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U.S.-based oil company Talos Energy, working on a unitization agreement for the giant Zama offshore oil discovery in Mexico with the Mexican oil company Pemex, hopes the final solution will see the company lead the development of the field as the operator, and that the parties would realize "true percentages" in the Zama field. Talos... Continue Reading →
(Reuters) Oil production in Brazil up 4.6% in April compared to the previous month, to 2.97 million barrels per day (bpd), in the second consecutive monthly increase, data from the National Agency of Petroleum, Natural Gas and Biofuels pointed out. (ANP), with advances from Petrobras and Shell. In comparison with April 2020, there was an... Continue Reading →
(Oilprice) Colombia’s oil industry is yet again under considerable pressure, despite the national government in Bogota attempting to reactivate the economically crucial sector. The March 2020 oil price crash, COVID-19 pandemic, rising security risk and now significant political turmoil are weighing heavily on the oil industry’s performance. After a rough 2020 where Colombia’s five-month long... Continue Reading →
(PetroNoticias) Imetame notified the National Petroleum Agency (ANP) about the discovery of oil evidence in the Sintonia prospectus (1-IMET-28-ES), within the ES-T-441 block, located on the terrestrial part of the Espírito Santo Basin. Exploratory activity in the region began in April. Block ES-T-441 was fully purchased by Imetame in 2018, during the 14th Bidding Round... Continue Reading →
The International Energy Agency’s (IEA) has announced the world’s first comprehensive study on how to transition to a net-zero energy system by 2050. According to the IEA, climate pledges by governments to date – even if fully achieved – would fall well short of what is required to bring global energy-related carbon dioxide (CO2) emissions to net-zero... Continue Reading →
(Reuters) Global investment in energy transition technologies needs to more than double over the next few decades to significantly reduce the cost of renewables, which are set to provide around 60% of the world’s energy needs by 2030, industry officials say. A breakthrough in commercial technology to decarbonise projects could reduce both project time and... Continue Reading →
(Reuters) Europe's biggest wind power group Iberdrola (IBE.MC) reaffirmed its 2021 growth outlook on Wednesday after reporting rising quarterly earnings supported by rapid building of renewable energy plants and investments in networks. Buoyed by a global shift towards the low-carbon energy sources it has been investing in for two decades, northern Spain-based Iberdrola plans to almost triple... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 03/16/2021, informs that the negotiation with the company Proquigel Química S.A. for the leasing of the TermoCamaçari Thermoelectric Plant (UTE TermoCamaçari), located in the state of Bahia, has ended unsuccessfully. Thus, the company will begin the decommissioning process of UTE TermoCamaçari, whose concession... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Executive Board approved, on today's date, the execution of amendments to the Commitment Terms (TCCs) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the negotiations for the effective conclusion of the negotiation processes and signing of... Continue Reading →
(Reuters) A Mexican judge has ordered a partial provisional suspension of new hydrocarbons legislation championed by President Andres Manuel Lopez Obrador that gave the state authority to revoke permits, a court document seen by Reuters showed on Monday. The decision suspended certain parts of the law that strengthens state oil company Petroleos Mexicanos (Pemex), which... Continue Reading →
Brazil Energy Insight 