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Mexico’s Petroleos Mexicanos aims to balance its budget by 2021 and reverse a decade and half of declining crude production as early as next year. Under the presidency of Andres Manuel Lopez Obrador, Pemex will invest 1.95 trillion pesos ($102 billion) by 2024, it said in an emailed document ahead of the release of its... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced its operational update for the three-month period ended June 30, 2019 (“2Q2019”). Continue reading
July 16, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announced today the early results of its previously announced debt tender offers (the “Waterfall Offers”). As of 5:00 p.m., New York City time, on July 15, 2019 (the “Early Tender Deadline”) holders of US$1,790,166,000 principal amount of the outstanding notes of the series... Continue Reading →
July 16, 2019 Enauta is licensing with Ibama the installation of an FPSO with the capacity to produce 50,000 barrels per day of oil in the Atlanta field in the deep waters of the Santos Basin. The company estimates that the production unit will begin production in 2022. The Atlanta field currently produces from an... Continue Reading →
July 16, 2019 Spectrum began licensing a campaign to acquire 6,600.97 km² of 3D seismic data in the exploratory blocks area ES-M-592 and ES-M-667, in the Espírito Santo Basin. The campaign is contracted by the companies CNOOC and Repsol, operator of the blocks, and is expected to start in December. The area of acquisition... Continue Reading →
July 16, 2019 While ANP finalizes analysis of the process, Petrobras submits a proposal for the development of the field to Ibama The ANP is about to approve the full assignment of rights for the Maromba field, in the Campos Basin, to BW Energy. If completed, the decision will mark the debut of the oil... Continue Reading →
Earlier this year, geologist Pedro Zalan, a consultant to Petrobras, the Brazilian state oil company, analyzed new seismic survey data and calculated that a huge volume of oil is likely buried deep within the seabed, far off the country’s southern coast. The news was at once exciting and worrying for a country distressed by financial... Continue Reading →
Rio de Janeiro, July 15, 2019 - Petróleo Brasileiro SA - Petrobras, following up on the release dated 06/28/2019, announces the beginning of the non-binding phase related to the first phase of the sale of assets in downstream and associated logistics in Brazil, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves... Continue Reading →
Recently announced plans to foster competition in the Brazilian natural gas market may trigger a wave of privatizations among state-controlled distribution companies, luring international and domestic bidders, experts on the sector say. Brazil’s Cosan SA and Spain’s Naturgy Energy Group SA, are among the companies potentially interested in the segment, which also include Portugal’s Galp,... Continue Reading →
Petrobras has received from Ibama the license to install FPSO P-70, the first unit of the Atapu field, scheduled to begin production in 2020. Atapu is a field in the transfer of rights area, discovered in the area originally called the Entorno de Iara, and has an extension in the concession area of the BM-S-11... Continue Reading →
