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Sept 9, 2020 Tullow Oil is exploring ways to fend off a potential cash crunch as the London-listed group reported a $1.3 billion loss after it was forced to write down $1.4 bln due to collapsing demand for oil. Tullow, with a market cap of $361 million as of Tuesday and $3 billion in debt,... Continue Reading →
September 8, 2020 Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, reports that it was notified today by Capital Research Global Investors (CRGI), independent investment division of Capital Research and Management Company, that it has acquired preferred shares issued by the company and it manages... Continue Reading →
Sept 8, 2020 Mexico is cutting its 2021 forecast for oil production at Petroleos Mexicanos by 8.4% as the state producer struggles under a $107 billion debt load and the impact of the deadly coronavirus. The country’s Finance Ministry lowered its preliminary estimate for output next year to 1.857 million barrels a day, down from... Continue Reading →
Sept 8, 2020 Baker Hughes is pivoting to customers preparing for the transition to a low-carbon future, bolstering its footprint beyond oil and gas oilfield services, its chief executive said on Tuesday. The company will continue to downsize its oilfield services and equipment portfolio, CEO Lorenzo Simonelli said at the Barclays CEO Energy-Power conference, putting... Continue Reading →
September 9, 2020, by Bojan Lepic U.S.-based oil and gas company Kosmos Energy has entered into an agreement with a subsidiary of Royal Dutch Shell to farm down interests in a portfolio of frontier exploration assets for up to $200 million. São Tomé & Príncipe assets; Source: Kosmos Energy Kosmos said on Wednesday that Shell would... Continue Reading →
Sept 8, 2020 The ANP board approved the postponement of the declaration of commerciality of the Discovery Assessment Plan (PAD) for wells 1-HRT-2-AM and 1-HRT-8-AM, located in blocks SOL-T-169, SOL-T -170 and SOL-T-192, in the Solimões Basin. With the decision, the company's deadline to declare commercialization of the two-well PAD has been extended to 2025.... Continue Reading →
September 8, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated August 10, 2020, informs the beginning of the binding phase regarding the sale of 50% to 100% of its stake, with the passing of the operation, in the BM-S-51 concession, in the Santos Basin. The concession is located at water depths... Continue Reading →
The worldwide offshore rig count in August 2020 dropped by 74 rigs year-over-year but is up 3 rigs sequentially, according to a report by Baker Hughes. Baker Hughes splits its report into an international and North America one, which combine into a worldwide rig count.\ Continue reading
U.S. oil company ExxonMobil has made an oil discovery at the Redtail-1 well, offshore Guyana, Hess, Exxon's partner in the prolific Stabroek Block has said. This is the U.S. oil major's 18th discovery offshore Guyana in the same block and will add the previously announced gross discovered recoverable resource estimate for the block of more than... Continue Reading →
Sept 8, 2020 The Panel uses a business intelligence (BI) tool to present daily production information for wells, fields and installations. The new panel, with daily data, complements the Dynamic Panel for the Production of Oil and Natural Gas, launched by the ANP in 2019, which brings consolidated monthly data. By presenting daily data, the... Continue Reading →
