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The value of natural gas lost to flaring across the globe reached $16.4 billion in 2018, as flared natural gas volumes hit record highs, according to a recent report by Brainnwave. The data intelligence firm – which collects the flaring data using night-time satellite imagery from visible infrared radiometer data – reported that the volume... Continue Reading →
September 16, 2019 Brazil has a unique opportunity: combining the development of its oil potential with a long-term strategy for resuming economic growth. To this end, it is essential to establish the guidelines of its petroleum policy, improving rules and regulatory instruments, in order to explore the technological challenges associated with offshore exploration, with the... Continue Reading →
Oil prices on Monday saw the biggest surge since 1991 following a drone attack on the state-owned Saudi Aramco’s oil processing facility in Saudi Arabia, according to Reuters. The attack has shut down about 5% of the world’s crude output, but the impact of the attack on crude oil flows will depend on the duration... Continue Reading →
13 September 2019 The ANP Collegiate Board of Directors examined the request for contractual termination without charge of the concession contracts of blocks REC ‑ T ‑ 194, REC ‑ T ‑ 208, REC ‑ T ‑ 209, REC ‑ T ‑ 225, REC ‑T ‑ 239, REC ‑ T ‑ 240, REC ‑ T... Continue Reading →
Brent crude surged the most on record after a drone strike on a Saudi Arabian oil facility removed about 5% of global supplies. The benchmark oil futures jumped as much as $11.73/bbl to $71.95 as the market opened Monday in Asia, the biggest advance in dollar-terms since futures started trading in 1988. For oil markets,... Continue Reading →
The U.S. briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more. Surging output from shale helped America ship almost 9 MMbpd of crude and oil products in June, surpassing Saudi Arabia, the International Energy Agency said in a report, citing... Continue Reading →
September 12, 2019 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, Argentina, Brazil, Chile and Ecuador, today announced the expansion of its portfolio with four new exploration blocks in the Reconcavo and Potiguar basins... Continue Reading →
Liquid production growth for non-OPEC countries reached the highest rate on record in 2018, with a growth of almost 2.9 million barrels per day (bbl/d), according to Norwegian energy intelligence company, Rystad Energy. For this year, the trend suggests that non-OPEC countries’ liquid production will reach above 2 million bbl/d once again, led by tight... Continue Reading →
Sept 11, 2019 TechnipFMC has announced that Videolar-INNOVA S.A. (INNOVA) has recently started the activities of the first Direct Heating Unit (DHU) in Brazil. This innovative technology for adding heat to high temperature processes employs flameless combustion for dehydrogenation of ethylbenzene into styrene. INNOVA's 420,000 metric tons styrene plant, located in Triunfo (RS), Brazil, is... Continue Reading →
General Electric is looking to raise up to $3 billion in sale of majority-owned Baker Hughes shares, resulting in a reduction of the U.S industrial conglomerate's stake in the oilfield services provider to less than 50%, Baker Hughes said on Tuesday. Shares of Baker Hughes, in which GE owned an about 50.4% stake as of... Continue Reading →
Brazil Energy Insight 