Washington aims to prioritize issuing licenses to companies with existing oil output and assets over those seeking to enter the sanctioned OPEC nation for the first time, sources told Reuters.
3R Petroleum Óleo e Gás SA and Enauta Participações SA will combine into a new entity with production that exceeds 100,000 boe/d and compete head-to-head with Brazilian producer Prio, according to Wood Mackenzie.
Here’s a roundup of the latest E&P headlines, including development of the Belinda Field in the North Sea to new contract awards and service company acquisitions.
A recent find offshore Suriname in Block 52 by Petronas and Exxon Mobil could support a 100,000 bbl/d FPSO development, according to Wood Mackenzie.
Apache CEO John Christmann detailed plans for the Permian Basin and Suriname during the SUPER DUG Conference & Expo.
The U.S. is preparing to prioritize issuing limited licenses to operate in Venezuela to companies with existing oil production and assets over those seeking to enter the sanctioned OPEC nation for the first time.
Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.
ConocoPhillips has a long-term ambition to boost its LNG offtake capacity to between 10 mtpa to 15 mtpa as it keeps a short-term eye on the auction of Citgo Petroleum.
While Brazil and Guyana aren’t necessarily competing to see which country can produce more oil, Petrobras’ CEO Jean Paul Prates jokingly said Brazil was winning, while adding that Bolivia’s falling production was an opportunity for Argentina.
Here’s a roundup of the latest E&P headlines, with a couple fields coming online, as well as new contract awards.