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(Reuters) - Brazil’s Petrobras on Monday projected a surge in oil exports and divestments over the next five years as it steps up plans to target overseas demand and cut debt. In a virtual presentation to investors during the state-controlled company’s annual investor day, Petroleo Brasileiro SA, as it is formally known, said domestic oil... Continue Reading →
After having been suspended due to the adverse scenario of the Covid-19 pandemic, the 17th Concession Round of the National Petroleum Agency (ANP) will be resumed. The event will take place on October 7, 2021. The restart of the usual procedure for organizing the bid was approved this week during the meeting of the ANP... Continue Reading →
Joint venture partners in the Corentyne block offshore Guyana – Frontera Energy and CGX Energy – have concluded collaborative discussions with the Government of Guyana concerning the rescheduling of the work commitments on the block. Frontera said on Friday that the joint venture was committed to completing its exploratory commitments in full, despite operational activities... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, regarding the divestment of the Papa-Terra field, Campos Basin, clarifies that the stage of receiving binding offers was completed on 9/29/2020. As a result, on 10/29/2020, negotiations started with Starboard Asset Ltda (Starboard), a fund manager that has a relevant stake... Continue Reading →
Group moves forward in negotiations to acquire its first deepwater project in the Campos Basin. 3R Oil & Gas should acquire the Papa-Terra field in Petrobras' divestment program. Sources linked to the business anticipated that the Brazilian group presented the best proposal in the process, being selected as the preferred leader. The company has already... Continue Reading →
Investments from global exploration and production companies (E&P) in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows. However, about 20 per cent of this amount could be at risk. About 20 per cent or $76 billion of the estimated 2021 investments could be at risk of deferral... Continue Reading →
ARMS Reliability said it has reached an agreement with floating production solutions provider MODEC to assist with optimization and rapid strategy development of asset maintenance management philosophy for MODEC’s newest floating production, storage and offloading unit (FPSO) project for the Bacalhau field, offshore Brazil. The Bacalhau FPSO, the largest ever ordered for Brazil, will be... Continue Reading →
German oil and gas company Wintershall Dea has set greenhouse gas reduction targets for its production activities (scope 1 + 2 emissions, operated and non-operated upstream activities at equity share basis). The company said Monday it wanted to achieve net zero operations by 2030. In 2019, the company’s operating activities generated around 2.5 million metric... Continue Reading →
Oilfield services provider Aker Solutions has won a framework agreement with Equinor to provide maintenance and modifications services at the Peregrino field, offshore Brazil. The contract has a fixed period of four years and includes an option for a two-year extension, Aker Solutions said on Monday. The new contract means an expansion of the more... Continue Reading →
(Reuters) - The Trump administration’s final sale of oil and gas leases in the Gulf of Mexico generated nearly $121 million in high bids on Wednesday, an improvement from the last government auction held just as the coronavirus pandemic was beginning to depress world demand for fuel. The sale was the last before the January... Continue Reading →
Brazil Energy Insight 