Record Annual Oil and Gas Production up 31% Extending Consistent 15-Year Growth Track Record More Than 85% Drill Bit Success Acquisition of Key Colombian Llanos 34 Interests GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru,... Continue Reading →
M&A: Oil majors jockey for position to ride an LNG boom
Firms are reshuffling their portfolios in favour of gas ahead of the looming energy inflection point Although gas may not dominate energy supply for another 10-20 years or more, the industry is looking over the horizon. Following on from a series of liquefied-natural-gas-driven M&As that included ExxonMobil's acquisition of a 25% stake in Mozambique Area... Continue Reading →
Oil majors’ strategies are variations on a theme
The majors' plans for 2019 look remarkably similar on the surface, but there are key differences Share price performance since the start of 2016 would seem to suggest that the majors have been taking radically different approaches. BP and Shell have been tearaway successes (see Fig1.), ExxonMobil and Eni have lagged and Total and Chevron... Continue Reading →
Oil transhipment operations at Porto do Açu in 2018 increased by 235% compared to 2017
1/16/19 With the completion of 40 oil transhipment operations in 2018, Açu Petróleo , the partnership between Prumo Logística and Oiltanking , which operates in Porto do Açu, had a 235% increase compared to operations carried out in 2017. The company has totaled 61 operations since the beginning of its activities, and this rapid growth... Continue Reading →
Nomination to the Board of Directors of Petrobras
Rio de Janeiro, January 16, 2019 - Petróleo Brasileiro SA - Petrobras informs that it received a letter from Mr. John Milne Albuquerque Forman resigning from his nomination, by the controlling shareholder, to be a member of the Company's Board of Directors, as disclosed in a press release of 01/14/2019. Forman thanked for the invitation... Continue Reading →
Brazil ethanol pipeline owner eyes corn-based fuel makers
Logum, the company operating Brazil’s sole ethanol pipeline, is looking to expand the system into central Brazil to reach more plants and possibly the nascent corn-based ethanol industry, which is expected to grow. Chief Executive Wagner Biasoli told Reuters Logum has secured financing for an expansion to link new mills in the state of Minas... Continue Reading →
Ocean Infinity to provide AUV surveys for Petrobras
Ocean Infinity, a seabed survey and ocean exploration company, has informed that its partner, Cepemais, the Brazilian offshore consulting company, has been awarded a contract to provide high-resolution hydrographic mapping services to Petrobras. Ocean Infinity said on Tuesday, January 15 that the project was for the Campos, Espirito Santo and Santos basins, offshore Brazil, and... Continue Reading →
Petrobras 2018 oil and natural gas production
Rio de Janeiro, January 15, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that in 2018, its total production of oil and gas, including natural gas liquids (NGL), was 2.63 million barrels of oil equivalent per day (boed), of which 2.53 million boed produced in Brazil and 101,000 boed abroad. Petrobras’ own production of oil... Continue Reading →
Exclusive: Brazil grid operator wants 662 GE transformers removed after explosions
Brazil’s power system operator has requested that 662 transformers made by General Electric Co (GE.N) be removed from the country’s grid after a number of explosions involving the devices, according to document seen by Reuters. The document, which was prepared by Brazil’s grid operator ONS and submitted to the Ministry of Mines and Energy in... Continue Reading →
Bolsonaro nominee to Petrobras board fined in 2016 for insider trading
One of three new board members nominated by the Brazilian government to sit on the board of state-run oil company Petroleo Brasileiro SA (PETR4.SA) was previously fined by securities regulator CVM for insider trading, according to documents seen by Reuters. The disclosure raises tough questions for new far-right President Jair Bolsonaro and Petrobras Chief Executive... Continue Reading →
