Apache Corporation has gathered further reservoir and technical data from its Kwaskwasi-1 discovery well located in Block 58 offshore Suriname and started drilling at another location within the block. Apache announced a major oil discovery at the Kwaskwasi-1 well drilled in Block 58 in late July 2020. The Kwaskwasi-1 was drilled to a depth of approximately... Continue Reading →
BP: Fossil Fuel Demand to Take Historic Hit Amid COVID-19 Scars
Sept 14, 2020 Fossil fuel consumption is set to shrink for the first time in modern history as climate policies boost renewable energy while the coronavirus epidemic leaves a lasting effect on global energy demand, BP said in a forecast. BP's 2020 benchmark Energy Outlook underpins Chief Executive Bernard Looney's new strategy to "reinvent" the... Continue Reading →
Petrobras on E&P assets binding phase in Espírito Santo Basin
September 11, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated June 10, 2020, informs the beginning of the binding phase regarding the sale of a part of its interest in the exploratory blocks, belonging to the concessions ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11, located in the Espírito Santo Basin. Potential buyers... Continue Reading →
ExxonMobil requests extension of drilling plan on Titã in Santos Basin
Sept 11, 2020 The ANP board approved the review of the exploration plan for the Titã block, located in the Santos Basin pre-salt. The drilling of an exploratory well, initially planned for this year, was postponed to 2021. The extension was requested by ExxonMobil, the block's operator. “ExxonMobil cites economic impacts imposed by the pandemic... Continue Reading →
Siem Offshore gets two-year deal for two vessels in Brazil
Sept 11, 2020 Offshore vessel provider Siem Offshore has been awarded contracts for two of its vessels by Total for operations in Brazil. Siem Offshore said on Friday that the Siem Atlas and Siem Giant vessels have each been awarded a two-year contract with two yearly options. Both vessels will start the contract in September... Continue Reading →
MME on Petrobras divestments in oil and natural gas exploration and production assets
Sept 10, 2020 Petrobras has been announcing to the market the sale of several oil and natural gas exploration and production assets, especially fields located on land or in shallow waters. The Ministry of Mines and Energy (MME) clarifies that the decision rests exclusively with the Company and is part of its strategy of portfolio... Continue Reading →
Natural gas is losing its luster as a “bridge fuel” to renewable energy
Sept 10, 2020 Even the cleanest fossil fuel is losing its appeal to rich nations. Just a few years ago, natural gas was hailed as vital for the transition toward an economy that runs on renewable energy. But sentiment is changing and the fuel is going the same way as coal, its dirtier sibling shunned... Continue Reading →
ANP APPROVES SALE OF 30% OF PETROBRAS IN THE FRADE FIELD TO PETRORIO
Sept 10, 2020 The board of the National Petroleum Agency (ANP) gave the go-ahead this afternoon (10) for Petrobras to sell its 30% stake in the Frade field to PetroRio. The transaction raised US $ 100 million and was announced at the end of last year. PetroRio awaited the approval of the deal by the... Continue Reading →
PETRO RIO MATERIAL FACT – OFFERING OF SENIOR NOTES
September 10, 2020 Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in compliance with the provisions of Law No. 6,404, of December 15, 1976, as amended, and the Securities and Exchange Commission (“CVM”) Instruction No. 358, of January 3, 2002, as amended, informs its shareholders and the market in general of a proposed offering of... Continue Reading →
Elliott attempting to prevent Chevron’s takeover of Noble Energy
September 10, 2020, by Bojan Lepic Paul Singer’s investment management firm Elliott Management will push for Noble Energy to abandon plans to sell itself to oil major Chevron, believing that the deal undervalues the oil and gas producer. Paul Singer; Source: Elliott Bloomberg said in an article on Wednesday, quoting people familiar with the matter, that Elliott... Continue Reading →
