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Even as Mexico’s president and Pemex’s CEO touted the country’s most important find in three decades, it appears to be far from a panacea for the beleaguered state driller. Pemex called the Quesqui deposit -- which is believed to contain 500 million barrels of proven, probable and possible, or 3P reserves -- the most important... Continue Reading →
Tullow Oil and its joint venture partners in the Orinduik Block located offshore Guyana have elected to enter the next exploration phase of the Orinduik Petroleum Agreement signed on January 14, 2016, and have submitted their official notice to the Department of Energy of the Government of Guyana. The JV Partners are Eco Atlantic (15%... Continue Reading →
Brazil will push to expand oil drilling in its massive “pre-salt” oil and gas area off its coast in spite of growing global concerns about climate change, the country’s energy minister told Reuters on Monday. Brazil’s Mines and Energy Minister Bento Albuquerque spoke on the sidelines of a climate summit underway in Madrid where UN... Continue Reading →
Norway’s Equinor has awarded Archer a new four-year contract for the provision of platform drilling management services on the Peregrino field development on the Peregrino A and B platforms located offshore Brazil. Archer said on Monday that the contract is effective from December 1, 2020. The new four-year contract awarded will be in direct continuation... Continue Reading →
Shares in oil and gas company Tullow Oil tanked on Monday morning after the company announced the departure of its chief executive and exploration director as well as plans to reduce capital expenditures and suspend the dividend. Paul McDade, Tullow Chief Executive Officer, and Angus McCoss, Exploration Director, have resigned from the board of Tullow by... Continue Reading →
Mexican state oil company Pemex said on Friday it has discovered a deposit in southeastern Mexico that could yield 500 million barrels of crude, calling it the largest such finding in more than 30 years. Pemex said it first discovered the field in Tabasco state in May, before beginning studies to evaluate its viability. The... Continue Reading →
Exxon Mobil Corporation XOM is planning to commence a 31-well exploration campaign offshore Guyana, per Argus. The company has submitted requests to the Environmental Protection Agency of Guyana for this drilling program, which will be executed in the Stabroek, Kaieteur and Canje blocks. Drilling from these three blocks is not expected to have any significant impact... Continue Reading →
Big oil companies operating in Mexico have launched a drive to convince leftist President Andres Manuel Lopez Obrador to resume auctions of oil and gas contracts he has branded a failure in reviving the industry. Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell Plc, among other firms in Mexico's Association of Hydrocarbon Companies (Amexhi),... Continue Reading →
AET Tankers, a subsidiary of Malaysia’s maritime solutions and services provider MISC Berhad, has been awarded three long-term time charter contracts by Brazil Shipping I Limited, a Shell group entity. Under the terms of the deal, AET will own and operate three newbuilding Suezmax Class dynamic positioning (DP) shuttle tankers for operations in international and... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore has signed contract extensions for two platform supply vessels (PSVs) with Equinor in Brazil. Solstad said on Friday that the contract extensions were awarded to the Far Scotsman and Sea Brasil vessels. The contract for Far Scotsman is extended by two years, while Sea Brasil is extended by one... Continue Reading →
Brazil Energy Insight 