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 →
U.S. exported more oil than Saudi Arabia in June
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 →
GeoPark Announces Expansion of Its Latin American Portfolio With New Low-cost Exploration Acreage Added in Brazil
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 →
Non-OPEC liquid production to continue reaching record highs in 2020, Rystad says
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 →
TechnipFMC Announces First Commercialization of Direct Heating Unit Technology in Brazil
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 →
GE to Shed Majority Control of Baker Hughes
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 →
CHC PREDICTS INCREASE IN DEMAND FOR HELICOPTERS IN THE OIL AND GAS SECTOR AND PREPARES FOR THIS GROWTH
Sep 11, 2019 The projections for the future are encouraging for CHC. The company, which in Brazil provides services to Petrobras, Shell, Equinor and Enauta, is looking forward to the national oil and gas market, according to CHC Latin America Regional Director Carlos Madaleno. “We expect demand to increase in the region due to potential... Continue Reading →
ExxonMobil strengthens presence on Sergipe coast
September 12, 2019 With the acquisition of three new concessions in the Sergipe-Alagoas Basin, in the permanent offer of the National Petroleum Agency (ANP), this week, ExxonMobil consolidates its presence in Brazil's most promising exploration and production frontier since the discovery of pre-salt. The American-led consortium, along with Enauta and Murphy Oil, is expected to... Continue Reading →
Maha announces changes in command
Sept 11, 2019 Maha Energy announced changes in its command. The company is reorganizing its board, which will have part of the team focused on the development of production assets in Brazil and another on the development of new business. Alan Johnson will be Vice President of Operations. He has over 25 years of experience... Continue Reading →
Olis Robotics Partners with Forum on New ROV Controllers
Olis Robotics has entered into an agreement with Forum Energy Technologies for global sales, distribution and support of its ROV controllers. The Olis Master Controller (OMC) is said to be a next-generation controller for piloting remotely operated vehicles (ROVs) in the offshore energy industry. Continue reading
Brazil Energy Insight 