Guyana’s second crude oil shipment left ExxonMobil’s Liza Destiny platform Wednesday and is heading to Panama, Kallanish Energy reports. The new crude oil cargo lifted by the U.S. supermajor and its partners offshore Guyana is said to have been sold on the open market. According to shipping data from Marine Traffic, the Eagle … Read more
Brazilian state-run oil company Petrobras is seeking to accelerate its exit from the biofuels segment and has started the process to sell a large stake in BSBios Biodiesel, Kallanish Energy reports. The sale of the 50% stake in the biofuels company will be made in conjunction with partner RP Biofuels, which owns the … Read more
Russian giant oil producer Rosneft said it’s ready to talk to U.S. authorities regarding its business in and with Venezuela’s state oil company, PDVSA, following threats of sanctions, Kallanish Energy reports. The company said in a statement earlier this week any attempt to restrict Rosneft or its subsidiaries in activities permitted by law, in … Read more
Brazilian regulator National Agency of Petroleum, Natural Gas and Biofuels (Anp) said last week it expects revenue of $425 billion from the 16th Exploratory Blocks Bidding Round. The authority also expects $112 billion in investments, Kallanish Energy reports. The bidding round is scheduled for Oct. 10, offering 36 blocks in five offshore sedimentary … Read more
Plans for a Brazilian petrochemical company building an ethane cracker in northern West Virginia are dead, but state officials are still hoping another developer will build such a complex on the site, Kallanish Energy reports. That news came out last week in a series of statements and news reports. Brazil’s Braskem is … Read more
Plans for a Brazilian petrochemical company building an ethane cracker in northern West Virginia are dead, but state officials are still hoping another developer will build such a complex on the site, Kallanish Energy reports. That news came out last week in a series of statements and news reports. Brazil’s Braskem is … Read more
Power failures that kept Venezuela in darkness for much of March also briefly slashed the country’s crude production by 50%, people familiar with the situation told Bloomberg. Rolling blackouts across much of the country that started on March 7 temporarily paralyzed most of the country’s oil industry, Kallanish Energy finds. Oil output … Read more
Argentina’s government has decided to change the country’s subsidy program for unconventional gas development leaving projects in limbo, Kallanish Energy learns from local producers YPF and Pampa Energia. The program, aimed at stimulating investments in the development and production of shale gas, offered companies a subsidy since 2013. Specifically, companies were offered a … Read more
U.S.-based, Venezuela-owned refiner Citgo Petroleum is set to undergo a restructuring in its leadership following Juan Guaido’s declaration he is Venezuela’s new interim president. Guiado is expected to make an announcement “soon” on plans to revamp Citgo’s board and ease political pressures on the company, Platts reported last week, citing unnamed sources. … Read more
Hess Corp. has announced it plans to spend $2.9 billion in its 2019 capital and exploratory budget, with 75% of that money earmarked for high-return growth assets in the Bakken Shale and and Guyana, Kallanish Energy reports. The company on Monday said its net production is predicted to be between 270,000 and 280,000 barrels of … Read more
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