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The oil and gas industry in Brazil saw an expressive 700% growth in the number of mergers and acquisitions in the first half of the year compared to the same period in 2020. According to a survey carried out by KPMG, the sector had 16 operations in January and June 2021. Last year, at the... Continue Reading →
(Reuters) - Oil prices edged higher on Thursday, supported by a sharp decline in U.S. crude stocks and a weaker dollar, though gains were capped by an OPEC+ decision to stick to its policy of gradually increasing output. Brent crude was up 45 cents, or 0.6%, at $72.04 a barrel by 1101 GMT and West... Continue Reading →
(Reuters - Oil prices steadied near $71 a barrel, taking a breather after a strong rally in recent days as Mexico was set to resume crude production following a major outage. Brent crude was up 14 cents, or 0.2%, to $71.19 a barrel by 1028 GMT, reversing earlier losses. U.S. West Texas Intermediate (WTI) crude... Continue Reading →
(Reuters) - Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant. Brent crude climbed $2.17, or 3.2%, to $67.35 a barrel by 0901 GMT after touching its lowest since May 21 at $64.60.... Continue Reading →
(Reuters) - Oil dropped to below $66 a barrel on Thursday, its lowest since May, pressured by concerns about weaker demand as COVID-19 cases rise, a stronger U.S. dollar and a surprise increase in U.S. gasoline inventories. Circulation of the Delta variant in areas of low vaccination is driving transmission of COVID-19, the World Health... Continue Reading →
Reuters) - Top oilfield services firm Schlumberger NV (SLB.N) on Thursday said it had withdrawn staff from next week's Offshore Technology Conference (OTC), which typically attracts at least 60,000 attendees to Houston, citing the area's rise in COVID-19 cases. The annual exhibition and technical exchange for offshore energy equipment and service companies historically ranks among the 10... Continue Reading →
(OE) The ROV Services market continues to be a key component for helping subsea operators achieve greater levels of operational efficiency and to reduce costs and will play a growing role in supporting the expansion of future offshore wind projects with tasks like laying cables, pre- and post-lay cable survey and other seabed activities. The... Continue Reading →
(Bloomberg) -- Oil extended losses after the worst week since October as a Covid-19 comeback raised concerns about the short-term demand outlook. Futures in New York fell below $67 a barrel after sliding almost 8% last week. The resurgence has led Goldman Sachs Group Inc. to downgrade its economic growth forecast for China, which recently completed a... Continue Reading →
Italian oil company Eni has made an oil find in Upper Miocene sequences on the Sayulita Exploration Prospect in Block 10 in the mid-deep water of the Cuenca Salina Sureste Basin, offshore Mexico. According to preliminary estimates, the new find may contain between 150 and 200Mboe in place, Eni said on Monday. Sayulita-1 EXP, which... Continue Reading →
(OE) Brazilian oil company Enauta has brought online another oil well at its Atlanta field in the Santos Basin, offshore Brazil, following a recent pumping system failure, and is now producing from two wells connected to the Petrojarl I FPSO. As previously reported, the company - formerly Queiroz Galvao - had earlier this month said... Continue Reading →
Brazil Energy Insight 