Petrobras' 2018-2022 Business and Management Plan illustrates the company's improved financial and operational status while underscoring its offshore focus. Ambitious divestment and production targets will be offset by more conservative pricing assumptions, suggesting the company is well-positioned to achieve its targets.
The shakeup at PdVSA will expand the role of the military within the upstream to cement its support for the regime. A lack of skilled workers will exacerbate development challenges, informing our production downgrade for 2018.
On November 20, Nebraska's Public Service Commission approved an amended route for TransCanada's Keystone XL (KXL) pipeline. The permit was the final regulatory hurdle for the 830,000b/d project that has been plagued by federal and state-level setbacks since 2010.
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