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A former head of Mexico’s PEMEX is testifying that lawmakers were bribed to pass a 2014 reform that opened the energy sector to private investment, President Andres Manuel Lopez Obrador said on Friday. Lopez Obrador said that Emilio Lozoya, who was extradited from Spain this month to face corruption charges in Mexico, is shining light... Continue Reading →
July 27, 2020 Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake in the exploratory portion of the Tayrona Block, located in the Guajira Basin, Colombia. The teaser, which includes key information about the opportunity, as well as the eligibility criteria for... Continue Reading →
\ July 24, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 24, 2019, informs that, due to the impact caused by the COVID-19 pandemic and the difficulty to address the previous conditions initially defined, in common agreement with Karoon Petróleo & Gás Ltda (Karoon), a subsidiary of Karoon Energy... Continue Reading →
A worsening political crisis risks slowing the pace of oil sector growth in the small Latin American nation Any hope that Guyana’s recent election would settle the country’s broiling political turmoil always looked optimistic. And so it has proved. Four months on from the poll, neither of the two main parties has conceded defeat and the impasse threatens... Continue Reading →
2Q20 EARNINGS RELEASE AND CONFERENCE CALL SCHEDULE Rio de Janeiro, July 23, 2020 – Petro Rio S.A. [B3: PRIO3] announces 2Q20 Earnings Release Conference Call schedule: 2Q20 EARNINGS RELEASE August 03, 2020 (after market hours) All information will be available on our website (ri.petroriosa.com.br/en/) CONFERENCE CALL WILL BE HELD IN PORTUGUESE WITH SIMULTANEOUS TRANSLATION... Continue Reading →
Exxon Mobil Corp said on Thursday it had named its former Qatar country manager as the chief of its operations in Guyana, a South American country that just started producing crude last year and is seen as key to the company's future. Alastair Routledge takes over after the company, as part of a consortium with Hess Corp... Continue Reading →
Global oil and gas project sanctioning is set for a monstrous 75% plus drop in 2020 from 2019 levels, as the Covid-19 pandemic has led to massive E&P spending cuts, the energy intelligence company Rystad Energy has estimated. According to Rystad Energy, the total sanctioning value will end up at around $47 billion, an amount... Continue Reading →
Norwegian oil and gas giant Equinor sank to the red in the second quarter of the year as its revenues were halved amid Covid-19 pandemic and low oil prices. Equinor on Friday reports adjusted earnings of $0.35 billion, down from $3.15 billion in the same period in 2019 Adjusted earnings after tax were $0.65 billion... Continue Reading →
Havila said on Friday it has entered into a three-year bareboat contract with OceanPact Netherlands B.V. for the operation of the subsea vessel Havila Harmony in Brazil. Founded in 2007, OceanPact is dedicated to consultancy, management, and operation of oil spill response in coastal and offshore environments. It is one of the largest oil spill... Continue Reading →
Spanish oil and gas firm Repsol posted a quarterly net loss and wrote down $1.5 billion in assets on Thursday as it revised down unusually high expectations for oil and gas prices over the next 30 years. The demand-sapping COVID-19 crisis has piled pressure on a sector already battered by oil prices dragged down by... Continue Reading →
Brazil Energy Insight 