Petróleo Brasileiro S.A. - Petrobras informs that it was notified, on this date, of preliminary decisions rendered by the Court of Justice of the State of Rio de Janeiro that determined the maintenance of the conditions of the contracts entered into between Petrobras and state distributors (CEG and CEG RIO), which will expire on 12/31/2021,... Continue Reading →
Oil Firms Predict Rising Output, But Warn of Higher Costs
(Reuters) U.S. oil and gas executives are predicting higher production and drilling activity next year as oil prices climb, but say they face sharply higher costs, according to a poll released on Wednesday by the Federal Reserve Bank of Dallas. Some 49% of executives surveyed said they aim to expand output next year, while 15%... Continue Reading →
Hexicon forms floating JV in Italy
(RE) Hexicon has teamed up with Avapa Energy to form a joint venture in Italy to develop floating wind projects in Italian waters. AvenHexicon is a 50:50 JV, which will have Hexicon license its patented technology for use in projects and for use by third parties. Hexicon said it has been looking for a partner... Continue Reading →
PetroRio forging ahead with field development off Brazil
Brazilian oil and gas company PetroRio has undertaken the required steps to move forward with the development of the Wahoo field – located offshore Brazil – by submitting a development plan to the National Petroleum Agency, Natural Gas and Biofuels (ANP). PetroRio reported last week that the declaration of commerciality of the Wahoo discovery and the development... Continue Reading →
Interview: André Lima Cordeiro, Executive Manager, Subsea Systems, Petrobras
Brazil has always pushed the boundaries of deepwater exploration and production – and it’s still doing so today. With some of the world’s largest deepwater reservoirs, that are often complex in themselves, it’s had to come up with new solutions. Elaine Maslin found out more from André Lima Cordeiro. (OE) Petrobras has often led the... Continue Reading →
Petrobras submits revised development plan for Brazilian field
(OM) Brazilian oil and gas giant Petrobras and its partners have submitted a revised development plan to the National Petroleum Agency, Natural Gas and Biofuels (ANP) for Tupi and Iracema fields – located offshore Brazil – in a bid to increase the recovery of hydrocarbons from the area. Petrobras reported on Wednesday that it has submitted the review of... Continue Reading →
Courts in four Brazilian states suspend Petrobras natgas price hikes
(Reuters) - Courts in four Brazilian states have suspended a 50% hike in natural gas prices planned by state-run oil company Petrobras, likely kicking off an intense legal battle between the firm, the distributors that buy its fuel and various political authorities. In a note on Tuesday night, the company, formally Petroleo Brasileiro SA (PETR4.SA), said... Continue Reading →
Brazil’s Petrobras dramatically boosts CO2 re-injection
(Reuters) - Brazilian state-run oil company Petrobras significantly increased the amount of carbon dioxide it re-injected into its offshore oilfields in 2021, a major step forward in the firm's emission-reduction goals. According to a release provided by Petrobras, formally Petroleo Brasileiro SA (PETR4.SA), the company re-injected 6.7 million tonnes of carbon dioxide produced in the oil... Continue Reading →
Petrobras concludes the sale of onshore fields in Espírito Santo – Cricare Cluster
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 08/27/2020, informs that it concluded today the sale of all of its stakes in 27 onshore exploration and production concessions, located in Espírito Santo, jointly denominated Cricaré Cluster to Karavan Seacrest SPE Cricare, a company in which Karavan O&G Participações e Consultoria Ltda.... Continue Reading →
CGX Energy moving forward with demobilisation activities off Guyana
Canadian oil and gas company CGX Energy will continue with the demobilisation of exploration drilling offshore Guyana, according to the Guyanese Maritime Administration Department. In its notice to mariners on Friday, the department confirmed CGX Energy’s demobilisation of exploration drilling is underway within the CGX-operated Corentyne block – where the Kawa-1 well is located – in Guyana’s Exclusive Economic... Continue Reading →
