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(RZ) Deepwater production is set to increase by over 60% between 2022 and 2030, growing from 6% to 8% of overall upstream production. Ultra-deepwater production – from depths of 5,000 feet and above is growing fastest – by 2024 it will account for more than half of all deepwater production. Deepwater is the fastest-growing upstream... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases of 09/29/2021, 10/04/2021 and 03/04/2022, informs that it has received today the amount of R$ 10.3 billion, equivalent to US$ 1.9 billion by the PTAX exchange rate of 11/24/2022, related to the assignment of 5% of its participation in the Production Sharing Contract of the... Continue Reading →
(Reuters) - U.S. energy firms this week added oil and natural gas rigs for a fourth week and second month in a row as relatively high oil prices encourage firms to drill more. The oil and gas rig count, an early indicator of future output, rose two to 784 in the shortened week to Nov.... Continue Reading →
(Reuters) - Chevron Corp could win U.S. approval to vastly expand operations in Venezuela as soon as Saturday once the Venezuelan government and its opposition resume political talks, three people familiar with the matter said on Wednesday. A U.S. authorization for Chevron to help rebuild the country's sagging oil production was one of the biggest... Continue Reading →
Mexican state oil company Pemex expects a key offshore natural gas field located in the deepwater Gulf of Mexico will add significant output after inking a service contract on Monday, part of a push to grow local output while reducing imports. Pemex announced in a statement that the deepwater Lakach field will pump 300 million... Continue Reading →
The National Petroleum Agency (ANP) announced a new record for the oil and gas sector in Brazil. The country produced 4.18 million barrels of oil equivalent per day on average (boe/d) during the month of October, the highest volume recorded in the Brazilian oil industry. The number represents a growth of 2% in comparison with... Continue Reading →
- Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of October. Key:(1) The MUP3A well, in the Frade Field, had its production temporarily interrupted due to a failure in the completion equipment, and will be repaired during... Continue Reading →
Brazilian oil company Enauta said Monday that production from its Atlanta offshore field in Brazil had been interrupted. "The initial assessment is that this is an operational problem on the surface. The current production of the field is 7,500 bbl/day," Enauta said. The Atlanta Field is operated by Enauta, which owns 100% of the asset.... Continue Reading →
(Reuters) - Top oilfield services firm SLB (SLB.N) anticipates oil and gas offshore activity will surpass levels before the COVID-19 pandemic, as strong demand and pricing drive investment into the industry. "We maintain the view that upstream spending is very resilient," Chief Executive Olivier Le Peuch told investors at a conference in New York on Thursday, adding... Continue Reading →
(OEM) Carbon capture and storage (CCS) projects in the Gulf of Mexico could play an important role in meeting U.S. greenhouse gas emission reduction goals, however, many challenges remain, according to a report by Wood Mackenzie. There are currently 22 CCS projects in the U.S., accounting for 19% of global activity, with six projects in... Continue Reading →
Brazil Energy Insight 