The Trump administration will not make a broad cut to the royalty rate oil and gas companies must pay on their offshore drilling operations despite a historic oil price collapse that has put the industry in crisis, a Gulf Coast lawmaker briefed on the matter told Reuters on Wednesday…
Royal Dutch Shell has postponed decisions on whether to go ahead with two large oil and gas developments in the Gulf of Mexico and North Sea after oil prices collapsed due to the coronavirus crisis, a company source said on Wednesday.The Anglo…
Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government's share of the country's crude, despite a plunge in global prices, four people familiar with the matter said.Oil…
Brazilian oil company Petrobras has started the binding phase for the sale of its share in the Papa-Terra field located in the deepwater area in the Campos Basin, offshore Brazil.The binding phase starts following a teaser for the sale Petrobras had announced back in February…
Brazilian state-run oil firm Petrobras plans to restart operations in the coming days at two ships used in offshore oil production that suffered coronavirus outbreaks, an executive told journalists during a call on Friday.Petrobras Exploration…
Egypt-based oil and gas company Burullus has sent an early termination notice for a drillship contract to offshore drilling contractor Transocean.In its fleet status report issued Thursday, Transocean said it had received the early termination…
Royal Dutch Shell Plc resumed production at its 100,000-barrel-per-day Perdido deepwater hub in the U.S. Gulf of Mexico on Tuesday, ending a days-long halt caused by an onshore pipeline leak.Perdido production would return to its usual capacity by late Wednesday…
A leak in a pipeline that carries oil from U.S. Gulf of Mexico offshore facilities has halted production at two fields, Exxon Mobil Corp and Royal Dutch Shell said on Monday.Shell said it temporarily halted production on its 100,000-barrel-per…
Offshore drilling contractor Noble Corporation has backtracked on its 2020 guidance announced in February, citing the recent sharp decline of oil price due to the oil oversupply and drop in demand caused by COVID-19, as the reason.Noble Corp…
Brazil's state-run oil company Petroleo Brasileiro SA said in a letter to the workers union on Thursday that it will idle six oil and gas platforms in five fields of the Campos basin due to the coronavirus epidemic.The company said the idling…
Offshore drillings contractors leasing drilling rigs to oil and gas companies are set to lose contracts worth $3 billion in combined revenue in 2020 and 2021, Rystad Energy said Thursday, citing the impact of the coronavirus pandemic and low oil prices…
The U.S. Interior Department said on Wednesday that one oil company had begun the process of requesting relief from royalty payments on its offshore production as the industry reels from slumping prices.Lawmakers representing U.S. Gulf Coast…
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the blended impact of COVID-19 on oil and gas activities and the oil price war, Rystad Energy said Tuesday.These wells, the Norwegian energy intelligence firm said…
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash.Payara's…
-Brazilian oil company Petrobras has found presence of oil at the Natator exploration well in the Campos Basin, offshore Brazil.Petrobras said Thursday that the well, in the Sudoeste de Tartaruga Verde block, was located 130 km from the city of Macaé (RJ)…
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