Mexico has begun removing staff from Gulf of Mexico oil platforms to limit the spread of the coronavirus, leaving essential personnel on board, state oil firm Petroleos Mexicanos (Pemex) said on Sunday. Pemex said in a statement that workers had started coming off the rigs as Mexico implements stricter measures to combat the coronavirus since... Continue Reading →
Angola Says Producer Cuts Insufficient, More Action Needed
Angola sees an oil production curb by OPEC, its allies and other top producers as insufficient to balance global markets, state news agency ANGOP quoted resources and petroleum minister Diamantino Azevedo as saying on Friday. "It is up to everyone to understand that, despite the measures taken by OPEC, oil producers in various countries should... Continue Reading →
Energy Platform (EnP) is interested in onshore exploratory areas in Espírito Santo and Parnaíba – Marcio Felix
In the midst of a pandemic, newly created Energy Platform (EnP) is qualifying as operator C to participate in the permanent auction of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), which currently has 54 companies registered. This is the strategy set up by the company for the acquisition of onshore exploratory areas... Continue Reading →
Eni Slashes Output, Spending Targets
Italian energy group Eni lowered its forecast for production and investments on Friday as the coronavirus crisis has driven down oil and gas demand and hammered crude prices. In a statement on first-quarter results, it said it would spend about 30% less this year than planned and expected production to be 1.75 million-1.8 million barrels... Continue Reading →
Oil Storage Crunch May Affect Guyana Crude Shipments
Oil shipments from nascent crude producer Guyana's prolific Liza field could be affected by a growing storage glut that has contributed to plunging global crude prices, the country's director of energy said. A consortium led by Exxon Mobil began producing crude from the offshore field in December after discovering more than 8 billion barrels of... Continue Reading →
Chevron Barred from Drilling, Transporting Oil in Venezuela
Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are "mothballed" as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said on Wednesday. The restriction is expected to further reduce Venezuela's crude output, which has fallen... Continue Reading →
Equinor slashes quarterly cash dividend by two thirds
Norwegian oil major Equinor has decided on a cash dividend of $0.09 per share for the first quarter of 2020, a reduction of 67 per cent compared to the fourth quarter of 2019. As stated in Equinor’s dividend policy, when deciding on upcoming dividend payments it takes into consideration expected cash flow, capital expenditure plans,... Continue Reading →
Equinor makes changes in exploration leadership
Norwegian oil and gas major Equinor has appointed a new acting executive vice president of its Exploration division as the current one will be taking on another role within the company. Equinor said on Wednesday that Tim Dodson would step down from the position of executive vice president of exploration, a role he held since 2011, and... Continue Reading →
30+ Companies Compete for Guyana Crude Trading Deal
More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest for a contract to market the Guyanese government's share of the country's crude, the government said on Tuesday. The National Procurement and Tender Board administration unveiled... Continue Reading →
ExxonMobil charters drill ship for Brazil
Apr 22, 2020 After a long period of negotiations, ExxonMobil signed a contract with Seadrill to charter the drill ship West Saturn, which will be responsible for resuming its exploratory activity in Brazil. The value of the contract was not disclosed, but it is estimated that the daily rate agreed was around US $ 250... Continue Reading →
Brazil Energy Insight 