The Brazilian government on Tuesday paved the way for ethanol makers to sell the fuel directly to gas stations, by passing a resolution to boost fuel industry competition, although additional legislation is required to bypass fuel distributors. The resolution by CNPE, the energy policy council, includes the option for direct sales by mills. Brazil’s Economy... Continue Reading →
Ocyan completes four years of MPD use and reinforces pioneering drilling of wells
6/5/2019 Ocyan completes four years of deepwater technology on the Brazilian coast with controlled pressure drilling (MPD or Managed Presure Drilling), ensuring greater operational safety in the development of complex wells. Since the end of 2014, the company has drilled 20 wells with this technique, mainly operated by the rigs: ODN I, ODN II and... Continue Reading →
Shell with a focus on the pre-salt
June 4, 2019 Projects in the Brazilian pre-salt are highlights in the company's global strategy until 2025 Deepwater operations in Brazil are one of the most important exploration and production projects in Shell's global portfolio by 2025, according to analysts' presentation on Tuesday. The company's effort is to develop deep-water and ultra-deepwater projects to grow... Continue Reading →
Installation License for Mero FPSO sought by Petrotras
Petrobras asked for the installation license (LI) for the Carioca FPSO (Mero I), the production pilot of the Mero field, in the Santos pre-salt. It will be the first definitive FPSO at Mero. The Carioca is being built and will be operated by Modec, with first oil planned for 2021. Mero produced 41,000 barrels a... Continue Reading →
Prosafe, Floatel merger to create world’s largest offshore accommodation company
Offshore accommodation rig owners Prosafe and Floatel have agreed to merge businesses in what they say is a “merger of equals.” “The aim is to create a more robust company with improved services and geographical presence, able to sustain a prolonged cyclical downturn and challenging markets for offshore accommodation,” Prosafe said in a statement on... Continue Reading →
LyondellBasell ends talks with Odebrecht to buy Braskem
Shares in petrochemical producer Braskem were down 20 percent in pre-market trading in Sao Paulo after petrochemical giant LyondellBasell Industries NV on Tuesday said it had ended talks with Braskem SA’s controlling shareholder, Brazilian construction conglomerate Odebrecht SA, to acquire the company. Reuters reported in March that talks with Brazilian conglomerate Odebrecht SA over a... Continue Reading →
Shell Promises Significant Increase in Returns to Investors
Royal Dutch Shell Plc plans to shower its investors in money, pledging returns of $125 billion between 2021 and 2025 -- twice as much as a decade earlier. The oil and gas major says it can pull off this feat with crude at $60 a barrel and only a small increase in capital spending, an aggressive... Continue Reading →
Brazil – Oil and gas production in April grows in relation to March and 2018
June 3, 2019 Brazil oil and gas production in Brazil grew for the second consecutive time in April compared to March and the same month of 2018. In total, they totaled 3.314 million barrels of oil equivalent per day (boe / d ). In April, oil production was 2.604 million barrels per day (bbl /... Continue Reading →
Petrobras announces Teasers for the sale of onshore fields in Bahia
Rio de Janeiro, June 3, 2019 - Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure phase (Teaser), related to the sale of all its interests in two sets of onshore concessions, including shared production and treatment facilities, designated as Recôncavo Cluster and Rio Ventura Cluster, both located in Bahia, The... Continue Reading →
Eni makes fifth oil discovery offshore Angola
Italian oil and gas company Eni has made the fifth oil discovery in one year in Block 15/06, in Angola’s deep offshore. The well has been drilled on the Agidigbo exploration prospect, and analysis of post drill results indicate between 300 and 400 million barrels of light oil in place, Eni said on Monday. Continue... Continue Reading →
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