Mexico's oil regulator said on Tuesday the country's total proven oil reserves as of Jan. 1 stood at 8.062 billion barrels of oil equivalent (boe), up 2.1% from a year earlier. Oil reserves as of the beginning of 2019 totaled 7.897 billion boe. Proven oil reserves are certified discoveries containing a combination of liquid and... Continue Reading →
Ocyan Aims for Bigger Offshore Platforms to Cement Comeback
Offshore oil industry supplier Ocyan plans to participate in bids for much bigger platforms than it currently has in Brazilian waters, the world’s largest market for floating platforms, Chief Executive Roberto Bischoff told Reuters. He said Ocyan is eyeing contracts potentially worth hundreds of millions of dollars for deepwater platforms serving state-run oil company Petroleo... Continue Reading →
Twelve companies dispute the Petrobras Bahia LNG terminal
August 4, 2020 Twelve companies, some from the same business group, were prequalified to dispute the lease of the Petrobras LNG terminal in Bahia, according to the call for prequalified agents, published by the company. Proposals are scheduled to be open on September 30. Petrobras will lease the terminal until December 2023, with no provision... Continue Reading →
Oil exports from Brazil more than doubled in July
Aug 4, 2020 (Reuters) - Brazilian oil exports more than doubled in July to 8.19 million tonnes, compared to 3.76 million tonnes shipped a year earlier, according to data from the federal government released on Monday, following the exchange rate and firm demand from China. The volume was the second highest in 2020, behind only... Continue Reading →
The outbreak, the oil price, and the rig market: it’s what happens next that counts – Bassoe
Blame Covid-19, the oil price or both in equal measures. Either way, the offshore rig industry will need to adapt. Just last week during Saipem’s quarterly results presentation, CEO, Stefano Cao, was asked an interesting question that appears to be at the forefront of many minds in the oil and gas industry just now. Cao was... Continue Reading →
PetroRio – 2Q20 EARNINGS RELEASE
August 03, 2020 Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3) announces its 2Q20 earnings. Highlights for the Quarter Message from Management “In one of the most challenging and unprecedented quarters in the oil and gas industry’s history, PetroRio has had the opportunity to establish itself as one of the most resilient companies in its... Continue Reading →
PetroRio – CLOSING OF THE TUBARÃO MARTELO ACQUISITION
August 3, 2020 Petro Rio S.A., (the “Company” or “PetroRio”) (B3: PRIO3), informs its shareholders and the market in general that, in addition the Material Fact of February 3, 2020, the National Petroleum Agency (“ANP”) granted, on this date, effectiveness to the the amendments to the concession agreement in connection to the rights (“farm-in”)... Continue Reading →
BP halves dividend after record loss, speeds up reinvention
BP (BP.L) cut its dividend for the first time in a decade after a record $6.7 billion second-quarter loss, when the coronavirus crisis hammered fuel demand, and it sought to win over investors by speeding up its reinvention as a lower carbon company. Its shares rose more than 7% on Tuesday after BP unveiled earlier... Continue Reading →
Irfaan Ali Sworn In as New President of Oil-Rich Guyana
Former Guyanese housing minister Irfaan Ali was sworn in as president of the newly oil-producing South American country on Sunday, after he was declared winner of a disputed March 2 election following a recount. Preliminary recount data released in June showed Ali, a member of the opposition People's Progressive Party (PPP), had won the initial... Continue Reading →
Challenges of the new downstream scenario in Brazil
July 31, 2020 The downstream segment in Brazil is experiencing a unique moment in its history. The oil refining activity is going through a period of transition to a framework with a greater plurality of agents, more open and dynamic, with numerous planning and regulatory challenges. The Brazilian refining park has a daily oil processing... Continue Reading →
Brazil Energy Insight 