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Royal Dutch Shell's (RDSa.L) profits leapt to $3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the outlook remained uncertain due to the coronavirus pandemic. Shell's adjusted earnings were above an average analyst forecast of $3.125 billion and also ahead of earnings of $2.9... Continue Reading →
(TNPetroleo) The international bidding process promoted by Pré-Sal Petróleo (PPSA) on Wednesday, 28, to hire a trading agent for oil destined for the Union from the Tupi Individualized Area was declared closed, without the receipt of bids. The companies Equinor, Petrobras and Total, which asked to register to participate, did not send the documentation. The... Continue Reading →
(PetroNoticias) Petrobras is gradually resuming its project at Parque das Baleias, in the Espírito Santo portion of the Campos Basin. The next month promises to be decisive for the project, which last year was postponed for a year due to the consequences of the Covid-19 pandemic. At the end of May, Petrobras plans to open... Continue Reading →
(MegaWhat) One of the main participants in the divestment program of Petrobras, in number of closed deals, the Brazilian 3R Petroleum sees no risk of discontinuity of the plan for the sale of assets of the state company of onshore fields, with the new management. For the company, which won six bids and still participates... Continue Reading →
In 1Q21, we kept a solid operating performance, even with the worsening of the COVID-19 pandemic in Brazil. The average production of oil, NGL and natural gas in 1Q21 was 2.77 MMboed, 3.1% higher than 4Q20, as P-70, installed in the Atapu field, continued to ramp-up, and due to lower losses with maintenance stoppages on... Continue Reading →
( TNPetroleo) Pre-Sal Petróleo (PPSA) is holding an international bidding this Wednesday, the 28th, at 10 am, for the contracting of a trading agent for the Union share of oil from the Individualized Area of Tupi. The contract will run for five years and is expected to sell 4 million barrels of oil at an... Continue Reading →
(OE) U.S. oil major ExxonMobil said on Tuesday it made an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana. Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels, ExxonMobil said. Drilling at Uaru-2 encountered... Continue Reading →
Oil production in Brazil fell 6% in the first quarter from a year earlier, according to National Petroleum Agency (ANP) figures seen by Reuters on Monday, led by a drop in output from state-run oil giant Petrobras. Brazil produced an average of about 2.8 million barrels per day in the first three months of the... Continue Reading →
Portugal's Galp Energia on Monday reported a 13% slump in adjusted first-quarter net profit, hit by a decline in oil production owing to constraints caused by the COVID-19 pandemic and slower refining activity. Galp suspended output at its largest refinery in Sines and its smallest, Matosinhos, in April 2020. It resumed production at both locations... Continue Reading →
(Reuters) India, the world's third-largest crude consumer and importer, has approached Guyana's government about a possible long-term deal to buy the South American country's oil, a Guyanese official said. India has expressed interest in buying one of the 1 million-barrel cargoes Guyana's government is entitled to in order to test the crude in its refineries,... Continue Reading →
Brazil Energy Insight 