Majors Press Mexico to Resume Oil Auctions
Big oil companies operating in Mexico have launched a drive to convince leftist President Andres Manuel Lopez Obrador to resume auctions of oil and gas contracts he has branded a failure in reviving the industry.Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell Plc…
Petrobras to be World's Largest Oil Producer
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts.Brazil’s biggest-ever oil auctions in November were generally deemed to be disappointing, receiving…
Shell Eyes Brazil Exploration Areas
The head of Royal Dutch Shell Plc in Brazil said on Friday that it currently made more sense for the company to look for exploration areas.Speaking after Brazil's disappointing oil auctions this week, which Shell chose to sit out, Andre Araujo said the Buzios block…
Brazil Council Approves Sixth Round Pre-salt Auction
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 and Brava Norte in addition to the previously considered three of Aram…
Pemex Crude Oil Output, Exports Fall
Mexican national oil company Pemex's crude output dipped to 1.76 million barrels per day (bpd) in October, down more than 7 percent compared with the same month last year, according to company data released on Monday.October crude output marked one of the lowest monthly production levels since 1990…
Incoming Petrobras CEO: No Decision Yet on Future Pre-salt Auctions
No decision has yet been taken on the types of contract to be offered in Brazil's pre-salt deep water oil auctions, the incoming head of Petroleo Brasileiro SA said on Thursday, adding that fuel price policy is still being discussed.(Reporting by Mateus Maia Editing by Marguerita Choy)
Guyana Puts Oil Auctions on Hold
Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Monday.Since 1999, Guyana has awarded a group led by Exxon Mobil…
Big Oil Readies Brazil Offshore Bets
Exxon Mobil Corp , Royal Dutch Shell Plc and other companies will gather on Friday in possibly their last crack at Brazil's coveted offshore oil for another four years, as a wide-open election spurs fears about barriers to foreign investment.The auction in Rio…
Brazil Calls Oil Auction, Seeks to Export Oil in a Year
Brazil's government will seek to sell 14.4 million barrels of oil cargo this month, while the state company managing the development of the pre-salt oil exploration aims to export its own oil in a year's time, the firm's head said on Thursday.The tender of oil cargo, at an auction set for Aug.
Brazil Expects $1.1 Bln from Two Oil Auctions this Year
Brazilian oil regulator ANP expects to raise 3.5 billion reais ($1.1 billion) in signing bonuses in two oil auctions planned for this year. Decio Oddone, head of ANP, said on Monday the regulator estimates receiving 3.5 billion reais, below the 4.65 billion reais…
Mexico Expects to Hold a Third O&G Auction in 2018
Mexico's oil regulator will likely add another oil auction in 2018 featuring conventional onshore oil and gas blocks, a senior official said on Thursday, potentially teeing up a third tender in an election year. The bid terms will be announced this year or in early 2018 while contracts will likely be awarded by the summer…
Petrobras Oil Auction Strategy Drawn Up
Petróelo Brasileiro SA has drawn up a strategy to participate in Brazil's three upcoming oil auctions this year, as a declining debt burden has increased the state-controlled oil producer's firepower, Chief Executive Officer Pedro Parente said on Wednesday. Reporting by Pedro Fonseca and Rodrigo Viga Gaier
Mexico Sets Next Deep-water Oil, Gas Tenders
Mexico's oil regulator, the National Hydrocarbons Commission, set Jan. 31 as the date for the next round of auctions for deep-water oil and gas tenders in the Gulf of Mexico. The so-called 2.4 auctions will offer 30 areas, of which 10 are in the Cordilleras Mexicanas deepwater basin…
Mexico Expects Four More Oil Auctions by Year's End
Mexico expects to launch four more oil and gas auctions before the current president's term concludes at the end of November 2018, Energy Minister Pedro Joaquin Coldwell said at a conference on Thursday. The government has previously said three more tenders were planned…
Mexico Awaits Next Oil Round with Cautious Optimism
Mexico is looking forward to its next round of offshore oil auctions on Monday with guarded optimism thanks to robust interest from oil majors for the shallow-water tenders. On Monday, Mexico auctions 15 oil and gas blocks along the southern coastal waters of the…
Petrobras to Use 'Priority Rights' in Brazil Oil Auctions
Brazil's state-controlled oil company Petróleo Brasileiro SA will exercise its preferential rights in two offshore pre-salt oil auctions scheduled for this year, the company said in a statement on Thursday. Petrobras, as the company is known, said it will exercise…
Petrobras to Exercise Preferential Rights in Brazil Oil Auctions
State-controlled oil company Petroleo Brasileiro SA will exercise its preferential rights in two offshore oil auctions scheduled for October, Mining and Energy Minister Fernando Coelho Filho said at an event on Tuesday. The minister did not say where the company…
Pemex March Crude Oil Exports Hit Record Low
Mexican national oil company Pemex said on Friday that March crude exports fell to a record low of just above 1 million barrels per day (bpd), while oil output for the month also dipped. Pemex's March crude shipments averaged 1.001 million bpd, the lowest level…
Pemex Posts First Quarterly Profit in Five Years
Mexican national oil company Pemex on Wednesday reported a first quarter net profit of 87.9 billion pesos ($4.7 billion), the firm's first quarterly profit since 2012, on higher sales as crude prices rose despite lower output. During the year earlier period, Pemex posted a loss of 62 billion pesos.
Pemex Sharply Reduces Losses as Oil Prices Rise
Mexican state-owned oil company Pemex on Monday reported a much smaller fourth-quarter loss, due in large part to higher crude prices. The loss narrowed to $1.58 billion (32.6 billion pesos) from $9.8 billion a year earlier. "Pemex's finances are today stable with positive trends…
