Guyana is set to grant a production license to ExxonMobil for production of oil to move ahead in 2020. This follows reviews of the technical and environmental aspects of the giant Liza oil discovery in the Stabroek Block offshore Guyana. Exxon submitted the development plan for the Liza project in December 2016. The Liza project is estimated... Continue Reading →

Brazil's top electoral court opens a trial on Tuesday over the alleged use of illicit money to fund President Michel Temer's 2014 election campaign in a case that could force him from office. The court has no deadline to reach a decision and could take weeks to rule, though the political turmoil Brazil is living... Continue Reading →

After filing to conclude its judicial recovery process, OGX, jewel of the crown of the former Empire X of Eike Batista, faces important challenges to overcome in the coming months. With difficulties to honor its investment commitments and living with risks of having its only source of revenue generation interrupted as early as next year, the... Continue Reading →

June 01, 2017 ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced today that it has completed its acquisition of the ownership interests in the company that owns and operates the shuttle tanker Vigdis Knutsen (KNOT Shuttle Tankers 25 AS “KNOT 25”) for an aggregate purchase price of $147.0 million less $137.7 million of outstanding indebtedness plus... Continue Reading →

June 01, 2017 In April 2017, oil production in Brazil totaled 2,539 million barrels per day (bbl / d). The volume represents a growth of 10.9% in relation to the same month in 2016 and a decrease of 0.4% in comparison with the previous month. Meanwhile, natural gas production was 103 million cubic meters per... Continue Reading →

JUNE 2, 2017   Schahin OIL & GAS has a new face. Or rather, new name. The company that carried the founders' last name for 50 years is now called Base. The move is part of the restructuring following the corruption scandals discovered by the Lava Jato operation and follows the course of the judicial... Continue Reading →

Brazil is taking steps to promote new renewable-energy projects as the government seeks to reassure the industry that political turmoil won’t threaten current power policies. The country will organize at least one power auction for clean-energy projects this year, according to Eduardo Azevedo, secretary of energy planning and development at the Ministry of Mines and... Continue Reading →

The biggest winners in President Donald Trump’s decision to walk away from the Paris climate accord are oil, coal and natural gas producers. And even they aren’t popping Champagne corks. The president, who has called climate change a hoax, cast aside any lingering doubts about his commitment to fossil fuels Thursday when he announced the... Continue Reading →

Brazil's economy emerged from its worst recession on record with its fastest growth rate in nearly four years, data showed on Thursday, boosting President Michel Temer's case for staying in office as he battles a corruption scandal. Brazil's gross domestic product (GDP) grew 1.0 percent in the first quarter from the preceding one, matching economists'... Continue Reading →

Exxon Mobil Corp's (XOM.N) chief executive said on Wednesday the company would reconsider how it communicates the risks its faces from climate change after shareholders approved a measure calling for increased transparency. The non-binding proposal passed with 62 percent of ballots cast in a rare defeat for Exxon's management, which had recommended a vote against... Continue Reading →