Energy

ExxonMobil acquires exploration acreage in three Mauritania Offshore Blocks
Energy

ExxonMobil acquires exploration acreage in three Mauritania Offshore Blocks

ExxonMobil Exploration and Production Mauritania Deepwater Ltd., has signed production sharing contracts with the government of the country for three deepwater offshore blocks. “These blocks further enhance ExxonMobil’s leading global deepwater acreage position,” said Steve Greenlee, president of ExxonMobil Exploration Company. “We thank the government of Mauritania for the opportunity […]

Brazilian court halts judgement execution against Chevron
Energy

Brazilian court halts judgement execution against Chevron

Brazil’s Superior Court of Justice (STJ) unanimously rejected an attempt to enforce a fraudulent Ecuadorian judgment against Chevron Corporation on Wednesday, November 29, citing a lack of jurisdiction. Chevron said in a statement that the fraudulent judgment has now been rejected in Argentina, Brazil and the United States. “Courts around […]

BP, Copersucar to form joint venture in Brazil
Energy

BP, Copersucar to form joint venture in Brazil

BP Biofuels and Copersucar have announced that they have agreed to form a joint venture to own and operate a major ethanol storage terminal in Brazil, better and flexibly connecting ethanol production with the country’s main fuels markets. Copersucar is a sugar and ethanol trader, with the largest sugar and […]

Statoil gets exploration license onshore Argentina
Energy

Statoil gets exploration license onshore Argentina

As part of the Argentina’s Gas y Petróleo del Neuquén’s (GyP) 5th bidding round, Statoil has been awarded the Bajo del Toro Este exploration license as operator in the Neuquén basin. Statoil will operate the license with a 90 % working interest, with Gas y Petróleo del Neuquén (GyP) retaining […]

Exxon starts production at Hebron field project
Energy

Exxon starts production at Hebron field project

Exxon Mobil Corporation has announced that the Hebron project started production safely and ahead of schedule. At its peak, the project will produce up to 150,000 barrels of oil per day. Discovered in 1980, the Hebron field is estimated to contain more than 700 million barrels of recoverable resources. The […]

Petrobras, Shell, Total begin production in Libra
Energy

Petrobras, Shell, Total begin production in Libra

Petrobras and its partners said they started oil production in Libra block, in the Pre-salt of Santos Basin, with the beginning of operation of Pioneiro de Libra FPSO (Floating Production Storage and Offloading unit), dedicated to Extended Well Tests and Early Production Systems. This is the first Petrobras unit equipped […]

Shell, Total to benefit from Asian demand for LNG
Energy

Shell, Total to benefit from Asian demand for LNG

Barclays reiterated its ‘overweight’ stance and 2,850p target price on shares of Royal Dutch Shell, pointing to the solid outlook for Asian demand of liquified natural gas that the broker said should support long-run prices and provide better trade opportunities. Over the next two years, new project start-ups in the […]