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Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due to an American Petroleum Institute (API) report showing rising crude inventories in the United States and, analysts... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Strategic Plan 2022-26 (SP 2022-26) is under preparation. Following the previous years, in SP 2022-26 the Company intends to present its production curve, the plan's financing, as well as the investment projection (CAPEX), including the amount to be spent each year and the main projects to be... Continue Reading →
(PetroNoticias) Petrobras began drilling a wildcat well (1-BRSA-1382D-RJS) in the Tres Marias block, in the Santos basin. The activity is being carried out with the Ocean Courage rig, in a water depth of 2223 meters. The information was released by the National Petroleum Agency (ANP). As a reminder, the Tres Marias block was sold during... Continue Reading →
(Rigzone) Fitch Solutions Country Risk & Industry Research has released its latest oil price forecasts to 2025. In a report sent to Rigzone on Monday, the company projected that Brent crude prices will average $70 per barrel in 2021, $67 per barrel in 2022, $68 per barrel in 2023, $70 per barrel in 2024 and... Continue Reading →
(PetroleoHoje) Cade approved two 3R acquisitions in the Potiguar Basin: the purchase of shares issued by Duna Energia, which will make the oil company a full subsidiary of 3R, integrating the Ponta do Mel and Redonda fields in the portfolio; and the acquisition of a 50% stake in Galp in the Sanhaçu field. Both operations... Continue Reading →
(PetroleoHoje) Premier Oil do Brasil ended its exploratory activities in the country in September. After eight years working in Ceará, the oil company delivers the last exploratory asset in the portfolio. The oil company returned its last block, CE-M-717, in the Ceará Basin, acquired in the 11th Round, as part of the group's global restructuring... Continue Reading →
DP World's subsidiary Drydocks World Dubai has started converting an Aframax tanker capable of carrying 700,000 barrels of oil to a Floating Storage and Offloading Unit (FSO) for Dixstone, part of Perenco. As part of the extensive modification and life extension work at the FSO Pargo project, Drydocks will apply a new hull coating, which... Continue Reading →
(Reuters) - Spain's Repsol (REP.MC) raised its targets for building new renewable generation capacity and cutting emissions from its oil and gas business on Tuesday as part of a bid many in its sector in Europe are making to stave off global warming. The company said it now plans to have installed wind, solar and hydro plants... Continue Reading →
(Reuters) - Brent crude oil futures hit a fresh three-year high on Tuesday, with U.S. benchmark crude close to 2014 peaks, after the OPEC+ group of producers decided to stick to its planned output rises rather pumping even more. OPEC+ agreed in July to boost output by 400,000 barrels per day (bpd) each month until... Continue Reading →
(Valor) The inclusion of blocks in the Potiguar and Pelotas basins in the 17th Round of the ANP, scheduled for Oct 7th, puts into discussion the environmental licensing of areas considered sensitive to oil activity. Under debate is the possibility of carrying out the licensing in advance or, at least, redeeming the assessment instrument that... Continue Reading →
