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Apache Corp and its joint venture partner Total on Wednesday said they had made their third oil discovery offshore Suriname. The "major oil discovery" was made at the Kwaskwasi-1 well drilled by the Noble Sam Croft in Block 58, where Apache is operator and holds 50% working interest and Total holds the other 50%. Continue... Continue Reading →
French energy group Total will book an exceptional impairment charge of $8 billion mainly on its Canadian oil sands and liquefied natural gas projects, it said on Wednesday. "Overall, the exceptional asset impairments that will therefore be taken into account in the second quarter of 2020 amount to $8.1 billion, including $7 billon on Canadian... Continue Reading →
The U.S. oil major ExxonMobil has recently discovered two more high-quality oil reservoirs offshore Guyana, Hess, the company's partner in the prolific Stabroek block said Wednesday. To remind, back in January, ExxonMobil said it had struck its 16th oil discovery in the offshore block in Guyana, boosting recoverable resource base in Guyana to more than... Continue Reading →
U.S. oil and gas producer Hess Corp reported a bigger quarterly loss on Wednesday, hurt by lower oil prices as the COVID-19 pandemic sapped global energy demand. Crude prices sank to historic lows in April as economic activity plummeted across the world due to coronavirus lockdowns and a price war between the world's top producers... Continue Reading →
London-listed oil and gas exploration and production firm Tullow Oil expects to hire an offshore drilling rig soon for drilling operation in Suriname. The company said Monday that the drilling of the Goliathberg-Voltzberg North prospect (GVN-1) in the offshore Block 47 is now planned for the first quarter of 2021. Continue reading
May 29, 2020 Petrobras will return the Discovery Assessment Plan (PAD) area of well 1-BRSA-1143D-ESS, called São Bernardo, located in the BM-ES-22A concession, in the ES-M-527 block, in the Espírito Santo Basin Holy. The asset is operated by the state-owned company, with a 75% stake, in partnership with Equinor (25%), which bought Vale's stake in... Continue Reading →
Australian oil and gas company Karoon Energy has said that its founder and CEO Robert Hosking will step down after 16 years at the helm. The company, with oil and gas projects in Australia, Peru, and Brazil, said Wednesday that Hosking had informed it of its decision to retire at the 2020 Annual General Meeting.... Continue Reading →
Tullow Oil said on Wednesday it was set to book $1.4-1.7 billion in impairments before tax in its half-year results, as it follows larger rivals in lowering its oil price forecasts. Tullow, which had a market capitalization of around $508 million after markets closed on Tuesday, had $3 billion in net debt and untapped liquidity... Continue Reading →
July 28, 2020 Galp has revised its portfolio in the Potiguar Basin and plans to exit “some licenses”, declared the oil company's operations director, Thore Kristiansen, in a conference with investors on Monday (27/7). According to the executive, most of the operating impairments recognized in the quarter, of € 93 million, correspond to assets in... Continue Reading →
Equinor has short-listed four internal candidates to succeed Chief Executive Eldar Saetre who is likely to announce his departure within the next few months, a source familiar with the process told Reuters. The candidates have been asked to present their views on how to speed up the Norwegian oil and gas group's transformation towards becoming... Continue Reading →
Brazil Energy Insight 