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Petróleo Brasileiro S.A. – Petrobras informs that the production expected to start from Mero 1, through FPSO Guanabara, was postponed from the 4th quarter of 2021 to the 1st quarter of 2022. The FPSO will be installed in the Mero field, which belongs to the Libra Block, in the Santos Basin pre-salt area, with a processing... Continue Reading →
The production of Polo Macau, operated by 3R Petroleum in the Potiguar basin (RN), rose 5.3% in March, to 4,866 barrels of oil per day, according to preliminary and unaudited information from the oil company. The average production of natural gas, however, fell slightly, from 910 million cubic meters per day to 902 million m³... Continue Reading →
(Reuters) - Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter, the world’s biggest fuel retailer said on Wednesday, indicating fuel demand recovery has remained slow amid coronavirus restrictions. In a trading update, Shell said it saw refined oil product sales at 3.7-4.7 million barrels... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that today it signed agreements with BP Energy do Brasil Ltda (BP) to take over BP's entire stakes in six blocks, located in ultra-deep water in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin. The six blocks... Continue Reading →
Oil and gas company Tullow Oil on Tuesday said it was starting a multi-year, multi-well drilling campaign offshore Ghana. The campaign started with the start of drilling of the first well at the Jubilee offshore field on Monday. Maersk Drilling's Maersk Venturer drillship is expected to drill four wells in total in 2021, consisting of... Continue Reading →
Offshore oil and gas drilling is set for a rebound this year following a major 2020 pullback when exploration and production companies deferred many activities due to the pandemic and the collapse in oil prices. Lower lifting and breakeven costs at the most prolific offshore oil regions off Brazil and Guyana are setting the stage for... Continue Reading →
The company estimates to disburse resources in exploration, development and production in the order of U$ 40 million in 2021 and U$ 105 million for 2022. The projection has a variation margin of 20% negative or positive. Of the total set aside for this year, US$ 19 million will go to the Atlanta field, including... Continue Reading →
Oil major ExxonMobil is preparing to start up a gas compressor on SBM Offshore’s Liza Destiny FPSO, operating offshore Guyana, this week following a technical issue that started in January 2021. As previously reported, ExxonMobil started experiencing technical issues with the gas compressor on the SBM Offshore-owned FPSO Liza Destiny, which is working on the Liza field located offshore... Continue Reading →
Following the acquisition of the Baúna field in Brazil, Australia’s Karoon Energy has created a Brazil Business Unit and is working to restructure its executive team with immediate effect. Karoon said on Monday it has created the Brazil Business Unit, which will be reporting directly to the CEO and Managing Director, supported by the appropriate... Continue Reading →
(Reuters) - The deadly coronavirus wave that has torn through Brazil in recent weeks has not spared its oil industry, according to unions and government data reviewed by Reuters, with infections among workers jumping and production taking a hit. New COVID-19 cases among offshore oil workers rose to 46 on March 24 from 17 on... Continue Reading →
Brazil Energy Insight 