The board of the National Petroleum Agency (ANP) approved a resolution that will reduce the collection of royalties for small and medium-sized oil companies operating in the country. With the new standard, the new percentages charged will be 5% for small companies and 7.5% for medium companies. As is to be expected, the measure is... Continue Reading →
(PetroNoticias) The National Petroleum Agency (ANP) approved the transfer of 100% of the Petrobras stake in the Miranga cluster in Bahia, to PetroReconcavo. The regulatory agency also gave the green light for the full sale of Polo Peroa, in the shallow waters of Espírito Santo, to 3R Petroleum. As a reminder, the sale of the... Continue Reading →
U.S. oil major ExxonMobil has awarded Norwegian offshore seismic data acquisition firm PGS a contract for a 3D survey offshore Suriname. PGS' 104.2 meters long Ramform Tethys seismic vessel is scheduled to start the acquisition during the fourth quarter of 2021, and it is planned to complete in the first quarter of 2022. The vessel... Continue Reading →
(Reuters) - Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China's first public sale of state crude reserves. Brent crude was up 222 cents, or 0.28%,... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday raised interest rates by 100 basis points and flagged a third straight hike of that size in October as it battles surging inflation with the world's most aggressive monetary tightening. The bank's rate-setting committee, known as Copom, decided unanimously to raise its benchmark rate to 6.25% as forecast... Continue Reading →
SBM Offshore is pleased to announce that it has secured a US$635 million bridge loan facility for the financing of the construction of FPSO Almirante Tamandaré. The facility was secured by the special purpose company which will own FPSO Almirante Tamandaré. Currently, SBM Offshore is the sole owner of this special purpose company. Discussions around... Continue Reading →
The Nigerian government expects the country to produce 1.88 million barrels per day of crude oil in 2022 and will use a benchmark oil price of $57 per barrel for its budget planning, according to a document approved by the Senate on Wednesday. The Medium-Term Expenditure Framework (MTEF), a crucial part of the annual budget... Continue Reading →
Vessel utilization in the offshore oil and gas seismic data acquisition sector has reached pre-pandemic levels in the third quarter of 2021, Rystad Energy has found. Rystad, a Norway-based energy industry intelligence firm, said that, after several devastating quarters caused by the pandemic, the seismic fleet’s hibernation is now over, with around 68% of the fleet... Continue Reading →
BW Offshore may acquire another asset in Petrobras' divestment program. Industry sources confirmed to PetroleoHoje that the Norwegian oil company was recently selected as the preferred bider for the Golfinho cluster, a deep-water package in the Espírito Santo Basin. Although BW Offshore does not comment on the subject, the company's proposal would have been around... Continue Reading →
Harbour Energy, a London-listed oil firm created through a merger between Chrysaor and Premier Oil, has decided to exit the Sea Lion oil field development in the Falkland Islands. The company has a 60 percent stake in the oil field, with Rockhopper Exploration holding the remaining 40 percent stake. The field was discovered in 2010 by Rockhopper,... Continue Reading →
