World Oil (WO) – Petrobras achieved the main target of the Uchuva-2 well, confirming the extent of the natural gas discovery made in 2022 while drilling of the Uchuva-1 well. This well adds relevant information for the development of a new frontier of exploration and production in Colombia, reinforcing the volumetric potential for natural gas in the region. Uchuva-2 well,
Oil Price Ever since Hamas launched multiple coordinated attacks against Israel on 7 October last year, the Middle East has been on the verge of spiraling into an out-of-control regional and perhaps global conflict. Perhaps no time has looked potentially more perilous for the region and for those countries connected to it through politics, economics, or energy prices than right
World Oil (Bloomberg) – Colombia’s state oil company, Ecopetrol SA, has decided against buying a $3.6 billion stake in Permian Basin assets from Occidental Petroleum Corp. The company told Occidental Wednesday that it had opted not to acquire the 30% stake in the assets it has agreed to buy from CrownRock LP, according to a filing Thursday. The stock of
BOE Report Oil futures extended losses in a volatile session on Monday as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle East, the world’s largest oil producing region. Share markets also tumbled across Asia as U.S. recession worries sent investors rushing from risk assets while wagering that
