Oslo-listed oil and gas company BW Energy, responding to press speculation, said Monday it had not made any formal decision to buy any of Brazil-based Petrobras' assets. BW Energy said it had noted the press speculation regarding the possibility of BW Energy acquiring the Golfinho field in Brazil, which Petrobras has put up for sale.... Continue Reading →
World to reach peak oil demand before 2030 – TotalEnergies
(Reuters) - Global oil demand is expected to peak before 2030, earlier than previously projected, TotalEnergies (TTEF.PA) forecast on Monday. The French oil major - which had previously forecast the peak happening around 2030, rather than before - said its business was now working on the assumption that global consumption would start declining before the end of... Continue Reading →
As OPEC Reopens the Taps, African Giants Losing Race to Pump More
(OE) Top African oil exporters Nigeria and Angola will struggle to boost output to their OPEC quota levels until at least next year as underinvestment and nagging maintenance problems continue to hobble output, sources at their respective oil firms warn. Their battle mirrors that of several other members of the OPEC+ group who curbed production... Continue Reading →
CNOOC Seeks to Raise $5.4B to Fund Key Oil and Gas Projects
China's state-run offshore oil and gas major CNOOC Ltd said it plans to raise up to 35 billion yuan ($5.41 billion) in a new share issue on the Shanghai stock exchange to fund several key oil and gas projects. The domestic fund-raising plan came as U.S. sanctions on CNOOC has forced global investors to exit... Continue Reading →
Brent oil nears $80 a barrel amid supply constraints
(Reuters) - Oil prices rose for a fifth straight day on Monday with Brent at its highest since October 2018 and heading for $80 amid supply concerns as demand picks up in parts of the world with the easing of pandemic restrictions. Brent crude was up 92 cents or 1.2% at $79.01 a barrel by... Continue Reading →
Fugro wraps up geohazard survey offshore Suriname
Fugro has completed a geohazard site investigation programme for TotalEnergies off the north-west coast of Paramaribo in Block 58 of the Guyana-Suriname Basin. The project involved the acquisition and analysis of geophysical data and geotechnical soil samples approximately 150 kilometres offshore in water depths ranging from 60 metres to 2,100 metres. Fugro carried out the... Continue Reading →
Harbour re-focuses Latin America operations on Mexico
Harbour Energy will exit its exploration license interests in the Ceará basin off northeast Brazil and in the Burgos basin offshore Mexico. The company, formed last year from the merger between Chrysaor and Premier Oil, said its exploration strategy was to focus mainly on infrastructure-led, lower risk opportunities in areas where the company already has a producing... Continue Reading →
ANP APPROVES RESOLUTION ON DECOMMISSIONING GUARANTEES FOR OIL AND GAS FACILITIES
The National Petroleum Agency (ANP) this week approved a resolution that deals with procedures for presenting guarantees and instruments that ensure the decommissioning of production facilities in oil and gas fields in the country. The presentation of these financial guarantees was already foreseen in the exploration and production contracts. The agency's new resolution brings more... Continue Reading →
Petrobras concludes sale of interest in GásLocal
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/25/2020, informs that it concluded, on this date, the sale of its 40% interest in the company GNL Gemini Comercialização e Logística de Gás Ltda. (GásLocal) to White Martins Gases Industriais Ltda. (White Martins), ending the controversies arising from the activities of the... Continue Reading →
Petrobras announces redemption prices for two series of notes
Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices to the holders of the outstanding 4.250% Global Notes due 2023 (“4.250% Notes”) and 4.375% Global Notes due 2023 (“4.375% Notes” and, together with the 4.250% Notes, the “Notes”) announcing the redemption prices for... Continue Reading →
