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Oil markets tumbled more than 30% after the disintegration of the OPEC+ alliance triggered an all-out price-war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences. Brent futures suffered the second-largest drop on record in the opening seconds of trading in Asia, behind only the plunge during the Gulf... Continue Reading →
March 6, 2020 - Petróleo Brasileiro S.A. - Petrobras, following the press release disclosed on December 30, 2019, reports that it has entered into a new amendmentto the natural gas supply agreement (GSA) with Yacimientos Petrolíferos Fiscales (YPFB). The amendment signed today refers to the volume of gas contracted in 1999, at the beginning of... Continue Reading →
Following IHS Markit’s cancellation of its CERAWeek conference in Houston, several other organizers of major oil and gas industry events have followed suit in the wake of the spread of the COVID-19 coronavirus. Organizers of the Offshore Technology Conference, however, said this week that, for now at least, the show will go on. Continue reading
Diplomats and foreign observers on Thursday questioned preliminary results of Guyana's presidential election as incumbent David Granger claimed victory and the opposition denounced fraud, setting up a showdown in the oil-rich South American nation. The former British colony on Monday voted to choose who will oversee an oil boom that promises to be transformative for... Continue Reading →
Mar 5, 2020 The board of the National Petroleum, Gas and Biofuels Agency (ANP) approved the sale of 30% of the Sul do Gato do Mato field (Production Sharing Contract), in the Santos Basin pre-salt, to Ecopetrol. With the new distribution in this block, Shell now holds a 50% interest in the project (previously its... Continue Reading →
There were 270 offshore drilling rigs in the world actively drilling for oil and gas in February 2020, a slight increase compared to January 2020 (at 268), but also a slight dip versus February 2019 (at 272). This is according to Baker Hughes' February rig counts, released Friday. International offshore rig count - not counting... Continue Reading →
March 06, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of its fuel and lubricant distribution and marketing businesses in Colombia. This project aims to sell 100% of the shares held by Petrobras International Braspetro B.V. (PIB BV) and other Petrobras subsidiaries, in... Continue Reading →
March 6, 2020 ExxonMobil CEO Darren W. Woods, during a presentation to investors at the New York Stock Exchange (NYSE), said that the company plans to expand exploratory activity in Brazil this year and in 2021. He did not give details about the activities, but, as published, the oil company is expected to drill a... Continue Reading →
Large Diameter Drilling (LDD) and Barge Master have completed what the companies claim to be "a world first" - drilling from a diving support and construction vessel (DSCV) in water deeper than 270 meters. The two companies deployed LDD’s reverse circulation LD2500 drill rig with Barge Master’s motion compensation platform (BM-T700) aboard the SBM Installer... Continue Reading →
Mar 04, 2020 New worldwide standard for sulphur rates in marine fuels has generated an unique opportunity for the company Petrobras has set a new record this year in February for fuel oil exports, reaching the 238 thousand barrels per day mark and exceeding one million tons this month. The new world standard for marine... Continue Reading →
