Exploration & Production

Brazil’s state-owned oil company Petroleo Brasileiro said it was spending $320 million on put options hedging part of its output at $60 per barrel considering Brent prices, in a move to lock in some of this year’s price gains."The strategy is to hedge the export operations expected for the year...






US energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output.Drillers cut nine oil rigs in...






Asia’s top refiner China Petroleum & Chemical Corp (Sinopec) boosted spending on exploration and production by 41 per cent last year as crude oil reserves tumbled at its biggest oilfield.Sinopec’s upstream capital expenditure rose to 59.6 billion yuan ($8.9 billion), its highest since 2014, as...






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