Petrobras cleared to boost crude runs at Rnest

Petroleo Brasileiro SA (Petrobras) has received approval from state regulators to lift crude oil throughputs to levels nearing full design capacity at the first 115,000-b/d production train of its Abreu e Lima refinery (Rnest) at the port of Suape, near Recife, the capital of Brazil’s Pernambuco state. Source: News


Barclays: Global E&P budgets to see double-dip in 2016

In a survey of 225 companies for the annual Barclays E&P Spending Outlook, upstream oil and gas companies plan to reduce spending by 15% globally in 2016, following a 23% decline in 2015. This represents only the second time spending has fallen in consecutive years in the 31-year history of the survey. The first “double-dip” […]


Eni seeks partner for chemicals business

Eni SPA wants a partner for its petrochemical business, Versalis. In a meeting with government and trade union officials at the Ministry of Economic Development in Rome, Eni officials reported progress with a transformation plan for the chemical subsidiary, which has lost money in recent years. Source: News


Tullow updates upstream activity in Africa

Tullow Oil PLC reported that the Tweneboa-Enyenra-Ntomme (TEN) development project offshore Ghana is more than 80% complete and on track to begin production in July or August. Source: News