Brazil will hold an offshore oil deposit auction in October featuring blocks that were the object of a long-running dispute with state energy giant Petrobras. Reuters reports, citing Economy Minister Paulo Guedes, that participants in the auction will need to cough up a signing bonus of a total US$26.9 billion for the four blocks.Add your comment!
ConocoPhillips is pulling out of UK exploration and production after selling its North Sea oil and gas assets to Chrysaor for US$ 2.68bn (£2bn). The sale will boost Chrysaor's production by about 72,000 barrels a day to 177,000 - making it one of the UK's biggest operators.Add your comment!
Spain’s Repsol has suspended its swaps of refined products for crude with Venezuela’s state-run oil company PDVSA, as U.S. officials weigh penalties for foreign firms doing business with Venezuela.Add your comment!
Qatar Petroleum (QP) has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. The winning bids were announced on Tuesday by Argentina’s Secretariat of Government of Energy (“SGE”) at the end of a public tender process that started in November 2018.Add your comment!
Venezuela's state-run PDVSA has shipped one million barrels of oil to Cuba days after the United States imposed fresh sanctions on vessels and firms involved in exports to the island in an effort to halt oil trade between the political allies, according to a PDVSA document and tanker tracking data.Add your comment!
Rockhopper Exploration PLC on Tuesday said its loss narrowed in 2018 as it progresses on field development in the Falkland Islands. The oil & gas exploration and production company's loss narrowed in 2018 to US$ 7.1 million from US$ 9.0 million a year before, as revenue climbed to US$ 10.6 million from US$ 10.4 million.
Brazilian state-run oil firm Petrobras is considering bidding in a new tender to explore for oil and gas offshore Israel, a leading Israeli financial news website reported on Sunday. Calcalist reported that a final decision could be announced during a four-day visit to Israel by Brazilian President Jair Bolsonaro that began on Sunday.
Brazil's Petrobras is re-evaluating a preliminary deal with China National Petroleum Corporation (CNPC) to build an oil refinery in the state of Rio de Janeiro, Brazilian economic newspaper Valor Economico reported on Thursday, citing a source from Petrobras’ management.
A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a challenge for global oil markets. The International Energy Agency (IEA) has warned that crude supplies from Venezuela are at risk of falling sharply in the midst of an electricity crisis which has paralyzed the country recently.
UK-based oil and gas firm Premier Oil with interests in the Falkland Islands has announced its full-year results for 2018, reporting a post-tax profit hike to US$ 133.4m as a result of record production. These full-year results are a ‘return to profitability’ from 2017’s full-year loss of US$ 253.8m.