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Offshore drilling contractor Borr Drilling has received notices of early termination for several of its drilling rig contracts, but it has also been awarded new contracts for its rigs. As a result, Borr’s total revenue backlog has been impacted negatively by about $16 million. Borr said in an update on Monday it had been awarded... Continue Reading →
At least one worker at Mexican state oil company Pemex's Abkatun-A processing center, in shallow waters in the Gulf of Mexico, has been diagnosed with coronavirus, two people with knowledge of the matter told Reuters. At the end of last week, executives from Abkatun-A reported internally that 21 workers, including the doctor on staff, had... Continue Reading →
Apr 13, 2020 Chinese oil company put stake in concession operated by Petrobras for sale. Sinopec has started farm-out of its 20% stake in the BM-PAMA-8 concession in the Pará-Maranhão Basin. Purchased in the 6th ANP Concession Round, the asset comprises blocks PAMA-M-192 and PAMA-M-194, with a total area of 1,538 thousand km². Source: PetroleoHoje
APR 9, 2020 Petrobrás has notified Enauta and PetroRio, its partners in the Manati field, that the current situation in the Covid-19 pandemic may affect the state's commitment to buy natural gas from the asset. To better understand, it is necessary to remember that the Manati field is operated by Petrobrás (35%), in partnership with... Continue Reading →
Global oil producers and refiners are struggling with a series of unprecedented dislocations as the simultaneous epidemic and volume war between Saudi Arabia and Russia rip through every element of the supply chain. Some idea of the extraordinary speed and scale of the disruptions was evident in the "Weekly Petroleum Status Report" published by the... Continue Reading →
Offshore drilling contractor Noble Corporation has backtracked on its 2020 guidance announced in February, citing the recent sharp decline of oil price due to the oil oversupply and drop in demand caused by COVID-19, as the reason. Noble Corp, a provider of drilling services to oil and gas companies, said Thursday that it expected the... Continue Reading →
Offshore accommodation rig provider Prosafe is in talks with clients over contract amendments for its flotels. These might see some of the rigs going off-hire. Prosafe, the world's largest operator of semi-submersible accommodation vessels, said Thursday it was "in dialogue with clients regarding potential temporary off-hire and/or potential contract amendments." Continue reading
APR 7, 2020 The National Petroleum Agency (ANP) announced on Tuesday (7) a series of flexibilities for companies operating in the oil and gas fields. One of them is the postponement of activities foreseen in the Annual Work Program (PAT) of oil companies in 2020 for up to one year. PAT is the set of... Continue Reading →
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash. Payara's startup had been slated for "as early as 2023" and was expected to eventually produce... Continue Reading →
Oil major ExxonMobil is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. Capital investments for 2020 are now expected to be about $23 billion, down from the previously announced $33 billion,... Continue Reading →
Brazil Energy Insight 