Petrobras plans to invest $102 billion between 2024-2028 under its new strategic plan, up 31% compared to their 2023-2027 plan, aiming to achieve production of 3.2 MMboe/d by the end of the five-year timeframe.
In 2024, energy investors interested in Latin America will likely find the most attractive opportunities linked to developments in Argentina, Brazil, Guyana, Mexico and Venezuela. That’s if they can hold their nerves amid ongoing uncertainties mainly tied to politics in many of the countries.
Datanalisis President Luis Vicente León spoke with Hart Energy about the realities of U.S. sanctions on Venezuela to force free elections and the results: President Nicolás Maduro’s chief political rival is barred from holding office.
Shipments of Canadian crude from the U.S. Gulf Coast since May have more than doubled all of 2018's exports as Asian refiners scramble for heavy sour oil, according to vessel-tracking data, traders and industry sources.
While the deal is set to establish Delek’s Ithaca subsidiary as the second largest independent oil and gas producer in the U.K. North Sea, it also marks the second major to pull out of the region.
Devon Energy agreed to sell its Canadian business to Canadian Natural Resources, knocking out a target in the Oklahoma City-based independent energy company’s planned transformation.
Canada will exempt some oil sands projects from federal environmental assessments as long as Alberta maintains a cap on oil sands emissions, draft regulations from the federal government said on May 1.
Equinor and partners are investing more than $7 billion in the development east of the Shetland Islands in the U.K. North Sea.
U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.
The government said the increase in production limits comes as warmer weather reduces the amount of diluent needed to help oil sands bitumen flow through pipelines, increasing capacity.