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ExxonMobil’s Payara development, for which approval seems imminent, will see a commitment of US$3.6B this year from the oil major, says Norwegian business intelligence firm, Rystad Energy. Meanwhile, a model from the Inter-American Development Bank (IDB), in its recent report titled ‘Traversing a Slippery Slope: Guyana’s Oil Opportunity’, pegs the cost of the Payara field... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on August 3, 2020, informs the beginning of the binding phase regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO). Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 10/11/2019, informs that it has concluded today the sale of its entire stake in the onshore fields of the Lagoa Parda Cluster, located in the state of Espírito Santo, near the city of Linhares, to Imetame Energia Lagoa Parda Ltda., affiliate of Imetame... Continue Reading →
(Reuters) - Liquefied natural gas firm Hygo Energy Transition Ltd HYGO.O has postponed its planned New York initial public offering for several weeks and may scrap the listing entirely after its CEO was named in the early stages of a corruption investigation in Brazil, two sources familiar with the matter said. Eduardo Antonello, who has not been... Continue Reading →
Oil & gas production in Brazil was practically stable in August, according to data made available by the National Petroleum Agency (ANP). According to the agency, the country ended the period with 3.078 million barrels per day produced, a slight increase of 0.28% compared to the previous month. Natural gas, on the other hand, had... Continue Reading →
PetroRio received endorsement from the ANP to act as a natural gas trader, with the exception of LNG and CNG in bulk, and seller of the energy source, according to the agency's authorization and dispatch. PetroRio owns 10% of the Manati gas field, in Bahia, operated by Petrobras. Portion corresponds to a reserve of 3... Continue Reading →
The new development plans (DP’s) for 14 shallow water fields, recently approved by the ANP, indicate that the areas, previously in process of decline, will receive an injection of investments that exceed R $ 10 billion. This amount refers only to activities considered firm (mandatory) in the plans submitted to the ANP. This value can... Continue Reading →
Oilfield services company Baker Hughes has launched a vessel-deployed subsea wellhead cutting system called the Terminator. In what Baker Hughes says is "a first-of-its-kind mechanical wellhead removal method", the Terminator system has already been used to cut a subsea wellhead from an abandoned exploration well owned by Wintershall DEA in Norway. Romain Chambault, Europe vice... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in response to Official Letter 7132/2020/CGAA4/SGA1/SG/CADE, dated September 29, 2020, and further to the notice disclosed on August 3, 2020 about the lease of the LNG Regasification Terminal in Bahia (TR-BA) and associated facilities, hereby declares its commitment to waive all the capacity of the São Sebastião do Passé-BA, and São... Continue Reading →
(Reuters) - Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy. Shell, which had 83,000 employees at the end of 2019, said that the reorganization will lead to additional... Continue Reading →
