Guyana's Oil Exports Double, with Europe Taking Half of Cargoes
Guyana's oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer's light sweet crudes, particularly in Europe, where thirsty refiners ramped up…
Petrobras Post Strong Results as Crude Rises, Gas Strengthen
Brazil's Petrobras beat second quarter profit estimates on Wednesday, as higher Brent prices, strong natural gas sales and relatively controlled expenses boosted the company's bottom line.In an evening securities filing…
Brazil: Petrobras receives $45M in Vitol Corruption Settlement
Brazilian state-run oil company Petrobras said that it had received 232.6 million reais ($44.65 million) on Tuesday in a settlement with Swiss energy trading firm Vitol, which was implicated in a sprawling…
Coronavirus Outbreaks Hit Petrobras' Quarterly Output
Coronavirus outbreaks at a number of platforms operated by Brazil's Petrobras hit production in the second quarter, the company said on Tuesday, though the firm indicated output may improve in certain regions.In a securities filing…
OPEC+ Meets to Decide on Oil Output Cuts Easing
OPEC and allies such as Russia meet on Wednesday to decide oil output policy from August amid broad market expectations the group will ease supply curbs as the global economy slowly recovers from the coronavirus…
OPEC Production in June Cut by 1.25 mbpd
OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint agreement with Russia and other allies, according to estimates from tanker…
Guyana Received $4.9M in Oil Royalties in 1Q
Guyana received $4.9 million in royalty payments for oil production at the offshore Stabroek block in the first quarter, the finance ministry said on Monday, a period that included the South American country's…
Rockhopper Reducing Headcount, Directors' Salaries
Oil and gas company Rockhopper, with a share in the Sea Lion project off the Falkland Islands, has announced a set of cost-cutting measures which include headcount reductions, and directors' salary reduction.The…
Petronas Farms Out Part of Suriname Offshore Block to Exxon
Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary of ExxonMobil.The offshore block, known as Block 52, is located north of the coast of Paramaribo…
Petrobras Sees No Need to Cut Oil Production
Brazil's state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing…
30+ Companies Compete for Guyana Crude Trading Deal
More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest for a contract to market…
Oil Traders Vie for Guyana Marketing Deal Despite Price Tumble
Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government's share of the country's crude, despite a plunge in global prices, four…
New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics…
Brazil Breaks Oil Output Record in January
Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday.
Tullow to Axe a Third of Its Workforce
Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source with direct knowledge of the matter said, after weak output in Ghana, delays in…
PetroRio to Acquire OSX-3 FPSO for $140M
Brazilian oil company PetroRio has agreed to buy the OSX-3 FPSO for $140 million, and acquire an 80 percent stake in the Dommo Energia's Tubarao Martelo field off Brazil where the FPSO is currently deployed.
US Extends License for Chevron's Operations in Venezuela
The U.S. Treasury Department on Saturday renewed a license allowing Chevron, the last U.S. energy company operating in Venezuela, to continue working in the country until April 22.In January, the United…
Exxon to Load First Crude from Guyana This Weekend
The first-ever cargo of Guyana's crude for export is scheduled to begin loading this weekend so the oil can be processed at Exxon Mobil's refining system, the company told Reuters on Friday.Exxon has so…
Apache Makes Major Discovery Offshore Suriname
Apache Corp and Total SA said on Tuesday they had made a major oil discovery in a closely watched area off the coast of South America's Suriname, sending Apache's shares surging nearly 27%.The discovery…
Saipem Tallies $1.7 Bln Drilling Contracts
Italian oilfield services firm Saipem announced Friday it has secured approximately $1.7 billion in new and extended drilling contracts for its offshore and onshore divisions.The offshore drilling contracts…
