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Sept. 16 (oilprice.com) Argentina's controversial right-wing president, Javier Milei, slashed inflation with a brutal dose of economic austerity, but this came at a steep social cost. The cost of living is spiraling higher, fueling household debt, loan delinquencies, and economic hardship. Industrial output, since Milei took office, has declined sharply, with local companies closing at... Continue Reading →
Sept. 17 - Petrobras informs that its wholly-owned subsidiary Petrobras Netherlands B.V. (PNBV) has signed, with the Republic of Côte d’Ivoire and PETROCI Holding, Production Sharing Contracts (PSCs) for eight offshore exploration blocks located in the Republic of Côte d’Ivoire. The PSCs cover the offshore blocks CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702. Petrobras, through PNBV,... Continue Reading →
Sept. 10 - ANP (National Agency of Petroleum, Natural Gas and Biofuels) announced that bp has begun drilling the first well in the Tupinambá block, located in the pre-salt area of the Santos Basin. Drilling operations commenced on September 8, four days after Ibama issued the license authorizing an exploratory campaign of up to three... Continue Reading →
Sept 4 (Reuters) - Italian oil company Eni has improved its chances of recovering more than $2.3 billion owed by Venezuela with the signing this week of a new oil project deal in the country, analysts said on Friday. After nearly three decades in Venezuela, Eni has accumulated those receivables from state-owned oil group PDVSA. As Washington and... Continue Reading →
Aug. 31 (OE) Eni has, together with MIWEN (a wholly owned subsidiary of YPF) and the Uruguayan National Oil Company ANCAP, signed an official agreement for the entry in the OFF-5 exploration block offshore Uruguay, following approval by the Uruguayan authorities. Eni is now the operator of the OFF-5 block with a 50% interest, alongside... Continue Reading →
Aug 31 (Reuters) - A massive long-term oil deal expected to grant the U.S. access to a fifth of Venezuela's crude reserves has energy experts and lawyers questioning its legality and eventual execution, while calling on both governments for contract transparency. The unprecedented pact, announced by U.S. President Donald Trump on Friday and confirmed by Venezuela's interim... Continue Reading →
Aug 29 (Reuters) - Venezuelan interim President Delcy Rodriguez said on Saturday that an energy agreement with the U.S. would remain in force for 25 years, target an increase in crude output to 1.5 million barrels per day (bpd) and preserve the country's sovereignty over its natural resources. Rodriguez hailed the accord in a late-night address as... Continue Reading →
Aug. 27 (oilprice.com) The Trump administration is reportedly in active discussions with Venezuela’s interim government to acquire a direct U.S. ownership stake in key Venezuelan oil fields. According to senior U.S. officials cited by Axios, the talks involve equity stakes in a select group of high-yield fields containing approximately 90 billion barrels of proven crude—a transaction... Continue Reading →
Aug. 27 (oilprice.com) Alongside boosting exploration and production offshore its home market Norway, Equinor is pursuing an international growth strategy, aiming to significantly increase its overseas oil and gas output by focusing on fewer but more lucrative regions such as the U.S., Brazil, and Angola. In recent years, Equinor has streamlined and high-graded its portfolio... Continue Reading →
Aug. 26 (oilprice.com) Norway’s energy major Equinor hopes to make a “pretty big” oil discovery offshore Namibia, the global exploration hotspot it has just entered, a senior company official said on Tuesday. Equinor hopes that the Petroleum Exploration License 90 (PEL 90) offshore Namibia could hold a big discovery similar to those TotalEnergies and Galp... Continue Reading →
