharpen its... Continue Reading →
BW Energy, an Oslo-listed oil firm, said Thursday that the drilling of the Hibiscus Extension appraisal well DHIBM-2 in the Dussafu Marin license in Gabon had fallen short of expectations, hitting water instead of oil. "The primary objective of the well was to test the northern extension of the Gamba Sandstone reservoir of the Hibiscus... Continue Reading →
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday. Its updated models show renewables meeting 74% of total energy demand by 2050, compared to 43%, 45% and 69% in the most aggressive... Continue Reading →
French oil major Total has started oil production from the Zinia Phase 2 project offshore Angola, connected to the existing Pazflor FPSO. The Zinia Phase 2 project includes the drilling of nine wells and is expected to reach a production of 40,000 barrels of oil per day by mid-2022. Located in water depths from 600... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina reports its consolidated financial results for the three-month period (“First Quarter” or “1Q2021”). A conference call to discuss 1Q2021 financial results will... Continue Reading →
(epbr) The Company raised R$ 1.1 billion on the stock exchange with a share price of R$ 14.75. The value was defined below the initial indicative price range, from R$ 15.50 to R$ 19.50. Negotiations at B3 begin on Wednesday (5). - The objective is the acquisition of upstream mature assets. About 66% of the... Continue Reading →
Colombia's majority state-owned oil company Ecopetrol on Tuesday reported a soaring first-quarter net profit of 3.09 trillion pesos ($806.5 million) for this year, buoyed by improved oil prices and with the backdrop of a dismal comparative period in 2020. The oil company reported a net profit of 133 billion pesos in the first quarter of 2020, following a global slump in oil prices... Continue Reading →
ConocoPhillips reported first-quarter profit that beat Wall Street expectations on Tuesday as vaccines-led return of travel demand and a winter storm that swept parts of the United States in February boosted prices for oil and gas. Higher crude prices and deep cost cuts implemented last year at the peak of a downturn are helping U.S.... Continue Reading →
State-run oil producer Saudi Aramco beat analysts' forecasts on Tuesday with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices. Earnings by global energy companies such as Exxon Mobil have climbed on the back of rising crude prices, which are up by about a third this year,... Continue Reading →
Brazil Energy Insight 