Brought to you by Quest Offshore & Southern Cone Consultants
(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Reuters) - Top oilfield services firm Schlumberger NV (SLB.N) on Thursday said it had withdrawn staff from next week's Offshore Technology Conference (OTC), which typically attracts at least 60,000 attendees to Houston, citing the area's rise in COVID-19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 →
(Reuters) - Goldman Sachs on Tuesday reduced its forecast for Brent crude oil to $75 a barrel for the third quarter, $5 lower than its previous estimate, as a surge in Delta variant COVID-19 cases takes a toll on demand. Oil prices fell $5 a barrel on Monday in response to fears over the hit... Continue Reading →
Following a meeting held on Sunday, OPEC and its allies have agreed to increase oil production starting from August 2021 with plans to end production adjustments by the end of September 2022. Last year, OPEC and allies agreed on record production cuts to save the oil industry amid a major industry crisis exacerbated by the coronavirus pandemic, cutting... Continue Reading →
The world’s remaining recoverable oil resources are now seen as 9 per cent slimmer but the commercial volumes can align with the global climate goals and keep global warming below 1.8˚C, energy intelligence firm Rystad Energy has said. Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to... Continue Reading →
Brazil Energy Insight 