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May 5, 2020 ANP published the Monthly Bulletin of Oil and Natural Gas Production with detailed data for March 2020. This month, 3,739 MMboe / d (million barrels of oil equivalent per day) were produced, of which 2,973 MMbbl / d ( million barrels per day) of oil and 122 MMm3 / d (million m3... Continue Reading →
Spain's Repsol reported a 28% fall in first-quarter profit on Tuesday, becoming the latest oil and gas company to show the deep damage done to its balance sheet by the coronavirus laying waste to energy demand. Oil prices fell 65% in the period as restrictions on movement to halt the spread of the virus paralyzed... Continue Reading →
Eni has not found oil at its Ehecatl-1 exploration well in Block 7, offshore Mexico, Cairn, a partner in the project has said. Cairn said on Tuesday operations had been completed at the Eni-operated Ehecatl-1 exploration well in the Sureste Basin. Cairn has a 30% working interest in the offshore block through its subsidiary Capricorn... Continue Reading →
French energy major Total promised to pay a steady cash dividend and said it can break even with low oil prices after the impact of the coronavirus outbreak and a collapse in fuel demand led to a 35% first-quarter profit fall. It also raised its climate ambitions, saying it aims to reach net-zero emissions from... Continue Reading →
Thai energy company PTT Exploration and Production Pcl said on Monday its joint venture had made two deep-water oil discoveries in the Salina Basin, offshore Mexico. The Mexican subsidiary of PTTEP, Thailand's largest oil and gas producer, and three partners including the Mexican subsidiary of Spain's Repsol SA, will be assessing commercial potential of the... Continue Reading →
Guyana has no plans to cut crude output despite a plunge in oil prices, the government's top energy official said on Monday, adding that shutting down production could prove costly and harm future output. Mark Bynoe, the director of the Department of Energy, said the country's crude production averages between 75,000-80,000 barrels per day (bpd)... Continue Reading →
May 4, 2020 ABESPetro and IBP are committed to seeking joint solutions to overcome the unprecedented crisis in the oil and gas industry. If, on the one hand, the focus on adopting measures to preserve the health of employees is a consensus between the two main entities in the sector, on the other, disagreements on... Continue Reading →
Mexican state oil company Pemex, hammered by a collapse in crude prices and a sharp depreciation of the Mexican peso, on Thursday posted a multibillion-dollar quarterly loss that was far wider than losses a year earlier. Losses during the first quarter of 2020 totaled $23.6 billion (562.13 billion peso), likely the company’s biggest ever quarterly... Continue Reading →
Chevron Corp (CVX.N) on Friday slashed its capital spending plans by another $2 billion as the coronavirus pandemic guts demand for oil and gas, while delivering a year-over-year 38% increase in profits. Global fuel demand has crashed by a third while many people shelter at home for an indefinite period. Major oil companies have largely... Continue Reading →
Exxon Mobil Corp (XOM.N) on Friday joined a parade of oil companies posting downbeat results on plunging oil demand and collapsing prices, reporting a $610 million first-quarter loss after a nearly $3 billion inventory writedown. Global fuel demand has tumbled by a third on coronavirus-related lockdowns and business shutdowns. Oil giants largely have reported losses... Continue Reading →
Brazil Energy Insight 