Regional Archives - Panorama Insurance Brokers

Aggressive oil exploration needed in Colombia – GlobalData

Colombia needs to pursue a much more aggressive oil exploration strategy in order to avoid highly contested fracking activities or an increase in gas prices as a result of importing, according to GlobalData. The leading data and analytics company notes that the country has seen no large discoveries in the last five years, and its… Read More

Shares in Brazil’s Petrobras jump almost 10%

(Reuters) – Preferred shares in Brazil’s Petrobras jumped almost 10% on Thursday, after the state-controlled oil company smashed second-quarter margin estimates and announced 31.6 billion reais ($6.15 billion) in extraordinary dividend payments. Petroleo Brasileiro SA, as the company is formally known, had for a number of years suspended all dividends, as it focused on whittling… Read More

Builder of Guyana FPSOs secures 22.5 year contract for Brazil floater

SBM Offshore said Tuesday it has signed a Letter of Intent with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease and operate contract for FPSO Alexandre de Gusmão. The unit will be deployed at the Mero field in the Santos Basin offshore Brazil, approximately 160 kilometers from Arraial do Cabo, Rio de Janeiro state, in… Read More

Petrobras to supply free cooking gas to low-income Brazilians

(Reuters) – Brazilian President Jair Bolsonaro said on Friday evening that state-controlled company Petroleo Brasileiro SA, known as Petrobras, has 3 billion reais ($575.5 million) to fund free LPG bottles to low-income people that cannot afford them. Liquified petroleum gas (LPG) bottles are used for cooking mainly by low-income Brazilians, and the government has been… Read More

More oil for Suriname: TotalEnergies and Apache announce new discovery

TotalEnergies and Apache Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi. Located 4 kilometers south-east of the Sapakara West-1 discovery, Sapakara South-1 was drilled in a water depth of about 850 meters. Sapakara… Read More

Shell’s Barracuda Project delivers first gas in T&T

Shell Trinidad and Tobago says production has started on Block 5C in the East Coast Marine Area (ECMA) in the twin island republic. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic LNG, the oil major said. First gas at Barracuda was reached on July 18, 2021, and… Read More

New awards boost Suriname’s potential as major oil producing country, says Rystad Energy

The results of Suriname’s keenly watched shallow-water licensing round where three of the eight offered blocks were awarded to international big-name companies will soon lead to a flurry of activity off the country’s coast. One block was awarded to Chevron and two to a consortium of TotalEnergies and Qatar Petroleum (QP). The latter two blocks… Read More

Pemex struggling to meet own goals as private companies hit production record

(S&P Global Platts)  Crude production by private operators in Mexico reached a new record in June as state oil company Pemex struggles to stop the decline of its own output, official data shows. Independent exploration and production companies increased their crude oil output to little under 70,000 b/d in June, the largest reading to date,… Read More

Winners of Suriname bid round to submit exploration work programme – Jagesar

The companies that were successful in the recently concluded Suriname bid round are now to submit their exploration work programme the head of state oil company, Staatsolie Maatschappij Suriname N.V. told OilNOW. Chevron Exploration Suriname Limited and a consortium consisting of TotalEnergies and Qatar Petroleum had submitted the most favourable bids for shallow offshore blocks. Chevron… Read More