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 →

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 →

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 →

May 31, 2019 After progress in the Transfer of Rights agreement, the government retakes the program to stimulate the production chain of the oil and gas sector The ANP and the Ministry of Economy will soon start debates to try to restart Pedefor (Program to Encourage Productive Chain Competitiveness, Development and Improvement of Suppliers of... Continue Reading →

May 30, 2019 The National Petroleum Agency (ANP) approved, during the meeting of its board of directors, the transfer of a 10% participation of Barra Energia to Equinor in the block BM-S-8, in the Santos basin, where it is located the area of Carcará. The transaction was announced last year and will involve the payment... Continue Reading →

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 →