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September 4, 2020 Petróleo Brasileiro S.A. – Petrobras informs the conclusion of the Drill Stem Test (DST) in the area of Júpiter Discovery Assessment Plan, located in the Santos Basin presalt. The Jupiter area belongs to the BM-S-24 concession, in which Petrobras is the operator, with an 80% interest, and was acquired in 2001 in... Continue Reading →
A Mexican government plan to boost the energy sector that could be unveiled in the coming weeks will not likely include any new exploration or production projects open to private or foreign oil firms, the head of an oil sector trade group said Thursday. A possible infrastructure investment plan from President Andres Manuel Lopez Obrador aimed at boosting Mexico's... Continue Reading →
Sept 3, 2020 The Lula field, in the pre-salt of the Santos basin, achieved a feat that is not yet properly recognized internationally: it is today the seventh field with the largest oil production in the world, surpassing emblematic assets in the onshore and offshore of countries like Russia, United States and Iraq. With a... Continue Reading →
Sept 3, 2020 Total started a new environmental licensing process for drilling seven exploratory wells in the area of blocks FZA-M-57, FZA-M-86, FZAM-88, FZA-M-125 and FZA-M-127, in the Basin of Foz do Amazonas. The company was forced to restart the licensing of the projects after the environmental agency dismissed, in April last year, the reconsideration... Continue Reading →
Sept 3, 2020 The Minister of Mines and Energy, Bento Albuquerque, said on Wednesday (2) that Brazil will be able to dispose of the total production planned for pre-salt gas for the next six years, with the forecast for the start-up of the Route 3 at the beginning of 2021. The Petrobras project is the... Continue Reading →
Mexican national oil company Pemex and Hokchi Energy have begun the first stage of unitization negotiations over a possible offshore shared reservoir in the southern Gulf of Mexico, Mexico's energy ministry told Reuters on Wednesday. The ministry said Pemex, formally known as Petroleos Mexicanos, told it in May that an exploratory well it drilled in... Continue Reading →
Sept 2, 2020 Note: The name of Lula field will be changed due to a court decision. In July, the Lula field, in the Santos Basin pre-salt, was the largest producer of oil and natural gas, registering 988 Mbbl / d of oil and 43.2 MMm3 / d of natural gas, totaling accumulated production (... Continue Reading →
3R Petroleum registered with the CVM the IPO request for shares on the Brazilian stock exchange. The objective is to raise funds for new acquisitions of oil fields in Brazil and to sustain investments in the revitalization of assets. Starboard, with a stake in the private equity fund Apollo, holds 52.3% of the capital of... Continue Reading →
As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy companies were spending billions of dollars on major oil and gas assets and costly drilling... Continue Reading →
Brazil’s lower house is set to vote on Tuesday to pass a bill that can further open up the natural gas market to private investors by breaking the monopoly held by state-controlled oil company Petroleo Brasileiro S.A. - Petrobras. If approved, the law could reduce natural gas prices in Brazil, says Congressman Laercio Oliveira, who... Continue Reading →
Brazil Energy Insight 