Brought to you by Quest Offshore & Southern Cone Consultants
November 21, 2019 Impact of Campos Basin redevelopment on production, royalties and employment was discussed during the public hearing. With a little over 40 years of operation, the Campos Basin faces a drop in production. It has already been responsible for over 80% of national oil activity. Today, the Campos Basin is responsible for 48%... Continue Reading →
UK’s Labour Party plans to impose a reported £11bn windfall tax on oil companies, and to delist from the London Stock Exchange those companies that don’t help with climate change, its general election 2019 manifesto launched Thursday reveals. “We will introduce a windfall tax on oil companies so that the companies that knowingly damaged our... Continue Reading →
Exxon Mobil had the outlook on its top-notch debt rating lowered by Moody’s Investors Service Inc. to negative due to a “substantial” cash burn to fund growth. The oil major’s credit metrics will probably weaken over the next few years as it pursues a rebuild of its upstream portfolio, as well as new chemical facilities... Continue Reading →
Nov 19, 2019 The ANP granted Rosneft another four years (until 2023) to complete the second stage of the minimum exploratory programs (MEPs) of blocks SOL-T-151, SOL-T-174, SOL-T-197, SOL-T-214, SOL-T-215, SOL-T-216 and SOL-T-217 in the Solimões Basin. Asset Discovery Assessment Plans (DAPs) were also extended by the agency, with deadlines now ranging from 2020 to... Continue Reading →
Suppliers of drilling and subsea services and equipment may already be feeling the partial lift offered by West African nation Angola clearing offshore investment bottlenecks. On Monday, Bergen-based subsea cable layer, Oceanteam, announced its vessel, or CSV BO 101, had been hired to hang around the Angolan offshore a little longer. Client Total extended the charter contract... Continue Reading →
Oil and natural gas producer China National Offshore Oil Corporation (CNOOC) has promoted its executive director and president to the position of the chief executive officer (CEO). CNOOC said that its executive director and president Xu Keqiang was appointed as the CEO of the company with effect from November 19. Continue reading
The global oil and gas supermajors are looking to sell assets that could bring in a total of $27.5 billion, according to energy intelligence firm Rystad Energy. The intelligence firm said on Monday that these companies were actively shedding mature assets on a massive scale to finance higher-yielding investments elsewhere. The sale of mature assets... Continue Reading →
French multinational integrated oil and gas company Total and consortium partners have announced first oil from the Iara licence (Block BM-S-11A) in the deepwater Santos Basin pre-salt in Brazil. The first oil marks the start-up of the FPSO P-68, the first of the two floating production, storage and offloading units (FPSO) already launched and to... Continue Reading →
Dutch floater specialists, SBM Offshore—the company that has secured a contract with ExxonMobil Guyana, for the construction of several Floating, Production, Storage and Offloading Vessels (FPSO)—has reported double digit profit margins, earning more than $1.4B already for this year. This, in addition to a still to be accessed loan facility for another US$1.1B—the good news... Continue Reading →
Self-funded Growing Business Adds Light Oil Production, Proven Reserves, Low Breakeven Cashflow, Low Risk Development Opportunities, Significant Exploration Resources, Strategic Acreage, New Basin Entry, Carried Exploration Drilling, Cross-border Pipeline, New Partnerships, and Operating and Commercial Synergies Continue reading
Brazil Energy Insight 