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U.S. oil major ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. The oil price war and the sudden and sharp decline in oil prices as well as the global outbreak of the coronavirus have pushed oil and gas operators to reconsider... Continue Reading →
Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits. BP, Exxon Mobil, Kinder Morgan, Motiva Enterprises and Royal Dutch Shell told most office staff to work from home starting... Continue Reading →
March 16, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on 12/23/2019, announces the beginning of the binding phase related to the sale of part of its interest in exploratory blocks belonging to the BM-P-2 concession, located in the Pelotas Basin deep waters, in the state of Rio Grande do... Continue Reading →
In response to the current global macroeconomic and commodity outlook, the U.S.-based oil and gas company Noble Energy has announced its decision to reduce its 2020 expenditure guidance by $550 million. With this decision to cut its spending budget for 2020 as a result of oil market volatility, Noble Energy has joined its peers Apache and Murphy Oil.... Continue Reading →
Mar 12, 2020 Enauta registered the mark of 10 million barrels of oil produced by the Atlanta Field, which positioned the company as the 6th largest oil and gas producer in Brazil at the end of 2019, according to data from the ANP. Such numbers solidify the Consortium's decision to continue with the development of... Continue Reading →
Offshore drilling contractor Pacific Drilling has secured a new contract in Mexico for its drillship Pacific Sharav. The rig owner said on Wednesday that its Pacific Sharav drillship had been awarded a new two-well contract by Murphy in Mexico. The contract also includes one option well. It is scheduled to start in November 2020 and... Continue Reading →
U.S. oil and gas company Murphy Oil has slashed capital spending plans by $500 million citing "current market conditions and recent commodity price volatility." The company plans to preserve dividend payments. Murphy’s revised 2020 budget is approximately $950 million, a 35% downward revision. Continue reading
Guyana has extended the initial deadline in its search for an agent to market its share of oil produced by an Exxon Mobil-led consortium to March 24, the Department of Energy said on Wednesday. Guyana has no domestic refining capacity or national oil company and must sell the crude on the open market. Continue reading
IKM said on Tuesday that the scope had included a pipeline concept study for gas export from the BM-C-33 field to the coast of the Rio de Janeiro state in Brazil. According to the company, this work will be a continuation of the IKM Ocean Design commitment to support Equinor’s major projects with innovative and... Continue Reading →
IKM Ocean Design has been awarded a pipeline study contract by Equinor for its ultra deepwater project in Brazil. The scope includes a pipeline concept study for gas export from the BM-C-33 field to the coast of the Rio de Janeiro state in Brazil. “This work will be a continuation of the IKM Ocean Design... Continue Reading →
Brazil Energy Insight 