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A merger between Premier Oil and Chrysaor has been approved by Premier’s shareholders and the deal is expected to close by the end of the first quarter this year. Premier reached an agreement with Harbour’s UK operating company Chrysaor regarding a proposed all-share merger between Premier and Chrysaor and the reorganisation of Premier’s existing debt and... Continue Reading →
Oil major ExxonMobil is preparing to drill an exploration well in waters offshore Brazil, using Seadrill’s West Saturn drillship. Petroleo Hoje, a Brazilian publisher specializing in oil and gas news, reported on Monday that ExxonMobil and Seadrill are preparing for the drilling campaign in the country and the West Saturn drillship is already located at... Continue Reading →
Brazilian oil exports registered an average of 387.3 thousand tons per day in the first week of the year, more than 100% above the average reported forJanuary last year, according to data released by the Ministry of Economy on Monday. In January 2020, foreign oil sales from Brazil totaled an average of 191.9 thousand tons... Continue Reading →
Energy intelligence firm Rystad Energy has conducted a comprehensive company-level analysis of the world’s upstream industry, identifying the top carbon-intensity performers in each of the offshore, onshore, and shale segments and concluded that onshore producers have a higher carbon intensity on average, while offshore producers are scattered. The carbon footprint of exploration and production companies... Continue Reading →
Like many global oil majors ExxonMobil is under considerable pressure because of the significant fallout from the COVID-19 pandemic, sharply weaker oil prices and the threat of peak oil demand. There are growing fears that Exxon, because of its tremendous debt burden, is a zombie company. These are generally companies that are not generating sufficient... Continue Reading →
Brazilian oil and gas drilling company Constellation has won a long-term contract for its ultra-deepwater drillship Brava Star with the Brazilian oil firm Petrobras. Constellation said this week that the contract for the 2015-built Brava Star drillship was for 810 days and includes a termination for convenience after 180 days subject to a demobilization fee. ... Continue Reading →
(Reuters) -Total will be as active in adding renewable energy assets in 2021 as it was last year, Chief Executive Patrick Pouyanne told an Oddo BHF conference on Friday. Total is trying to reduce its dependence on oil and shift towards electricity and renewable energy. It aims to have 35 gigawatts (GW) of gross renewable... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras reports that it has registered records in its 2020 annual oil production and total annual production (oil and gas) of, respectively, 2.28 million barrels per day (bpd) of oil and 2.84 million barrels of oil equivalent per day (boed). The previous records occurred in 2015 and were 2.23 million bpd... Continue Reading →
The 17th Bidding Round under the concession regime will offer 96 offshore exploratory blocks in the Campos, Pelotas, Potiguar and Santos basins. The maps of the sedimentary basins with the sectors where these explorations are located are on this page and the originals can be obtained at http://rodadas.anp.gov.br/pt/17-rodada-licitacao On 9/9/2020 Resolution No. 7 of 8/18/2020... Continue Reading →
After a long period of negotiations and a lot of market expectations, Ocyan won Petrobras' tender for chartering a rig exclusively dedicated to the Mero field, in the Santos cluster. Drill ship Norbe VIII should start operating in the second semester Petrobras and Ocyan do not reveal details of the bid result. Source: PetroleoHoje
Brazil Energy Insight 