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The physical oil market, where millions of barrels of real cargoes are traded each day, needed OPEC+’s historic cuts to global crude production months ago. On Sunday, producer nations pledged to limit output by an unprecedented 10% of global supply. While there’s skepticism the cuts will prove deep enough -- demand has plunged by far... Continue Reading →
Apr 15, 2020 The activities for the second phase of development of Equinor's Peregrino field, in the Campos Basin, were delayed by approximately two months, according to two sources with knowledge of the subject, in view of logistical difficulties related to the new coronavirus. Peregrino is Equinor's largest offshore operation outside Norway and currently produces... Continue Reading →
There have been 126 confirmed cases of the coronavirus among oil and gas workers in Brazil, including 74 people who were recently on offshore oil platforms, regulator ANP told Reuters on Tuesday, exposing an outbreak far worse than previously thought. The regulator said via email that as of Monday evening there were another 897 suspected... Continue Reading →
April 14, 2020 The ANP has postponed the deadline for submitting the declarations of commerciality of the discovery assessment plans (PADs) of Quindim (1-BRSA-936D-ESS) and Brigadeiro (1-BRSA-926D-ESS), in block ES-M-525 , in the Espirito Santo Basin. Petrobras, operator of the block, will have another 785 days, counting from July 8, 2019, to deliver declarations of... Continue Reading →
Apr 14, 2020 The federal government created a new program that aims to modify the rules of the next auctions for oil and gas fields in Brazil. The information is contained in a decree published in today's edition of the Diário de Oficial da União. The text says that the objective is “to increase the... Continue Reading →
OPEC, Russia, and allies are on the verge of ending the oil price war in an effort to save the oil industry which, in addition to the oil price war consequences, suffered even more as the coronavirus pandemic further curbed the oil demand, creating a whirlwind of adverse effects. However, the allies are still waiting... Continue Reading →
APR 7, 2020 The National Petroleum Agency (ANP) announced on Tuesday (7) a series of flexibilities for companies operating in the oil and gas fields. One of them is the postponement of activities foreseen in the Annual Work Program (PAT) of oil companies in 2020 for up to one year. PAT is the set of... Continue Reading →
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash. Payara's startup had been slated for "as early as 2023" and was expected to eventually produce... Continue Reading →
03 April 2020, ANP published the Monthly Bulletin of Oil and Natural Gas Production with detailed data for February 2020. This month, 3,783 MMboe / d (million barrels of oil equivalent per day) were produced, of which 2,972 MMbbl / d (million barrels per day) of oil and 129 MMm3 / d (million m3 per... Continue Reading →
APR 6, 2020 The new secretary of Petroleum, Natural Gas and Biofuels, José Mauro Ferreira, is a former director of the Energy Research Company (EPE). The appointment was published in the Official Gazette (DOU) today. Ferreira holds a bachelor's degree in Industrial Chemistry, a Master's in Materials Engineering from the Military Engineering Institute (IME) and... Continue Reading →
