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Oil major BP now expects to deliver divestment proceeds and announced transactions totalling around $10 billion by the end of 2019, comprising the majority of its two-year divestment program planned to complete by the end of 2020. Following the $10.25 billion all-cash acquisition of US onshore assets from BHP in 2018, BP announced a $10... Continue Reading →
Oil major Chevron has been awarded two offshore blocks in the Santos and Campos basins as part of Brazil’s 16th Bidding Round for oil and gas exploration blocks, with its partners Wintershall Dea and Repsol. Wintershall Dea said on Thursday it would hold an interest of 20% in the blocks S-M-766 and C-M-845, alongside its... Continue Reading →
The company said on Thursday that the tender comprised the delivery of a significant number of manifolds for a deepwater field. Subject to completion of internal processing by the client, Aker Solutions expects to enter into exclusive negotiations for a potential contract award. The company has not revealed any further details about the project. Aker... Continue Reading →
Due to several factors including lack of liquidity (transaction activity), less willingness by investors and banks to finance rig acquisitions, expectations of a prolonged low-dayrate environment, and additional distressed or available supply in the market, offshore rig values have decreased across all segments in Bassoe Analytics. It should be noted that the sale and purchase market... Continue Reading →
Oct 10, 2019 (Bloomberg) --Ecuador’s state-owned oil company Petroecuador was forced to declare force majeure on its crude exports, and U.S. West Coast refiners could be the ones hurt the most. Protests in Ecuador over fuel prices have temporarily shut some oilfields, slowing the flow of crude and causing Petroecuador to shut a key pipeline.... Continue Reading →
France’s Total SA (TOTF.PA), the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for Nov. 6 of the so-called Transfer of Rights area in Brazil’s pre-salt region. The company’s chief executive officer, Patrick Pouyanné, said in a statement that was because... Continue Reading →
Oct 10, 2019 With a premium of 322%, the result was a record in rounds under the concession regime. RIO - The 16th Bidding Round, held on the morning of Thursday, 10, was marked by the presence of large oil companies. The government raised R$ 8.915 billion in signing bonuses from 11 companies and consortia... Continue Reading →
October 10, 2019 - Petróleo Brasileiro SA - Petrobras reports that it has acquired one offshore block in the 16th ANP Bidding Round under the Concession Regime, held today by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The company is advancing its partnership strategy and will be the operator. The total amount... Continue Reading →
Oct 10, 2019 As anticipated by PetróleoToday, Shell began the Alto de Cabo Frio Oeste exploratory campaign, a 3rd round sharing area located in the Santos Basin. The Constellation Brava Star drillship will drill well 1-SHEL-31-RJS in a 1,720 m water depth. The work continuous after drilling the pioneer well of Sul do Gato do... Continue Reading →
Oct 10, 2019 Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find. Minister Bento Albuquerque said that Thursday's auction surpassed expectations, following the conclusion of bidding.... Continue Reading →
