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(Reuters) - Peru's embattled state-owned oil firm Petroperu (PETROBC1.LM) will not submit its annual financial audit before the end of July, new Chief Executive Francisco de la Torre told Reuters on Tuesday, meaning it will miss a key May deadline to present the document. Petroperu was downgraded earlier this month to junk by credit agencies after accounting... Continue Reading →
(PN) Shell notified the discovery of evidence of natural gas in block C-M-791, located in the Campos Basin, off the coast of Rio de Janeiro, in a water depth of 2,917 meters. The discovery took place in well 1-SHEL-34A-RJS (Bob-1A), according to information from the National Petroleum Agency (ANP). The drilling of the Bob-1A well... Continue Reading →
Subsea 7 ended 2021 with excellent operational and financial performance. Revenue reached US$ 5 billion, representing growth of 45% compared to the previous year. The company's EBITDA reached US$ 521 million, an increase of 55% compared to 2020. Net income for the year was US$ 36 million. The global order backlog hit the $7.2 billion... Continue Reading →
(Offshore Energy) Oilfield services provider Baker Hughes has inked a deal to acquire Altus Intervention, a provider of well intervention services and down-hole oil & gas technology, to strengthen its technological capabilities while enabling its customers to maximise production from fields. Baker Hughes informed on Monday that it is acquiring Altus Intervention to bring critical capabilities... Continue Reading →
(PetroleoHoje) Transocean and Maersk Drilling continue in the dispute for the charter of the rig that will operate alongside the West Saturn unit for Equinor, drilling the development wells of the Bacalhau project, in the Santos Basin. The two groups presented the best proposals, being selected to proceed with the negotiation process with the Norwegian... Continue Reading →
(Reuters) Flaring by the energy sector in Mexico hit record levels last year while the number of sites where gas is burnt off also rose despite government pledges to reduce such activity, research by a leading team of scientists showed. The practice releases carbon dioxide, black carbon, and other pollutants as well as methane, a... Continue Reading →
(Reuters) - The UK government is preparing to step in and temporarily run Russian gas giant Gazprom's British retail supply arm, Bloomberg News reported on Monday, as companies cut ties with Russian businesses. Gazprom Marketing & Trading Retail Ltd, whose ultimate parent is the Russian state-run Gazprom, is a prime candidate to be taken into... Continue Reading →
(Reuters) Brazil this decade expects to gradually add 3 million barrels per day of oil and gas to its production but cannot speed up those plans to offset a ban on Russian oil, top oil regulator Rodolfo Saboia told Reuters last week. One of the largest and fastest-growing non-OPEC oil producers, the South American country... Continue Reading →
The National Petroleum Agency (ANP) approved the request for declaration of commerciality for Wahoo, in the Campos Basin, operated by the independent oil company PetroRio. The request had been filed by the company at the end of last year. The field is located in block C-M-101 and has 126 million recoverable barrels of oil (1C),... Continue Reading →
Three U.S. oilfield services providers – Halliburton, Schlumberger, and Baker Hughes – have decided to suspend any future investments and operations in Russia following the country’s attack on Ukraine and the widespread sanctions imposed as a result of the war. The attack gave rise to numerous sanctions not only against Russia but also against its... Continue Reading →
Brazil Energy Insight 