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(Bloomberg) -- Petroleos Mexicanos discovered what’s expected to be a billion-barrel oil field in Tabasco as it aims to reverse a decade and a half of sinking production. The new field at the southern part of the Gulf of Mexico, when combined with nearby deposits, is similar in size to other billion-barrel discoveries, Pemex Chief... Continue Reading →
The government of Guyana has granted an extension to the term of the Tullow Oil-operated Orinduik offshore block that will see the block partners maintain control of the block until 2023. According to Eco Atlantic, Tullow Oil's partner in the offshore block, the joint venture partners in respect of the Orinduik Block offshore Guyana have... Continue Reading →
Guyana, a country that has become a deepwater oil and gas exploration hotspot mostly due to a string of discoveries made by ExxonMobil in recent years, is set for a record year when it comes to the number of offshore wells expected to be drilled in 2021, Rystad Energy said in a report Friday. Rystad... Continue Reading →
Offshore drilling contractor Noble Corporation has recently secured several drilling contracts and its CEO says there has been an uptick in tender activity in various markets. The company, which in February completed its financial restructuring and emerged from Chapter 11 for which it had filed in August 2020, on Thursday released its fleet status report showing... Continue Reading →
(Reuters) - Royal Dutch Shell, owner of the world’s largest fuel retail network, said on Thursday its total greenhouse gas emissions dropped 16% in 2020 as oil and gas sales fell sharply due to the coronavirus pandemic. Shell said in its annual report that total emissions from its oil wells to forecourt fuel sales fell... Continue Reading →
(Reuters) - BP’s trading arm made nearly $4 billion in 2020, according to a copy of an internal BP presentation seen by Reuters, almost equalling the record trading profit in 2019 despite the collapse in oil demand caused by the pandemic. Trading revenue for majors such as BP and rival Royal Dutch/Shell shielded them from... Continue Reading →
Oil major ExxonMobil is waiting on equipment arrival from Germany to Guyana to complete the repairs on the Liza Destiny FPSO, due to issues that started in late January 2021. As previously reported, ExxonMobil experienced technical issues with a gas compressor on the SBM Offshore-owned FPSO Liza Destiny, which is working on the oil major’s Liza field... Continue Reading →
Petrobras' exploratory campaign in the Campos Basin has new developments. This time, the state-owned company started drilling another well (1-BRSA-1378-RJS) in the region, inside block C-M-709, in a water depth of 2,840 meters. The information was made available by the National Petroleum Agency (ANP). Block C-M-709 is operated by Petrobras (40%), in partnership with ExxonMobil... Continue Reading →
(Reuters) - Chevron Corp on Tuesday outlined a plan to expand oil and gas production through 2025, but without spending significantly more, and pledged to limit the pace of growth of its carbon emissions. Falling energy demand due to pandemic-driven lockdowns sent the industry into a tailspin in 2020 and led Chevron to a $5.54... Continue Reading →
Fugro is carrying out seep survey and geochemical campaign for Petronas in Block 48, offshore Suriname. Petronas hired the Dutch-based surveyor in order to optimise future exploration activities in this frontier area. The work, conducted from the survey vessel MV Fugro Brasilis, involves geophysical data collection; heat flow measurements; core sampling as well as onboard geochemical... Continue Reading →
Brazil Energy Insight 