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(OEM) Looking at the future of the oil and gas industry in the sustainable energy landscape, Wood Mackenzie, an energy intelligence group, has outlined three key elements of the energy super basins of the future. Ever since Russia’s attack on Ukraine, the outlook for the supply, demand, and price of fossil fuels is constantly shifting, which... Continue Reading →
(Rigzone) In the coming years, upstream capex in Latin America will shift into deeper and deeper water with Brazil, Guyana, and Mexico likely to lead the charge for new spending, Rystad Energy said. While onshore investments stabilized at around $14 billion and shallow water spending continues to decline, deepwater expenditure is projected to grow at... Continue Reading →
(OE) CGX, a Toronto-based oil and gas firm focused on the Guyana-Suriname Basin, has secured funding for its next offshore exploration well in Guyana's Corentyne block by agreeing to farm out a portion of its interest to its partner Frontera. As part of the agreement, CGX will transfer 29.73% of its interest in the Corentyne... Continue Reading →
In 2Q22, we delivered an operating performance fully in line with the Company's plans. Average production of oil, NGL and natural gas reached 2.65 MMboed, 5.1% below 1Q22. This result was mainly due to the beginning of the Production Sharing Contract for the Surplus Volumes of the Transfer of Rights of Atapu and Sepia, effective... Continue Reading →
(Reuters) - Shell (SHEL.L) is exploring a sale of its stakes in two U.S. Gulf of Mexico oil and gas developments which could raise as much as $1.5 billion for the energy major, people familiar with the matter said on Wednesday. Potential divestments of some aging assets would allow the company to focus on newer and larger... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 78,000 barrels per day (bpd) to a record 5.445 million bpd in August, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(Reuters) - Democratic Republic of Congo will offer 27 oil blocks and three gas blocks, nearly double as many as previously planned, in a licensing round next week, the hydrocarbons ministry said on Monday. Congo, a leading miner of copper, cobalt, gold and diamonds, has long aimed to boost its oil sector and is believed... Continue Reading →
(OEM) With two-thirds of global resources in their hands, seven National oil companies (NOCs) own the lion’s share of remaining discovered oil and gas resources, says Wood Mackenzie, an energy intelligence group. Following Russia’s attack on Ukraine, the outlook for the supply, demand, and price of hydrocarbons is constantly shifting, leading to a rewriting of energy trade... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 04/01/2022, informs that it has completed a Drill Stem Test (DST) on the 1-BRSA-1383A-RJS wildcat well (Alto de Cabo Frio Central Noroeste) in the pre-salt of the southern portion of the Campos Basin. The new discovery, announced on April 1st, is located 230... Continue Reading →
ANP published the Monthly Bulletin of Oil and Natural Gas Production, with consolidated data on national production for the month of May. Approximately 2.879 MMbbl/d (million barrels per day) of oil and 132 MMm3/d (million cubic meters per day) of natural gas were produced, totaling 3.707 MMboe/d (million barrels of oil equivalent per day) Pre-salt... Continue Reading →
Brazil Energy Insight 