Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) A Venezuelan floating oil facility that had been listing in recent weeks is upright and shows no sign of sinking, but plans to offload crude from the vessel posed some risks, the energy minister of neighboring Trinidad and Tobago said on Thursday. A team of experts from Trinidad inspected the Nabarima facility on Tuesday... Continue Reading →
Mexican Energy Minister Rocio Nahle said on Monday so called farmouts, or joint ventures, could be done with state oil firm Petroleos Mexicanos if feasible projects are put forward, marking a potential shift from her previous skepticism. Nahle, one of the staunchest defenders of President Andres Manuel Lopez Obrador's drive for a more statist energy... Continue Reading →
(Reuters) - BP BP.L swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and continued to weigh on fuel demand and refining profits. The London-based company said that while fuel demand in Asia, particularly in China, was recovering, global consumption remained weak so far in... Continue Reading →
Booming crude production in the region is helping to offset financial shock caused by Covid-19 Production growth has slowed to a crawl for much of the global oil sector this year. Subdued commodity prices and persistent market volatility have incentivised producers to slash capex and focus on the profitability of existing output until better economic... Continue Reading →
Australian oil and gas player Karoon Energy has appointed Dr Julian Fowles its as Chief Executive Officer and Managing Director. Karoon announced the resignation of its CEO and MD Robert Hosking at the end of July 2020 with effect from Karoon’s annual general meeting. Karoon said on Monday that Dr Fowles will start with Karoon immediately... Continue Reading →
News in exploratory activity in the Campos Basin. Petrobras started drilling the first well in block C-M-411 this week. The operation is being carried out with the West Tellus drillship, in a water depth of 2,953 meters. The pioneer well was named after the technical name 1-BRSA-1377-RJS. As a reminder, block CM-411 was purchased by... Continue Reading →
Industries are adapting to an increasingly digitalized landscape. The floating production, storage and offloading (FPSO) industry is no different. As concerted efforts are made to improve project economics Matt Tremblay, ABS Senior Vice President, Global Offshore, discusses how digitalization can increase safety, reduce costs, and build robust technical and operational capabilities. No one could have... Continue Reading →
(Bloomberg) --Canadian oil prices are poised to strengthen next year as Mexican heavy crude exports to U.S. Gulf Coast refineries dwindle, according to BMO Capital Markets. Heavy Western Canadian Select’s discount to the West Texas Intermediate benchmark could narrow to $5 to $7 a barrel next year, BMO said in a report Wednesday. Oil sands... Continue Reading →
Australian oil and gas company Karoon Energy said Friday that the Brazilian national oil regulator ANP had approved, with conditions, Karoon's acquisition of the Bauna offshore field from Petrobras. The field is located in shallow waters in the Santos Basin in concession BM-S-40, 50-60km from Karoon’s Neon and Goiá discoveries, and 50km from Karoon’s Clorita... Continue Reading →
(Reuters) - Exxon Mobil Corp XOM.N is "very close" to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email on Wednesday. The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six months and analysts forecast a... Continue Reading →
Brazil Energy Insight 