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(Reuters) - Petrobras as well as Chinese oil firms CNOOC and Petrochina were the winners of a Wednesday oil auction that is expected to bring record revenue for Brazil's Pre-Sal Petroleo (PPSA). State-run oil firm Petrobras won two bids, acquiring 12 million barrels from the Mero field and another 2.5 million from Buzios field, while... Continue Reading →
(Reuters) - Hess Corp beat estimates for second-quarter profit on Wednesday, helped by sharply higher oil production in Guyana and stronger prices. The South American country and its lucrative oil assets are at the center of a dispute between Hess, Chevron and Exxon . Last October, Hess agreed to sell itself to Chevron for $53 billion in stock,... Continue Reading →
Brazilian oil and gas companies Enauta and 3R Petroleum have completed all conditions for the previously announced merger, which is set to be finalized on July 31, 2024. The merger follows the memorandum of understanding (MoU) the companies signed in April, involving the integration of Enauta and 3R’s activities, as well as the transactionfor merger... Continue Reading →
(OE) Offshore drilling company Valaris has secured approximately $715 million in new contracts and extensions since its last fleet status report issued three months ago. Contract backlog of $715 million excludes lump sum payments such as mobilization fees and capital reimbursements, according to Valaris, which marked contract backlog increase to approximately $4.3 billion from approximately... Continue Reading →
(OE) Oil and gas company Enauta has completed all subsea system and lines connections with the floating production storage and offloading (FPSO) Atlanta, ahead of first oil production expected in August. Ongoing activities currently include mandatory adaptations by regulatory agencies, final testing, and commissioning, which will conclude the operational activities scheduled to start production on... Continue Reading →
(Reuters) BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail. The result will ease pressure on CEO Murray Auchincloss after BP fell short of profit expectations in the previous two quarters.... Continue Reading →
(OE) Brazilian oil and gas company Enauta has resumed production from the floating production, storage, and offloading (FPSO) vessel operating at Atlanta field, offshore Brazil. Atlanta Field’s production resumed on July 26, and the maintenance period of FPSO Petrojarl I concluded with the option to operate the platform through fourth quarter of 2024. The platform... Continue Reading →
(OE) Strohm has won a contract from TotalEnergies for the supply of thermoplastic composite pipeline (TCP) flowlines for an offshore field located in the Santos Basin, marking the largest commercial award for pipe supply in company’s 16-year history and a first project in the Brazilian pre-salt. Due for installation in 2026 at a water depth... Continue Reading →
(Reuters) - Mexico's state-owned oil company Pemex swung to a 256 billion peso ($14 billion) second-quarter net loss on Friday, red ink the energy giant chalked up to lower sales, a higher cost of sales and large currency exchange losses. The quarterly loss compared to a net profit of more than $25.4 billion in the... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia's huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos told Reuters on Friday. If accepted, the bid would make Petrobras the operator of the Mopane oil and gas field, which has an... Continue Reading →
Brazil Energy Insight 