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Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. In one of the oil industry's biggest alleged scandals, Italian prosecutors allege Eni and Shell acquired a... Continue Reading →
Colombia's state-run oil firm Ecopetrol has hired Doris Inc. for the provision of Consulting Engineering Services. The scope includes including studies, engineering, and support during the execution of offshore oil and gas developments. The contract is for a five-year period. Doris did not provide the financial details on the deal. Continue reading
Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand caused by the coronavirus pandemic. The rise reflects Brazil’s growing clout among global oil producers as its massive... Continue Reading →
An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month, according to a person with knowledge of the matter and data from Refinitiv Eikon. The FPSO facility (floating production, storage and offloading), which has... Continue Reading →
U.S. oil major Chevron has agreed to buy with Noble Energy, in an all-stock transaction valued at $5 billion, or $10.38 per share. Based on Chevron’s closing price on July 17, 2020 and under the terms of the agreement, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share. The total... Continue Reading →
July 20, 2020 The oil company Enauta reported estimate average daily production from the Atlanta field at 23,000 barrels of oil for 2020, according to a press release. For 2021, production in Atlanta, in the Santos Basin, should drop to 18,000 bpd, projected Enauta, emphasizing that the estimates have a negative or positive variation margin... Continue Reading →
Jul 17, 2020 Among the units licensed by Petrobras are four with a capacity to produce 225,000 bopd On Thursday (7/15), Petrobras requested a license from Ibama for the implementation of 12 FPSOs in the Santos Basin pre-salt and the reactivation of an FPSO in Mero (“FPSO Mero FR”). There are four new units for... Continue Reading →
Jul 16, 2020 The Oil and Gas Climate Initiative (OGCI), a group made up of large oil companies to respond to the O&G industry's global change, announced today a new emission reduction target. The consortium aims to reduce from 20 kg to 21 kg of CO2 for each barrel of equivalent oil sold in the... Continue Reading →
The global economy will not achieve a V-shaped recovery after the coronavirus epidemic, which will curtail oil and gas demand for years, Royal Dutch Shell's chief executive said. Ben van Beurden told an online interview with IHS Markit Chairman Dan Yergin that it was too early to know if demand for oil had peaked. Continue... Continue Reading →
Jul 17, 2020 BP Energy initiated the licensing of an exploratory well in the BM-C-35 block, in the Campos Basin. It intends to start the campaign in August 2022 and the well is part of the commitment made to the ANP in the Discovery Assessment Plan (PAD) of the Basilisco prospect. After Petrobras' decision to... Continue Reading →
Brazil Energy Insight 