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Inadequate investment in exploration and new drilling may leave the world without enough oil in 20 to 30 years despite a shift towards renewable power sources, top energy analysts say. The long-term outlook contrasts with today's situation where plunging oil demand due to the coronavirus crisis has left the market oversupplied, prompting the Organization of the Petroleum Exporting Countries,... Continue Reading →
Italian oil and gas giant Eni and oilfield services provider Saipem are entering into a collaboration for decarbonization projects in Italy in a push to reduce carbon intensity and achieve CO2 reduction targets. Eni’s CEO, Claudio Descalzi, and Saipem’s CEO, Stefano Cao, on Wednesday signed a Memorandum of Understanding (MoU) to cooperate on the identification and engineering... Continue Reading →
The ANP held today the public session of the 2nd Permanent Offer Cycle. 17 exploratory blocks were purchased in six basins (Campos, Paraná, Amazonas, Espírito Santo, Potiguar and Tucano) and an area with marginal accumulations (Juruá, from the Solimões Basin). Together, the 18 areas will receive minimum investments of more than R$ 160 million. For... Continue Reading →
Petrobras President Roberto Castello Branco defended changes in the rules for oil exploration and production in Brazil, which he classifies as unattractive to business. For him, the sharing regime must be extinguished. Castello Branco participated in an online chat at Rio Oil & Gas, the largest event in the oil and gas sector in Latin... Continue Reading →
(Reuters) - Brazil’s Petrobras could expand its operations into neighboring Guyana, if the regulatory environment does not improve in Brazil, CEO Roberto Castello Branco said on Thursday, the first official admission of interest in the hot frontier oil play. Petroleo Brasileiro SA, as the company is formally known, has exploration interests off Brazil’s northern coast.... Continue Reading →
Oil major BP has begun drilling on the Platina field in Block 18 offshore Angola using Valaris’ DS-12 drillship. Angola’s National Oil, Gas, and Biofuels Agency (ANPG) said last week that BP started drilling at the Platina field, a project that has been waiting to start with execution for several years. The initial date for the start... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on November 27, 2020, regarding the divestment of Petrobras Gás S.A. (Gaspetro), clarifies that the company Compass Gás Energia S.A. (Compass) was not qualified for the continuation of the divestment process of 51% of Gaspetro capital stock for not meeting the requirements of the Commitment... Continue Reading →
After having been suspended due to the adverse scenario of the Covid-19 pandemic, the 17th Concession Round of the National Petroleum Agency (ANP) will be resumed. The event will take place on October 7, 2021. The restart of the usual procedure for organizing the bid was approved this week during the meeting of the ANP... Continue Reading →
Joint venture partners in the Corentyne block offshore Guyana – Frontera Energy and CGX Energy – have concluded collaborative discussions with the Government of Guyana concerning the rescheduling of the work commitments on the block. Frontera said on Friday that the joint venture was committed to completing its exploratory commitments in full, despite operational activities... Continue Reading →
Brazil's potential for power generation with wind farms installed at sea, a technology that is on the rise in the world but still unprecedented in the country, entered the radar of government technicians and companies such as the Norwegian oil company Equinor and the electric company Neoenergia, of the group Spanish Iberdrola. The state-owned Energy... Continue Reading →
