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Spain's Repsol on Thursday reported a 36% fall in adjusted net profit and a net loss for the fourth quarter of 2019, battered on all sides by lower oil and gas prices and one-off charges mainly related to a bid to cut carbon emissions. Oil majors around the world have posted steep falls in 2019... Continue Reading →
The market for floating production, storage and offloading units (FPSO) is heating up. Séverine Baudic, SBM Offshore’s Managing Director for Floating Production Solutions, weighs in on the strategic initiatives and technological innovations helping the company to secure contracts for some of the world’s most complex deepwater projects. When it comes to reducing lead times and... Continue Reading →
Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday. Natural gas production increased 22% over January 2019 to 138.7 million cubic meters per... Continue Reading →
Feb 19, 2020 Total started last Tuesday (18) the environmental licensing in Ibama of five wells, two exploratory and three for evaluation, in the area of exploratory block C-M-541, in the Campos Basin pre-salt. The company signed the concession contract for the area, where it has a partnership with Petronas and QPI, last Friday with... Continue Reading →
February 19, 2019 According to an executive of the JV with Petrobras, goal is to increase the recovery factor of the largest field in the country Petrobras should drill at least ten new wells in the Lula field, in the Santos Basin, said Galp's Upstream Operations director, Thore E. Kristiansen, during a conference with analysts... Continue Reading →
Just weeks into his young administration, Argentina’s new president convened a meeting with executives from Chevron Corp (CVX.N), Royal Dutch Shell PLC (RDSa.L) and other oil companies in a bid to smooth things over with an industry which he had slammed as a candidate months before. Campaigning last year against the South American country’s former... Continue Reading →
Guyana produced 35,607 barrels per day (bpd) of oil in December, following the inauguration of production in the country by a consortium led by U.S. oil major Exxon Mobil Corp, the finance ministry said in a report. Exxon has discovered more than 8 billion barrels off the coast of Guyana, a poor South American country with no... Continue Reading →
i-Tech 7, Subsea 7’s Life of Field business unit, and Shell have entered into a collaborative technology agreement to accelerate subsea digitalisation, initially for a period of five years from the fourth quarter of 2019. The agreement will help fast-track innovation and streamline the adoption of applied technologies in areas such as marine robotics, advanced... Continue Reading →
Mexican national oil company Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of priority exploration and production projects, the state-owned company's chief executive said. CEO Octavio Romero said on the sidelines of an energy event in Ciudad del Carmen, home to numerous Pemex installations in... Continue Reading →
Global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade. According to Rystad Energy research, recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells. Continue reading
Brazil Energy Insight 