Jun 29, 2020 The oil unions are reacting hard and even with some indignation to the decision of the Petrobras Board of Directors, which, in early June, approved a change in the internal policy of the state-owned company, authorizing the increase of the appointments of outside professionals for the company's high command. The measure raises... Continue Reading →
Woodmac: How has the Price Crash Changed the Upstream Sector?
According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry. Andrew Pearson, vice president, upstream, said: "This figure captures the impact of Wood Mackenzie’s downgraded long-term Brent price assumption – now US$50/bbl (2020 terms), rather than the previous US$60/bbl – and much more. Continue reading
Upstream spending set for 15-year low as it falls from lower mountain to deeper valley, Rystad says
Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 billion this year, the lowest level in 15 years and a staggering 29 per cent decrease of $156 billion compared to 2019, according to Rystad’s... Continue Reading →
Brazil Energy Insight 