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Petrobras speculates on Guyana entry

December 3, 2020
| Archives

Brazil’s Petrobras could expand its operations into neighboring Guyana, if the regulatory environment does not improve in Brazil, CEO Roberto Castello Branco said on Thursday, the first official admission of interest in the hot frontier oil play. Petroleo Brasileiro SA, as the company is formally known, has exploration interests off Brazil’s northern coast. There is speculation among geologists

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OPEC+ says 500k barrel a day increase in January

December 3, 2020
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OPEC+ agreed to ease its oil-output cuts next year more gradually than previously planned, giving a fragile market more time to absorb the extra supply. A gradual tapering falls short of what had been widely expected before this week: a full three-month delay to the scheduled January output increase. Yet the compromise deal also avoids a breakdown

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Newfoundland commits funds to support West White Rose project

December 3, 2020
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Husky Energy will receive $41.5 million in federal money to maintain jobs and move toward restarting its West White Rose offshore oil project in Newfoundland and Labrador, although officials admit a restart is not certain. Newfoundland and Labrador Premier Andrew Furey made the funding announcement Thursday at Husky's offices in downtown St. John's. Furey said the investment ensures

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Rig Lynx is 3 Years Old

December 2, 2020
| Archives

In August of 2017 I picked up the mobile phone, opened up LinkedIn and started scrolling through the newsfeed. We were still in the middle of one the worst downturns we had been through in my 26 years, of course this was pre-covid, little did we know. As I scrolled through the newsfeed, I saw multiple job posts

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Tellurian withdraws U.S. application to build Permian natgas pipeline

December 2, 2020
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U.S. liquefied natural gas (LNG) developer Tellurian Inc told federal energy regulators on Tuesday it wants to withdraw its application to build the Permian Global Access natural gas pipeline in Texas and Louisiana. The filing with the U.S. Federal Energy Regulatory Commission (FERC) comes a day after Tellurian said its President and Chief Executive Meg Gentle will leave

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Sempra to buy remaining stake in Mexican unit in $6.13 billion deal

December 2, 2020
| Archives

Sempra Energy said on Wednesday it would buy the remaining stake in a Mexican unit in a deal valued at $6.13 billion as it eyes new investments in renewables and energy storage amid growing global demand for cleaner fuels. The company currently owns 66.43% of Infraestructura Energética Nova SAB de CV (IEnova), according to Refinitiv Eikon data, and

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Petrobras gains favorable partial decision in arbitration

December 2, 2020
| Archives

Petrobras informs that it received, a favorable partial decision in one of the arbitrations proceeding before the Market Arbitration Chamber (CAM) of B3, initiated by foreign investors who claim financial losses caused by the facts revealed at Lava Jato. This decision promoted the definitive exclusion of seventeen investors who did not prove their status as shareholders and, therefore,

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Conoco to possibly layoff 500 of Houston HQ staff as Concho buy closes

December 2, 2020
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ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc. Affected employees will be notified as early as Feb. 1 and will receive 60-days advance notice, severance pay and help finding new jobs, Conoco said in an email on

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Angola and the DRC Create Committee for Joint Oil Exploration

December 2, 2020
| Archives

H.E. Diamantino Pedro Azevedo, Angolan Minister of Mineral Resources, Petroleum and Gas, has announced the creation of a joint technical committee between Angola and the Democratic Republic of the Congo (DRC), pertaining to a joint oil exploration zone. According to the Minister’s Cabinet, the initiative originated during the Minister’s meeting with his Congolese counterpart, regarding the exploration area

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