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(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 70,000 barrels per day (bpd) to a record 5.208 million bpd in April, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(OE) Oil and gas company Eco Atlantic has agreed to acquire 100% of Toronto-based JHI Associates Inc. ("JHI"), including JHI's 17.5% stake in the Canje Block offshore Guyana. The Canje Block, offshore Guyana, is directly adjacent to the prolific Stabroek Block where ExxonMobil has discovered more than 10 billion barrels of oil. ExxonMobil operates the Canje Block... Continue Reading →
(Reuters) - Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic. Preferred shares in the firm plummeted 22% in a day. Analysts quickly downgraded a slew of Brazilian assets from state banks to sovereign debt. Many investors... Continue Reading →
(Reuters) - Within hours of Moscow launching its invasion of Ukraine, BP’s chief executive summoned his senior team to discuss the limited options for its Russian operations, including separating the British energy giant’s stake in Russian oil firm Rosneft or exiting completely, according to three senior BP executives. Bernard Looney made it clear at the... Continue Reading →
(Portos e Navios) PetroRio, an independent oil and gas company, recorded a production record in February, with 35,671 barrels/day. It is the highest average monthly amount for the company. The highlight was the Polvo – Tubarão Martelo cluster, which had a production increase of over a thousand barrels/day. The better operational performance of the FPSO... Continue Reading →
(PN) Pre-salt production hit new records in January, according to the National Petroleum Agency (ANP). The agency said that production has reached historic levels both in volume and in percentage of total Brazilian production. Altogether, the pre-salt produced 2.912 million barrels of oil equivalent per day in January, of which 2.292 million barrels a day... Continue Reading →
(PN) OneSubsea signed a contract with Enauta for the development of the definitive production system in the Atlanta field, in the Santos Basin. The agreement includes a broad scope of subsea work, with a combined solution covering subsea processing systems, subsea production systems and Christmas Trees. “Through these agreements, we are committed to providing unique... Continue Reading →
(PetroleoHoje) TechnipFMC started the interconnection campaign of the first well of the Mero 1 system to the FPSO Guanabara. The company concluded the work of loading the first batch of rigid lines of the project on the launch vessel Deep Blue from the spoolbase in Porto do Açu, in São João da Barra (RJ), installed... Continue Reading →
The chorus is growing from America’s oil executives for President Joe Biden to throw the federal government’s weight behind an industry he once deliberately shunned: U.S. shale. (WO) The Biden administration, which has made climate one of its policy pillars, has more than once asked OPEC+ to raise crude production to tame energy prices --... Continue Reading →
(Offshore Energy) Houston-based Vaalco Energy has confirmed progress in its activities offshore Gabon, with a field reconfiguration and replacement of existing floating production, storage and offloading (FPSO) unit with a floating storage and offloading (FSO) vessel still on schedule, the latter being targeted for the third quarter of 2022. Back in August 2021, Vaalco signed... Continue Reading →
Brazil Energy Insight 