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Brazilian oil and gas company PRIO, formerly known as PetroRio, has temporarily stopped production at a field, located within the Northern Campos Basin off the coast of Brazil. PRIO revealed on Monday that it has interrupted production at the Frade field due to an inert gas line. The initial estimates indicate that this interruption will last between 5 to... Continue Reading →
(Reuters) - Argentina's central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according to new data. The central bank raised the benchmark 'Leliq' rate for the 28-day term to 69.5% from 60%,... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for July 2022 in the assets that the Company holds participation. (1) Macau Cluster had its production in May, June and July impacted by an... Continue Reading →
(Bloomberg) -- When Talos Energy, a Houston driller, made the biggest private oil discovery in Mexico’s history in 2017, it enthusiastically led a $350-million investment in its new-found Zama field. Mexico had declared itself open to international business in energy, and Talos would help lead the way. What Talos didn’t know -- couldn’t know --... Continue Reading →
(OEM) The American Petroleum Institute (API), a trade association representing the oil and gas industry, believes ramping up domestic production and turning to U.S.-made energy is the answer to the global supply and demand imbalance hitting Americans at the pump and impacting the broader economy. The American Petroleum Institute claims that energy demand is outstripping supply... Continue Reading →
No longer in its infancy, offshore wind is a proven technology on course to play a key role in the decarbonisation of the global economy. Over the next decade, the industry will attract almost US$1 trillion in new investment. A growing number of competitors are flocking to take advantage of the massive opportunities that will... Continue Reading →
(Rigzone) Oil supermajors continue to hold back on investment as mid-year guidance remains mostly firm, a new report from Fitch Solutions Country Risk & Industry Research has noted. Overall, the group will raise annual capital expenditure by 19 percent in 2022 versus earlier guidance growth of 17 percent, the report, which was sent to Rigzone... Continue Reading →
In recent weeks, rumors have grown that the state-owned company has suspended negotiations for the sale of Albacora In the presentation of the 2Q22 results to market analysts, PetroRio highlighted the importance of Campo Albacora, still under negotiation - called Albacora Oeste by the company to differentiate it from Albacora Leste, this the last one... Continue Reading →
The ANP published the Monthly Bulletin of the Production of Oil and Natural Gas, with the consolidated data of the national production in the month of June. Approximately 2,828 MMbbl/d (million barrels per day) of oil and 133 MMm3/d (million cubic meters per day) of natural gas were produced, totaling 3,664 MMboe/d (million barrels of... Continue Reading →
Offshore staff (OM) For the month of July, oil and gas discoveries were announced across five offshore regions: the Far East, Middle East, North Sea/Barents, South America, and the US Gulf of Mexico, Esgian reported Aug.2. These regions accounted for seven discoveries. The analyst firm said floating rigs led the way, drilling five of the... Continue Reading →
Brazil Energy Insight 