Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

COLOMBIA -- Brazil’s state Petrobras is to invest $90 million in the Guando field and four adjacent blocks, with its partners -- Nexen, Cipetrol, CMS Energy, and state Ecopetrol -- stumping up a further $80 million. Though touted as the best oil find of the last five years, Guando is producing only 1,700 b/d. Guando-1, Guando-2, and Guando-6 contain less oil than expected, while Guando-4 was a dry hole. Fields 3, 5, and 7 are still being explored. The Petrobras investment is part of the company's four-year plan to invest $5.2 billion overseas.

Oil Supply
Wanda Ad #2 (article footer)
Mounting risks threaten a predicted loosening of LNG markets by 2026, as the industry copes with cost inflation, labor shortages, construction delays and other challenges.
Thu, Sep 28, 2023
Bulgaria's parliament has voted to phase out imports of Russian crude oil by October of next year.
Fri, Sep 29, 2023
The EIA's latest Petroleum Supply Monthly shows that US crude output averaged just shy of 13 million b/d in the seventh month of the year.
Fri, Sep 29, 2023