Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in accordance with the provisions of Instruction No. 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general that PetroRio Luxembourg S.à.r.l., incorporated under the laws of the Grand Duchy of Luxembourg (“PetroRio... Continue Reading →
France’s Total to face climate plan pressure at investor meeting
(Reuters) Several Total (TOTF.PA) shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure. The International Energy Agency has warned that new fossil fuel projects must stop this year if the world... Continue Reading →
Nigeria Renews Offshore Lease OML 118 with Shell, Total, Exxon, Eni
The Nigerian National Petroleum Corp renewed Oil Mining Lease 118 [Bonga] with the local subsidiaries of Shell, Total, Exxon, and Eni for another 20 years, the West African country’s state oil firm said in a statement on Tuesday. The deal signals the end of “long-standing disputes over the interpretation of the fiscal terms of the... Continue Reading →
Goldman sees oil hitting $80/bbl despite likely return of Iran supply
(Reuters) Goldman Sachs said it expects oil prices to climb to $80 per barrel in the fourth quarter of this year, arguing that the market has underestimated a rebound in demand even with a possible resumption in Iranian supply. "The case for higher oil prices therefore remains intact given the large vaccine-driven increase in demand... Continue Reading →
Talos Best Positioned to Lead Zama Field Development, CEO Says
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 →
Brazil’s oil production rises 4.6% in April vs. March; Petrobras is up 4.4%
(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 →
Colombia’s Oil Industry Is On The Brink Of Collapse
(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 →
IMEMATE FINDS OIL INDICATIONS IN AN ONSHORE WELL IN THE ESPIRITO SANTO BASIN
(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 →
No place for further oil and gas investments in IEA net-zero roadmap
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 →
Renewables evolution or revolution? Pace of tech investments will decide
(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 →
