Up to 50 Firms Seek US Oil Licenses in Venezuela, Official Says

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.

May 23, 2024

3R, Enauta Merge to Create Large Brazilian Independent

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.

May 21, 2024

E&P Highlights: May 20, 2024

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. 

May 20, 2024

Third Suriname Find for Petronas, Exxon Could Support 100,000 bbl/d FPSO

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.

May 17, 2024

Permian Powerhouse: Apache Doubles Down on Core Assets After Callon Acquisition

Apache CEO John Christmann detailed plans for the Permian Basin and Suriname during the SUPER DUG Conference & Expo.

May 16, 2024

US to Favor Existing Investors for Venezuela Oil Licenses, Say Sources

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. 

May 16, 2024

Petrobras CEO Prates to Step Down

Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.

May 15, 2024

ConocoPhillips Looks to Scale Portfolio, But Citgo Auction Not a Factor

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.

May 15, 2024

Petrobras Not in a Race with Guyana to Boost Production, CEO Says

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.

May 14, 2024

E&P Highlights: May 13, 2024

Here’s a roundup of the latest E&P headlines, with a couple fields coming online, as well as new contract awards.

May 13, 2024