Petrobras started a new exploratory campaign on the coast of Espírito Santo. The company started drilling a well in the offshore block ES-M-669, in a water depth of 2,366 meters, where it believes there is potential for pre-salt in the region. The ES-M-669 block was acquired during the 11th Bidding Round, held in 2013 by... Continue Reading →
Petrobras on the production start-up of Mero 1
Petróleo Brasileiro S.A. – Petrobras informs that the production expected to start from Mero 1, through FPSO Guanabara, was postponed from the 4th quarter of 2021 to the 1st quarter of 2022. The FPSO will be installed in the Mero field, which belongs to the Libra Block, in the Santos Basin pre-salt area, with a processing... Continue Reading →
3R Petroleum: Oil production at Polo Macau rises 5.3% in March
The production of Polo Macau, operated by 3R Petroleum in the Potiguar basin (RN), rose 5.3% in March, to 4,866 barrels of oil per day, according to preliminary and unaudited information from the oil company. The average production of natural gas, however, fell slightly, from 910 million cubic meters per day to 902 million m³... Continue Reading →
Shell flags likely fall in first-quarter fuel sales
(Reuters) - Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter, the world’s biggest fuel retailer said on Wednesday, indicating fuel demand recovery has remained slow amid coronavirus restrictions. In a trading update, Shell said it saw refined oil product sales at 3.7-4.7 million barrels... Continue Reading →
Former Gunvor employee pleads guilty in Petroecuador bribery case
(Reuters) -A Canadian man once employed by the commodities trading house Gunvor Group pleaded guilty on Tuesday to involvement in what U.S. prosecutors called a scheme to bribe Ecuadorean government officials to win business from state-controlled oil company Petroecuador. Raymond Kohut, 68, entered his plea to a money laundering conspiracy charge before U.S. District Judge... Continue Reading →
Vitol $85 billion revenue hit offset by trading profits
(Reuters) - Global energy trader Vitol suffered an $85 billion fall in revenue last year, but its profits were boosted as trading plays offset the impact of the COVID-19 pandemic on oil demand and prices. Many traders benefited in 2020 from extreme oil price volatility and storage opportunities. In April last year, U.S. light sweet... Continue Reading →
Eni to tie-in new oil discovery in Angola to FPSO
Italian oil and gas company Eni has made a new light oil discovery in Block 15/06, which is located in Angola’s deep offshore. Eni expects to start production from the well within six months through a fast-track tie-in to the Armada Olombendo FPSO. Eni said in an update on Tuesday that the well has been... Continue Reading →
Petrobras increases investments in the North of Brazil
Petróleo Brasileiro S.A. – Petrobras announces that today it signed agreements with BP Energy do Brasil Ltda (BP) to take over BP's entire stakes in six blocks, located in ultra-deep water in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin. The six blocks... Continue Reading →
Winds of Change: How Enel and Iberdrola Powered Up for the Energy Transition
Europe's biggest utilities Enel and Iberdrola saw the clean energy transition coming decades ago when others baulked at the high cost of producing energy from the sun and wind and instead stuck with coal and oil. Thanks to early decisions to buy power grids and build renewable plants, the once-staid utilities are now among a... Continue Reading →
Tullow Starts Multi-well Drilling Program Offshore Ghana
Oil and gas company Tullow Oil on Tuesday said it was starting a multi-year, multi-well drilling campaign offshore Ghana. The campaign started with the start of drilling of the first well at the Jubilee offshore field on Monday. Maersk Drilling's Maersk Venturer drillship is expected to drill four wells in total in 2021, consisting of... Continue Reading →
Brazil Energy Insight 