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For nearly 80 years, Mexico kept its borders closed to foreign oil interests, with the state-owned and -run Petroleos Mexicanos (Pemex) being the only entity allowed to drill for gas in Mexican territory. In 2017, then-president Enrique Peña Nieto opened up Mexico’s considerable oil reserves to foreign oil companies and investors for the first time in nearly... Continue Reading →
Smack dab in the middle of an oil price crisis caused by an unprecedented demand loss, Exxon announced the latest in a string of discoveries off the eastern South American shore, this time in Suriname. It must have felt like adding insult to injury for OPEC producers and reckless behavior for investors, but offshore oil... Continue Reading →
ExxonMobil announced Juan Lessmann as president of ExxonMobil in Brazil to replace Carla Lacerda, who is retiring after 35 years with the company. Juan Lessmann will be responsible for the sustainable growth of affiliates. An ExxonMobil employee for more than 22 years, he has held outstanding positions in exploration and production around the world, including... Continue Reading →
The oil tanker Eagle Passos, a vessel of the AET company, has already departed for Brazil and will reinforce the Transpetro fleet. The new unit left the Samsung Heavy Industries shipyard in South Korea and is expected to dock in Rio de Janeiro around the 11th of next month. Eagle Passos is the latest in... Continue Reading →
Australian oil and gas company BHP, working to develop the Trion field offshore Mexico, has hired DNV GL to verify that the new infrastructure built for the Trion project is compliant with local and global safety, as well as other requirements. BHP acquired the Trion asset in Mexico’s first-ever Deepwater Bid Round in 2016. The... Continue Reading →
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 →
