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Total production for October was 4.180 million barrels of oil equivalent per day (boe/d), of which 3.245 million barrels of oil per day (bbl/d) and 148.747 million cubic meters of natural gas per day (m3/d ). In oil, there was an increase of 3.1% compared to the previous month and 16.8% compared to October 2021.... Continue Reading →
As deepwater oil and gas production is set to increase by 60 per cent by the end of the decade, Wood Mackenzie, an energy intelligence group, has outlined in its global upstream report the drivers of deepwater’s rapid growth, along with the challenges and opportunities the sector offers and faces. Wood Mackenzie disclosed last week that... Continue Reading →
(Reuters) Norwegian energy firm Equinor's renewables business faces rising supply chain bottlenecks and strong rivalry for new projects, but will not compromise on its 4-8% investment return target, the head of the unit told Reuters. While still largely an oil and gas producer, state-controlled Equinor is investing heavily in offshore wind, securing permits in Britain,... Continue Reading →
(epbr) Independent operators that bought upstream assets in the Petrobras divestment process will invest US$ 10 billion in the projects until 2027, increasing the production of these assets, which should reach a peak of 485 thousand barrels per day in five years. A report released by Wood Mackenzie studied the production projects of the companies... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved, in a meeting held today, the Strategic Plan for the five-year period 2023-2027 (SP 2023-27). Throughout 2022, Petrobras delivered an operational and financial performance in line with its commitment to generate value for society and shareholders and in full adherence with the 2022-2026... Continue Reading →
(epbr) The development of the 18 production sharing contracts currently contracted may require the contracting of 21 production platforms (FPSOs) of up to 225 thousand barrels/per day of capacity by 2029, estimates Pré-Sal Petróleo (PPSA). — Investments in production development are estimated at US$ 72.4 billion between 2023 and 2032, which include everything from the... Continue Reading →
(U) Australian independent Karoon Energy is on the acquisition trail as it looks to add more oil assets in Brazil, where it is already producing from the Bauna field, and potentially further afield in the Americas. “We are continuing to explore potential acquisition and farm-in opportunities,” confirmed Karoon chairman Bruce Phillips. Most of the assets... Continue Reading →
(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 →
Brazil Energy Insight 