Oil production in the U.S. Gulf of Mexico is set to make new records in the imminent future, according to Norwegian oil and gas intelligence firm Rystad Energy. Rystad said on Friday that GoM oil production was a mere 1.28 million bpd in 2013, whereas in 2018 production averaged a record high of 1.79 million... Continue Reading →

Activist investor Carl Icahn is suing oil company Occidental over what he feels is a ‘fundamentally misguided’ deal to buy Anadarko Petroleum. He has slammed the management for “bet-the-company” acquisition for a ‘sky-high’ price and feels Oxy should’ve put itself up for sale instead. As previously reported, Oxy in May reached a deal to buy... Continue Reading →

May 30, 2019 The ANP board approved on Thursday, 30, the Titã Minimum Exploration Program (PEM), a Santos basin pre-salt block contracted in the 5th round of sharing. A well is to be drilled by 2020, in a campaign  that can reach up to 22 wells in the pre-salt. Last year, ExxonMobil started two environmental... Continue Reading →

30 May 2019 Shell has launched a tender for the provision of an FPSO to be installed at the Gato do Mato field off Brazil. The operator is looking for a unit capable of producing between 60,000 and 90,000 bpd, to come online in the third quarter of 2023. Interested companies are expected to submit... Continue Reading →

5/30/2019 Petrobras has confirmed it will ship oil to China during June and July to respond more quickly to demand from local refineries. The company rented storage tanks in the port city of Qingdao, which will allow the oil company to sell smaller quantities of oil to the local market for immediate delivery, the company... Continue Reading →

5/30/2019 The president of the National Economic and Social Development Bank (BNDES), Joaquim Levy, and the director general of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), Décio Oddone, will be in the front line of the Brazilian commission that goes to Oslo, Norway, next week to publicize the pre-salt opportunities. They participate... Continue Reading →

Brazil’s economy shrank in the first quarter for the first time since 2016, data showed on Thursday, pushing Latin America’s largest economy closer to a double-dip recession. The contraction piled pressure on President Jair Bolsonaro, who was swept into office in January after making market-friendly pledges to boost growth and lift the gloom hanging over... Continue Reading →

May 30, 2019 BW Energy will invest US $ 250 million in the first phase of development of the Maromba field in the Campos Basin, the company said in its first presentation to the market. The start of implementation of the project - which will have four phases of development - is planned for the... Continue Reading →

Many are looking to Offshore as a more beneficial environment to harvest larger volumes of wind energy. Offshore wind farms are developed with ‘bottom fixed’ structures in relatively shallow, near shore waters. As 80% of the best wind resources lie in waters beyond the reach of bottom fixed (~60m), floating wind technology is increasingly accepted... Continue Reading →

Rio de Janeiro, May 30, 2019 - Petróleo Brasileiro S.A. – Petrobras discloses that it has been contacted by the U.S. Commodity Futures Trading Commission (“CFTC”) with an inquiry regarding certain trading activities related to the Car Wash Operation. Petrobras reiterates that it will continue to cooperate with the regulatory authorities regarding any inquiry, reinforcing... Continue Reading →