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Oil prices on Monday saw the biggest surge since 1991 following a drone attack on the state-owned Saudi Aramco’s oil processing facility in Saudi Arabia, according to Reuters. The attack has shut down about 5% of the world’s crude output, but the impact of the attack on crude oil flows will depend on the duration... Continue Reading →
Sept 16, 2019 The government intends to make the pre-salt exploration regime more flexible by allowing blocks in these areas to be auctioned off in the concession model - in which the company owns the oil but assumes the risk of the activity, and the winner of the auction is who offers the highest bid.... Continue Reading →
13 September 2019 The ANP Collegiate Board of Directors examined the request for contractual termination without charge of the concession contracts of blocks REC ‑ T ‑ 194, REC ‑ T ‑ 208, REC ‑ T ‑ 209, REC ‑ T ‑ 225, REC ‑T ‑ 239, REC ‑ T ‑ 240, REC ‑ T... Continue Reading →
Sept 16, 2019 Senior vice president and chief financial officer (CFO) of offshore drilling contractor Noble Corporation has resigned from the company. Noble Corporation said last Friday that its SVP and CFO Adam C. Peakes resigned effective September 9, 2019. The company added that a search for Peakes’ replacement has already begun. In the interim,... Continue Reading →
Oil and gas major ExxonMobil has made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. This is the 14th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block, ExxonMobil... Continue Reading →
September 16, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) today announced the expiration and expiration date results of the previously announced offers to exchange (the “Exchange Offers”), by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), relating to seven series of its outstanding notes set forth in the tables below (the “Old... Continue Reading →
September 16, 2019 Petróleo Brasileiro S.A. - Petrobras reports that the P-68 platform left today the Jurong Aracruz Shipyard, heading to the Berbigão and Sururu fields, in the Santos Basin pre-salt. Production of these fields is expected to begin in the fourth quarter of 2019. In line with its 2019-2023 Business and Management Plan, P-68... Continue Reading →
Brent crude surged the most on record after a drone strike on a Saudi Arabian oil facility removed about 5% of global supplies. The benchmark oil futures jumped as much as $11.73/bbl to $71.95 as the market opened Monday in Asia, the biggest advance in dollar-terms since futures started trading in 1988. For oil markets,... Continue Reading →
Shearwater GeoServices has been awarded a 3D Isometrix seismic survey by Colombia’s Ecopetrol. This will be the first Isometrix survey in Latin America with marine acquisition starting in 4Q 2019. Shearwater said on Monday that the survey covers 2,000 sq. km of 3D seismic offshore Colombia on Ecopetrol’s Block COL-5 and will acquired by the... Continue Reading →
Oil and gas company Tullow Oil has made a second oil discovery offshore Guyana. The Joe-1 exploration well has opened a new Upper Tertiary oil play in the Guyana basin. Tullow started drilling at the Joe prospect in the Orinduik block offshore Guyana, the company’s second well in the block after the Jethro-1 well, in... Continue Reading →
