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The Union oil surplus under the production sharing regime increased 74% in October, compared to September, registering a daily average of 7 thousand barrels of oil. Of this total, 4 thousand bpd (barrels of oil per day) were produced in the Mero Development Area, 3 thousand bpd in Entorno de Sapinhoá and 40.7 bpd in... Continue Reading →
Norwegian oil and gas company Equinor has appointed Ulrica Fearn as its chief financial officer (CFO) and executive vice president, with effect from 16 June 2021. Fearn will succeed acting CFO Svein Skeie, who will become senior vice president CFO Performance Management and Risk with effect from the same date. Svein Skeie took over the acting... Continue Reading →
Petro Rio SA (“Company” or “PetroRio”) (B3: PRIO3), in compliance with the provisions of the Securities and Exchange Commission Instruction 358, of January 3, 2002, as amended, it informs its shareholders and the market in general that on this date its Board of Directors approved the beginning of the work and the procedures for choosing... Continue Reading →
UK oil and gas company Premier Oil will be renamed Harbour Energy following the completion of its merger with Chrysaor, which will create the largest London-listed independent oil and gas company. Premier reached an agreement with Harbour’s UK operating company Chrysaor for a proposed all-share merger between Premier and Chrysaor and the reorganisation of Premier’s existing... Continue Reading →
Venezuelan state oil company Petroleos de Venezuela has begun transferring crude off of an offshore oil facility where governments in two neighboring countries have voiced concerns about a potential spill, two people familiar with the matter said on Tuesday. The company this week began the first of several transfers from the Nabarima floating storage and... Continue Reading →
The 10 Year Energy Plan (PDE) 2030 is in public consultation this week, bringing some expressive forecasts about how the oil and gas sector in Brazil will develop in this decade. The document points out that the exploration and production (E&P) segment should receive investments between US$ 415 billion and US$ 454 billion in the... Continue Reading →
Forbearance agreements between offshore drilling contractor Seadrill Limited and its creditors related to the company’s senior secured credit facility agreements and leasing arrangements have expired. As a result, Seadrill is exposed to legal actions if it fails to make necessary payments on time. Seadrill entered into forbearance agreements with certain creditors in respect of its senior... Continue Reading →
The challenges of 2020 have made their mark on offshore rig values but have they reached the trough? Bassoe's Hans Hagelberg takes a deeper look. It may be the understatement of the decade, but the offshore rig market has had a pretty bad year. The Coronavirus pandemic and collapsing commodity prices have resulted in dozens... Continue Reading →
(Reuters) - Brazilian investigators are pursuing the first criminal probe of current executives at commodities trading firm Trafigura on allegations they approved the bribery of employees at state-controlled oil producer Petrobras, according to three people familiar with the matter. The investigation has focused on two of the three top Trafigura directors, Co-head of Oil Trading Jose... Continue Reading →
Inadequate investment in exploration and new drilling may leave the world without enough oil in 20 to 30 years despite a shift towards renewable power sources, top energy analysts say. The long-term outlook contrasts with today's situation where plunging oil demand due to the coronavirus crisis has left the market oversupplied, prompting the Organization of the Petroleum Exporting Countries,... Continue Reading →
