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In the third quarter of 2024, Petrobras recorded an average FUT of 95.2%. This period also saw a significant increase in the processing of pre-salt oil, which made up 73% of the total load in the distillation units. View the full article
Brazil’s state-controlled oil company is nearing a deal with government regulators allowing it to move forward with plans to redevelop a massive deep-water field that could reinvigorate the nation’s stalled output. View the full article
Brazil’s state-controlled oil company is nearing a deal with government regulators allowing it to move forward with plans to redevelop a massive deepwater field that could reinvigorate the nation’s stalled output. View the full article
(Bloomberg) – Petrobras plans to boost spending on new oil drilling and other projects by almost 9% to $111 billion in the next five-year plan. Petrobras' eight-person executive office proposed that amount for the 2025-2029 period, according to a filing Monday. View the full article
New momentum in Vaca Muerta means Argentina could export gas to Brazil as soon as next year. But instead of just importing the fuel, Petrobras would like to be involved on the production end, people familiar with the matter said. View the full article
Petrobras achieved the main target of the Uchuva-2 well, confirming the extent of the natural gas discovery made in 2022 while drilling of the Uchuva-1 well. This well adds relevant information for the development of a new frontier of exploration and production in Colombia, reinforcing the volumetric potential for natural gas in the region. View the full article
Over 12 competitors, including Exxon and Shell, have shown interest in acquiring a 40% stake in Galp Energia's massive offshore oil and gas field. A spokesperson from the company emphasized Petrobras' expertise in deepwater operations and expressed confidence in their bid. View the full article
The discussions are over blocks in nations including Namibia, South Africa and Angola, Petroleo Brasileiro SA’s head of exploration and production, Sylvia dos Anjos, said in an interview. Petrobras is studying a total of 10 opportunities to partner with oil majors in Africa as the Latin American company tries to capitalize off its expertise in developing deep-water wells, Anjos said. View the full article
As part of the second development of the Atapu and Sepia offshore fields, SLB OneSubsea will provide the Petrobras-standard configured, pre-salt vertical trees, subsea distribution units, subsea control systems and pipeline systems, along with related installation, commissioning and life-of-field services. View the full article
The four new contracts encompass four heavy-size helicopters Sikorsky S-92A to support Petrobras in the pre-salt Santos basin. CHC will provide crew change flights to over 60 offshore units operated by Petrobras and its partners from Jacarepaguá and Maricá airports, located at Rio de Janeiro estate, Brazil. View the full article
Petrobras is pushing to extract as much oil as possible from its existing fields in Brazil while simultaneously hunting for new reserves to prevent production from starting to decline in the 2030s. View the full article
Petrobras has confirmed a significant gas discovery in Colombia's Guajira offshore basin, estimating the potential reserves at around 6 trillion cubic feet. View the full article
Petrobras has confirmed a significant gas discovery in Colombia's Guajira offshore basin, estimating the potential reserves at around 6 Tcf. View the full article
Petrobras’s board of directors appointed Magda Chambriard as the state-controlled oil giant’s next chief executive officer, who enters the job with a clear mandate to ramp up investments in sectors including refining. View the full article
ATP will pay 100% of the work program, which initially consists of drilling and completing the AND-4 and AND-5 wells in the Andorinha field and a workover in the CR-2 well located in the POT-T-281 block. View the full article
Petro-Victory Energy Corp. secured 19 new oil and gas blocks in the company's core operating area, the Potiguar Basin onshore Brazil, the company announced. View the full article
The smallest oil producer in the Persian Gulf is turning to natural gas imports to meet rising energy demand as production from its own deposits slips. View the full article
Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices. View the full article
Drillers have extended the horizontal length of their wells since the pandemic to three miles or more to squeeze more output from their sites. The longer so-called laterals are often credited with helping explorers deliver surprise production growth of 1 MMbpd last year. View the full article
Oil output in the Permian Basin is projected to hit a record as the largest U.S. shale patch leads the recovery in domestic production from its Covid-19 induced slump. View the full article
The deal is part of Occidental’s previously announced plan to divest assets to help fund its acquisition of closely held CrownRock LP. View the full article
(WO) — Matador Resources Co. plans to produce more oil in 2024 than previously planned, a signal that wells in the western part of the Permian basin — the busiest U.S. oil field — continue to lead national oil growth. View the full article
Centennial Resource Development Inc., a shale oil producer in the Permian Basin, agreed to acquire private equity-backed rival Colgate Energy in a cash-and-stock deal valued at about $2.5 billion. View the full article
Even with crude above $100 a barrel, producers in the Permian and other U.S. shale basins are riding the brakes. View the full article
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
