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(Reuters) - Mexico's environmental regulator has no records of state oil company Pemex reporting a methane leak last December at the country's top oil field, according to the regulator's response to a freedom of information request filed by Reuters. "There are no records" of "a possible incident at the asset Ku-Maloob-Zaap in December 2021," regulator... Continue Reading →
Presidential campaign rhetoric raises fears of return to failed policies (U) Brazilian politicians have a long track record of meddling in the country’s oil and gas sector, particularly on the thorny topic of fuel prices. And with Brazil's presidential elections just around the corner, there are fears that a change in government will bring a... Continue Reading →
(U) The first bid round featuring pre-salt acreage under the permanent offer mechanism will be the last auction of the current four-year term of Brazil’s President Jair Bolsonaro. Scheduled for 16 December, the round has attracted interest from supermajors in the US and Europe, as well as from oil companies in Asia looking for a... Continue Reading →
(U) Brazil’s Prio intends to become one of the largest independent oil and gas companies in the Americas and is counting on more than doubling its production over the next two years to meet that target. With a solid cash position of $1.2 billion, the company is simultaneously developing a pair of clusters in the... Continue Reading →
South American nation could host first offshore wind auction in late 2023 (U) The Brazilian Senate has passed a key bill of law crafted to unlock investments in offshore renewable energy projects in the country. The federal bill, sponsored by Jean Paul Prates, a senator from the opposition Workers’ Party, proposes a regulatory framework for... Continue Reading →
(U) After years of uncertainty and stagnation, the offshore drilling market is making a comeback in 2022, with demand for rigs rebounding around the world. Brazil, one leg of the “golden triangle” of offshore oil and gas — the other two being the Gulf of Mexico and West Africa — is expected to lead rig... Continue Reading →
VAALCO Energy said Monday that the Government of Equatorial Guinea has approved the Venus - Block P Plan of Development (“POD”). VAALCO has an 80% participation interest in the project and is the operator. Upon the execution of final documents, VAALCO will proceed directly to project execution, which targets first oil in 2026 and adds... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 08/16/2022 and 09/08/2022, informs the beginning of the binding phase regarding the sale of 40% of its stake in the BM-POT-17 exploratory concessions, in which the Pitu well Discovery Assessment Plan is being developed (Blocks POT-M-853 and POT-M-855), and the POT-M-762_R15 Concession (Block... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) is uncertain whether it will bid for new offshore areas Guyana wants to explore, a person close to the matter said, as the oil major ramps up production faster than expected and the South American country wrestles with fixing terms of new oil leases. An Exxon-led consortium discovered oil in the... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3:RRRP3), in accordance with the provisions of CVM Resolution No. 44, informs its investors and the market in general that, at a Board of Directors Meeting held on September 8, 2022, was approved the acquisition of shares representing 15% of the capital of 3R Petroleum Offshore S.A.... Continue Reading →
Brazil Energy Insight 