News
May 16, 2024
Oil firms that want to stay in Venezuela are flooding the U.S. Treasury’s Office of Foreign Assets Control with applications for permits after Washington reimposed sanctions last month, leaving officials struggling to clear the backlog.
News
May 16, 2024
Brazil President Luiz Inacio Lula da Silva will push the new head of Petrobras to speed the pace of investments into refineries and expand its natural gas supplies after ousting the state-run oil company’s chief executive officer, people familiar with his plans said.
News
May 16, 2024
GeoPark has signed a deal with Phoenix Global Resources to acquire non-operated working interests in four adjacent unconventional blocks in the Neuquén basin.
News
May 15, 2024
Further evaluation is being undertaken to determine the full extent of this offshore discovery and its potential for an integrated development with the recent Roystonea-1 and Sloanea-1 discoveries.
News
May 15, 2024
Prates’s dismissal was confirmed late Tuesday by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, as the company is commonly known, said in a statement late Tuesday that Prates is expected to officially resign at an upcoming board meeting.
News
May 14, 2024
From 2024 to 2028, Petrobras will start up 14 floating oil production platforms, which account for a third of the global FPSO orders in this period. There’s also a considerable demand for underwater systems to connect these units.
News
May 14, 2024
Venezuela’s armed forces have moved “substantial quantities” of personnel and equipment near the disputed, oil-rich Essequibo region that’s controlled by Guyana, a Washington-based think tank reports, potentially escalating tensions ahead of presidential elections.
News
May 10, 2024
Discussions of Guyana’s future as a regional—and global—powerhouse were at center stage in a discussion panel at OTC 2024. From the private sector to government involvement, the panel of speakers from ExxonMobil and the Guyanese government dove into the optic of Guyana’s “outsized role” to play in the global oil and gas industry, despite the country’s small geographic size.
News
May 09, 2024
The ExxonMobil-led Liza Unity FPSO project in the prolific Stabroek block offshore Guyana has reached peak production at 252,000 bpd. Exxon anticipates first oil production from their newest vessel, One Guyana, next year.
News
May 08, 2024
In a Monday panel at OTC 2024, several Petrobras representatives tackled the multi-layered operations in revitalization of the Campos basin offshore Brazil.
News
May 08, 2024
The REMOTE-CON notation demonstrates the vessel’s alignment with remote-control functions and signifies that the design and construction of the offshore asset are assessed against and adhere to the ABS Requirements for Autonomous and Remote Control Functions.
News
May 07, 2024
Earlier this year, using Nabors provided technology, Vista electrified the first drilling rig in Vaca Muerta, Nabors PACE® F24, which is entirely powered by renewable energy.
News
May 06, 2024
Located offshore Brazil in the Santos basin, Tupi is the country’s largest producing field, with an average volume of 850,000 bopd, accounting for 20% of the total produced in Brazil, according to Petrobras.
News
May 06, 2024
Exxon Mobil Corp. Chief Executive Officer Darren Woods foresees arbitration with Chevron Corp. over a premier asset offshore Guyana stretching into 2025 due to the importance of the case to both companies.
News
May 06, 2024
The FPSO Errea Wittu is expected to have a production capacity of 250,000 bopd, water injection capacity of 350,000 barrels of water per day, 540 MMcfd of gas production and a storage capacity of 2 MMbbl of oil.
News
May 03, 2024
Petroleo Brasileiro SA, as the state-run company is formally known, must speed up studies that will help it curb the amount of gas injected back into oil reservoirs to boost crude production, Silveira said in an interview. That will free up more gas for sale. Petrobras - and other oil majors - should also invest in new gas pipelines to increase domestic supplies, he said.
News
April 30, 2024
Petrobras' average production of oil, NGL, and natural gas in Q1 2024 reached 2.8 MMboed, an increase of 3.7% compared to last year. The evolution of production (ramp-ups) of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi, and Sepetiba are responsible for the increase, as well as beginning production from 19 new wells from complementary projects in the Campos and Santos basins offshore Brazil.
News
April 29, 2024
Chevron Corp. expects a resolution to a dispute with Exxon Mobil Corp. over a Guyana oil contract in coming months that would allow for the completion of the $53 billion acquisition of Hess Corp. this year.
News
April 29, 2024
Exxon is set to become the Permian’s biggest producer once it closes its $64 billion acquisition of Pioneer Natural Resources Co. while Chevron is spending $52 billion on Hess Corp. to gain a 30% share of Guyana’s prolific Stabroek Block.
News
April 26, 2024
erenco Brazil will implement an ambitious redevelopment plan to revitalize the assets, restart production to a target rate of 10,000-15,000 bopd and unlock over 50 MMstb of reserves.
News
April 26, 2024
In the past two years, TotalEnergies, Shell Plc and Galp Energia SGPS SA have made finds off the southwest coast of Africa that turned sparsely populated Namibia into a hotspot for exploration. While no field has yet been given the green light for development, hopes are high in the country that an economic boom similar to that seen in Guyana could be on the cards.
