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Brazil’s Oil and Gas Market Revival in Numbers

Jan 03, 2019

Brazil’s oil and gas sector related businesses traded about R$22 billion (about US$5.6 billion) in the last two years. This figure from the National Agency for Petroleum, Natural Gas and Biofuels (ANP) was presented during a ceremony on the balance of advances in the sector…

Ophir Awaiting Fortuna Block Extension

Dec 31, 2018

Ophir Energy said it is still awaiting a response from Equatorial Guinea's Ministry of Mines and Hydrocarbons (MMH) with regards to its request for an extension of the Block R licence, where Africa's first deepwater independent floating liquefied natural gas (FLNG) project is planned…

Caspian is Key for Lukoil

Dec 24, 2018

Alexander Oboronkov leapt at the chance to work on the Filanovsky platform after it was launched in 2016, keen to see Russia's largest Caspian Sea oilfield in action.The Filanovsky oilfield, along with the nearby Korchagin and Rakushechnoye fields…

Petrobras Suspends New Divestments

Dec 21, 2018

Brazil's state-controlled Petroleo Brasileiro SA will suspend any new divestment initiatives in oil exploration or production, the company said on Thursday, following a Supreme Court decision.The decision suspended an agreement between Petrobras…

Nine US States Seek to Stop Atlantic Seismic Testing

Dec 20, 2018

Attorneys general from nine U.S. states sued the Trump administration on Thursday to stop future seismic tests for oil and gas deposits off the East Coast, joining a lawsuit from environmentalists concerned the tests harm whales and dolphins…

Mexico Targets 50% Jump in Oil Output

Dec 17, 2018

Mexico aims to lift oil and gas production by almost 50 percent in the next six years and in January will award infrastructure and drilling contracts to develop 20 fields, state oil firm Petroleos Mexicanos said on Saturday.Octavio Romero, chief…

Brazil Council Approves Sixth Round Pre-salt Auction

Dec 17, 2018

The Brazilian energy advisory council on Monday approved the sixth-round auction for Brazil's coveted pre-salt offshore oil area to be held next year, the energy ministry said.The auction will include the two new blocks of Southwest Sagittarius…

Coast Guard Working to Contain MC20 Leak

Dec 17, 2018

The U.S. Coast Guard said it has partially assumed federal control of response operations to contain an oil discharge from the site of the collapsed Mississippi Canyon Block 20 (MC20) offshore platform in the Gulf of Mexico, approximately 11 miles south of the mouth of the Mississippi River…

Pemex Eyes Shallower Waters

Dec 17, 2018

Mexican state-run oil giant Petroleos Mexicanos will focus on existing shallow water assets and refining next year at the expense of riskier, deepwater projects under a new government that has vowed to turn around the ailing company.The 2019…

Norne FPSO Extended Through 2036

Dec 14, 2018

Norway's Petroleum Safety Authority has given Equinor the green light to extend the operation of the Norne floating production storage and offloading vessel (FPSO) and associated facilities until the end of 2036.'The consent has been granted…

Norway Postpones Decision on Arctic Oil Terminal

Dec 14, 2018

The Norwegian government has postponed a decision on whether to mandate the construction of an oil processing terminal near the Arctic tip of northern Europe until the third quarter of next year, it said on Friday.If built, the onshore Veidnes…

Brazil Reaches Deal with Petrobras Over Transfer of Rights Area

Dec 12, 2018

The Brazilian government has reached an agreement with state-controlled oil company Petróleo Brasileiro SA over the so-called transfer of rights area, Finance Minister Eduardo Guardia said on Wednesday.Guardia declined to disclose values nor who is owed what under the terms of the agreement…

US Government Sued Over Atlantic Seismic Testing

Dec 11, 2018

Environmental groups opposed to offshore drilling sued the federal government on Tuesday to prevent future seismic tests for oil and gas deposits in Atlantic waters off the U.S. East Coast.Seismic testing, which uses air gun blasts, violates federal laws that protect marine mammals…

Mexico President's Pemex Plans Rattle Debt-holders

Dec 11, 2018

Mexican President Andres Manuel Lopez Obrador's declaration of war on 'neo-liberal' economics has shaken investors holding Petroleos Mexicanos bonds, fueling concern about the future of the highly-indebted state oil company he has pledged to revive…

Chevron Gets Green Light for Captain EOR

Dec 11, 2018

Energy giant Chevron announced Tuesday it has received approval from the U.K. Oil and Gas Authority (OGA) to move ahead with its plans for an Enhanced Oil Recovery (EOR) project that aims to unlock millions of extra barrels of oil and extend the life of the long-producing Captain field in the U…

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