May 21, 2020 The drilling of the first exploratory well in block C-M-657, in the Campos Basin, will be anticipated from June to May. The activity in the block acquired in the 15th round by Petrobras, in partnership with ExxonMobil and Equinor, will be carried out in the Naru prospect. Seadrill rig chartered by Petrobras... Continue Reading →
Angola’s Oil Exploration Evaporates
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer. The consequences could be grave for a poor country that relies heavily on oil revenues and is saddled with debts that exceed its... Continue Reading →
Wintershall Dea Earnings Drop
German oil and gas company Wintershall Dea reported a sharp drop in earnings in the first quarter of 2020, prompting it to cut costs and reduce oil and gas exploration. Production amounted to 626,000 barrel of oil equivalent per day (mboe/d) in Jan-March, unchanged from the same 2019 period, the company said in a statement... Continue Reading →
Rockhopper Reducing Headcount, Directors’ Salaries
Oil and gas company Rockhopper, with a share in the Sea Lion project off the Falkland Islands, has announced a set of cost-cutting measures which include headcount reductions, and directors' salary reduction. The company said Tuesday that due to the "external events affecting the sector" - meaning low oil prices and the pandemic - it... Continue Reading →
Petronas Farms Out Part of Suriname Offshore Block to Exxon
Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary of ExxonMobil. The offshore block, known as Block 52, is located north of the coast of Paramaribo, Suriname’s capital city, and is situated in the prospective Suriname-Guyana basin where several major hydrocarbon discoveries... Continue Reading →
Equinor Raises Another $1.9 Bln in the Bond Market
Norwegian oil company Equinor has raised 1.75 billion euros ($1.9 billion) in the bond market, it said on Monday, in its latest push to secure long-term funding at a time of weak crude prices. The issue of a six-year 750 million euro bond and a 12-year 1 billion euro bond follow last month's $5 billion... Continue Reading →
Despite COVID-19 and drop in oil prices, PetroRio posts a profit of R $ 44.5 million for 1Q20
May 15, 2020 PetroRio recorded positive indicators in the first quarter, such as the increase in production and reserves and an Adjusted EBITDA of R $ 238.9 million - almost 12x above the R $ 20.2 million obtained in the same period of 2019. Net profit in the period was R $ 44.5 million, despite... Continue Reading →
ENAUTA DELAYS PRICE-TAKING FOR CHARTERING ATLANTA DEFINITIVE FPSO
May 14, 2020 The crisis in the oil industry forced Enauta to change its plans for the Atlanta field, in the Santos basin. The company announced that it has decided to postpone the taking of prices for chartering the definitive FPSO for the field. In addition, the oil company will also reevaluate the design of... Continue Reading →
Descalzi gets third term as Eni chief executive officer
Italian oil major Eni has chosen Claudio Descalzi to be its chief executive officer (CEO) for the third time. The company has also named its new chairwoman and members of board committees. This will be the third term in the role of Eni CEO for Claudio Descalzi where he will also serve as the general manager of... Continue Reading →
HEXICON and GENESIS ECO-ENERGY DEVELOPMENTS join forces for South African offshore wind market exploration
Press Release Swedish floating windfarm developer Hexicon AB announced it has agreed to join forces with the leading South African wind developer Genesis Eco-Energy Developments in order to explore the development of offshore wind. The development programme will be driven via a joint venture company in South Africa that will be named GenesisHexicon (Pty) Ltd.... Continue Reading →
Brazil Energy Insight 