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(Reuters) A Mexican judge has ordered a partial provisional suspension of new hydrocarbons legislation championed by President Andres Manuel Lopez Obrador that gave the state authority to revoke permits, a court document seen by Reuters showed on Monday. The decision suspended certain parts of the law that strengthens state oil company Petroleos Mexicanos (Pemex), which... Continue Reading →
McDermott, an offshore engineering and construction firm, has been chosen by Australia's BHP Billiton, in collaboration with Mexico's Pemex, to provide Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion field develpment offshore Mexico. The semi-sub floater will be designed for a water depth of approximately 8,200 feet (2,500 meters)... Continue Reading →
Brazilian oil company Enauta has chartered an anchor handling tug and supply vessel from Norway's Solstad Offshore. Solstad Offshore said Tuesday it had struck a deal with Enauta for the charter of the 2006-built AHTS Normand Turmalina (previously known as BOS Turmalina). Enauta will continue using the vessel it first chartered back in August 2017... Continue Reading →
(Reuters) Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo Chavez came to power, equivalent to 3.4 million barrels per day (bpd), a document seen by Reuters shows. In the February 2021 document entitled "Investment Opportunities," Petroleos de Venezuela's (PDVSA.UL)... Continue Reading →
Petro Rio S.A. (“Company” or “PetroRio”), following best corporate governance practices, informs its shareholders and the market in general about the drilling in the Polvo Field’s (“Polvo”) Eocene reservoir, which resulted in a well (“POL-K”) with initial production of 2,500 barrels of oil per day, still in the assessment period. This highly satisfying result, following... Continue Reading →
Occidental Petroleum (OXY) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $0.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 54.55%. A quarter ago, it was... Continue Reading →
Equinor has awarded CGG a major contract for the seismic imaging of its Bacalhau 3D ocean bottom node (OBN) survey covering 409 sq km currently being acquired in Brazil’s deepwater Santos Basin. The project is already underway at CGG’s Rio de Janeiro subsurface imaging center where its team is using imaging technologies, including reverse time migration, time-lag... Continue Reading →
Tullow Oil's $1.8 billion bond, which was launched to help it manage a $2.4 billion debt pile, drew more interest from investors than expected after the Africa-focused producer's financial overhaul, the chief executive said on Friday. Rahul Dhir also told Reuters the firm did not plan to sell more oil and gas fields after disposing... Continue Reading →
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 →
