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Equinor granted new wildcat permit offshore Norway

October 25, 2021
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The Norwegian Petroleum Directorate has issued a drilling permit to Equinor for wildcat well 6407/9-13 in production license PL 1060. Well 6407/9-13 will be drilled from the West Hercules drilling facility at position 64°26'22.46"N and 7°41'13.46"E. Equinor is the operator with an ownership interest of 31 per cent. The other licensees are OKEA (40 per cent), Chryasor Norge (20 per cent) and Longboat Energy Norge (9 per cent). The area in this license consists

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Wall Street predicts higher for longer era for oil prices

October 25, 2021
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Could the era of cheap oil supply be gone for good? That’s the conclusion of some of the biggest commodities desks on Wall Street, where banks have been lifting their long-term price forecasts, often by $10 or more. While the U.S. shale boom brought about a “lower-for-longer” mantra, the market is now fixated on climate change and the

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Petrobras request drilling license for Foz do Amazon Basin

October 25, 2021
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Petrobrás announced that it has asked the Environmental Licensing Board of the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) for an operating license for the offshore drilling activity in blocks FZA-M-57, FZA- M-86, FZA-M-88, FZA-M-125 and FZA-M-127, in the Foz do Amazonas Basin. Also according to the oil company, the Environmental Impact Study and the

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Exxon looking to capture carbon in Southeast Asia

October 25, 2021
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Exxon Mobil Corp wants to build carbon capture storage (CCS) hubs in Southeast Asia, similar to its project in Houston, Texas, and has started talks with some countries with potential storage options for carbon dioxide, the company’s head of low carbon solutions said. Last month, the U.S. energy major said 11 companies have agreed to begin discussing plans

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Petrobras talks going private

October 25, 2021
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Brazilian President Jair Bolsonaro reiterated on Monday that he is considering the privatization of state-run oil company Petrobras, boosting its shares along with news of a fresh price hike in the domestic gasoline and diesel market. "This is on our radar," the far-right president said during a radio interview. "But privatizing a company is not just putting it

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African licensing rounds to take center stage at USAEF 2021

October 22, 2021
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As oil prices continue to rebound to near seven-year highs, upstream exploration has returned to the forefront of the oil and gas industry’s recovery agenda. While the pandemic brought a temporary halt to drilling and other non-essential activities, sub-Saharan Africa continues to hold resource-rich basins with billions of untapped proven oil and gas reserves; and exploration “hotspots”

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Lundin comes up dry on wildcat close to Johan Sverdrup field

October 22, 2021
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Lundin Energy Norway, operator of production licence PL 976, is in the process of concluding the drilling of wildcat well 17/8-1. The well was drilled about 70 kms southeast of the Johan Sverdrup field in the North Sea and 140 kms southwest of Stavanger. The well's primary exploration target was to prove petroleum in sandstone in the Sandnes Formation from the Middle Jurassic.

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Petrobras disclose sale opportunity for Catua Field in Campos Basin

October 22, 2021
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Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake (100%) in the Catuá Field, belonging to the BC-60 Exploratory Block, located in the Campos Basin, in the state of Espírito Santo. The teaser, which includes key information about the opportunity, as well as the eligibility criteria for the selection

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Island Drilling awarded contract for the Innovator

October 22, 2021
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Dana Petroleum has awarded Island Drilling Company AS a contract to drill one well with the rig Island Innovator from April 2022. Island Innovator is a 6th generation Harsh Environment rig from 2012. In addition, the rig has three options for other potential work. Charlie Taylor, Wells Manager, Dana Petroleum said: “The Island Innovator is a modern sixth

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Cushing storage approaching critical low level

October 22, 2021
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Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel. The storage tanks in Cushing, Oklahoma, require a minimum level of oil to maintain normal operations, which traders generally believe is around 20 million barrels. Unusually for this time of year, stockpiles declined

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