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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 →
(ANP) Published today the Monthly Bulletin of the Production of Oil and Natural Gas of the ANP of the month of March 2021, with consolidated data of the national production in the period. For the first time, production in the Santos Basin surpassed 70% of national production, registering its largest relative share in the historical... Continue Reading →
(epbr) ExxonMobil plans to start drilling in deep waters of the Sergipe-Alagoas Basin in the second half of 2021, said Alberto Ferrin, vice president of the oil company in Brazil. The company is licensing 11 exploratory wells in the basin, in areas of the 13th, 14th and 15th bidding rounds of the ANP, when it... Continue Reading →
