This is the second well in Potiguar where the firm has found hydrocarbons. Both finds are still subject to further studies, Petrobras said

The number of fracking stages – a technical measure of activity in unconventional reservoirs – reached 1,643 in the third month of this year in Vaca Muerta, according to a report from the Energy Contacts Foundation

The board of directors of the oil company YPF approved a plan to optimize its portfolio of conventional fields, which will lead it to focus its investments on more profitable conventional and unconventional areas, the company said in a statement

According to the company, the new investments will be allocated to its operations in Vaca Muerta, with the goal of connecting 46 new wells and reaching a production of 70,000 barrels of oil equivalent per day by 2024

JPMorgan, one of the leading global financial services companies, has adjusted its outlook for the oil market, projecting that oil prices will average $83 per barrel in 2024

Norway awarded stakes in 62 offshore oil and gas exploration licences to 24 energy companies, including state-controlled Equinor, opens new tab, boosting the amount of acreage offered as the country seeks to pump for decades to come

The Secretary-General of OPEC, Haitham al-Ghais, said during a panel discussion at the COP28 climate summit in Dubai that stating that oil has to remain underground will not lead to an energy transition but to energy chaos

Basim Mohammed, Iraqi Deputy Minister of Oil for Exploration and Production Affairs, stated that the resumption of crude oil exports from the north depends on renegotiating the current production-sharing contracts to a profit-sharing model

This marks the second discovery by the company in Block 52, with the first one in 2020, confirmed by Petronas Suriname E&P, a subsidiary of Petronas, and Suriname’s national oil company, Staatsolie

Shell, Argentina’s YPF and Houston-based APA Corp are among the companies awarded licenses. Ancap estimates the potential oil and gas in place is around 20 billion barrels