Energy & Oil

• Tuesday, February 2nd 2021 - 08:54 UTC

  Petrobras strikes oil in the pre-salt Campos Basin offshore Rio de Janeiro

  

  Brazil's oil and gas giant Petrobras announced a hydrocarbon discovery in the pre-salt Campos Basin offshore Rio de Janeiro state, some 200 kilometers from the coast and at a depth of 2,950 meters.

• Friday, January 29th 2021 - 08:42 UTC

  Hess Exploration investing heavily in its Guyana oil offshore operations

  

  The Hess Exploration company is betting strongly in the opportunities of its Guyana operations. With a 30% interest in the Stabroek Block, it has allotted more than 80% of its capital and exploratory budget of US$1.9 billion for 2021 to its offshore blocks.

• Friday, January 29th 2021 - 08:07 UTC

  Stanley's RPI drops in last quarter: reduced cost of fuel and power

  

  The Falkland Islands capital, Stanley Retail Price Index (RPI) indicated that the cost of living has dropped again in the last quarter of 2020 after a steady increase in the previous two quarters.

• Tuesday, January 26th 2021 - 09:30 UTC

  Petrobras oil output hits record in 2020, 2,3 million bpd

  

  By Irina Slav for Oilprice.com – Crude oil output from fields operated by Brazil's energy major Petrobras hit a record last year despite the pandemic, at an average 2.3 million BPD, Bloomberg reported, comparing the production rate to that of Kuwait.

• Tuesday, January 26th 2021 - 09:20 UTC

  Argentina's mining output fell 70% in 2020 compared to the previous year

  

  The Argentine Chamber of Mining Entrepreneurs (CAEM) reported that the country’s mining output fell by 70% y-o-y in 2020 due to the effects of the Covid-19 pandemic. CAEM also said that small and medium-sized mining operations, which tend to be family-owned, saw a 40-50% fall in production.

• Monday, January 25th 2021 - 08:23 UTC

  Bolivia announces new biodiesel production plan

  

  Bolivia will build ecological diesel and biodiesel plants to reduce imports of liquid fuels, Hydrocarbon and Energy Minister Franklin Molina announced over this past weekend.

• Thursday, January 14th 2021 - 09:54 UTC

  Uruguay signs contract to resume offshore seismic surveying for oil and gas

  

  Norwegian oil and gas exploration seismic data company PGS has signed an agreement with Uruguay's state oil company ANCAP to reprocess over 11 000 km of existing 2D lines of various vintages, applying the latest seismic imaging techniques.

• Thursday, January 14th 2021 - 09:19 UTC

  Brazilian oil export record in 2020, average 1,4 million bpd

  

  Brazil established a new record for oil exports in 2020, with sales averaging 1,4 million bpd and a peak of 1,9 million bpd during the month of May, according to the Mines and Energy minister Bento Albuquerque. The minister also announced that on 7 January, Brazil's oil giant Petrobras reached a daily production record of 2,84 million barrels of oil, beating the previous mark set in 2015, with 2.79 million BOE/day.

• Wednesday, January 13th 2021 - 09:33 UTC

  Premier Oil becomes Harbor Energy; merges with Chrysaor to make North Sea's largest oil and gas producer

  

  Premier Oil announced on Tuesday that shareholders voted in favor of a reverse takeover of private equity-backed Chrysaor to create the British North Sea’s biggest oil and gas producer in which Premier shareholders will hold about 5.5%.

• Monday, January 4th 2021 - 04:55 UTC

  Opec meeting via videoconference to decide on February production level

  

  Members of the Opec group of oil producers and their partners will meet via videoconference next Monday to decide on production levels for February, hoping to turn the corner on a difficult year. The Opec+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and a price war between Saudi Arabia and Russia.