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(Reuters) - The Biden administration aims to transform the United States into the world’s leading producer of energy from offshore wind after years of lagging behind Europe, a senior official said on Wednesday. President Joe Biden’s cabinet earlier this week unveiled a plan to boost the industry that promised new acreage, faster permitting, and billions... Continue Reading →
(Reuters) - Colombia has provisionally approved U.S. oil company ExxonMobil Corp’s plan to develop a pilot project for hydraulic fracturing, known as fracking, in the country’s Valle Medio del Magdalena basin, the oil regulator said on Wednesday. With the Platero investigative project ExxonMobil becomes the second company to begin a fracking pilot project in Colombia,... Continue Reading →
(Reuters) - Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil and gas driving profits, the company signaled in a securities filing on Wednesday. The largest U.S. oil producer last year posted four consecutive quarterly losses as falling oil prices and... Continue Reading →
3R Petroleum (RRRP3) raised R$ 822.8 million with a new issue of shares (follow-on), four months after debuting on the Stock Exchange with an IPO that raised R$ 690 million. According to the relevant fact, R$ 559.5 million will go to the capital account of the oil company, and R$ 263.3 million will remain in... Continue Reading →
A Stena Drilling-owned drillship, Stena IceMAX, has arrived in Mexico ahead of its contract with the Spanish oil company Repsol. In a social media update on Wednesday, Stena Drilling said that the Stena IceMax rig had arrived in Tampico, Mexico to finalise preparations for its upcoming contract with Repsol. Repsol awarded the contract to the Stena drillship... Continue Reading →
Oil major ExxonMobil is preparing to start up a gas compressor on SBM Offshore’s Liza Destiny FPSO, operating offshore Guyana, this week following a technical issue that started in January 2021. As previously reported, ExxonMobil started experiencing technical issues with the gas compressor on the SBM Offshore-owned FPSO Liza Destiny, which is working on the Liza field located offshore... Continue Reading →
(Reuters) - The merger of Chrysaor and Premier Oil is due to complete on Wednesday, creating Harbour Energy, the UK North Sea’s biggest oil and gas producer, which will replace Premier’s stock exchange listing from Thursday, Premier said. The reverse takeover of Chrysaor by Premier Oil, which traces its history back to the 1930s, ushers... Continue Reading →
(Bloomberg) --The head of oil trader Gunvor Group Ltd. expects prices to remain stuck where they are as draws of excess stocks slow amid rising coronavirus cases in Europe. “Oil prices are going to stay where they are - 65 ish - give or take a bit,” Torbjorn Tornqvist, the chairman and chief executive officer... Continue Reading →
(Reuters) Shortly before taking office late in 2018, President Andres Manuel Lopez Obrador vowed to boost crude oil production at Mexican giant Pemex by nearly half, following more than a dozen years of decline. The ambitious goal of increasing the state-run company's oil output from 1.8 million barrels per day (bpd) to 2.6 million bpd... Continue Reading →
Robots could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition, Rystad Energy has found. "Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for... Continue Reading →
Brazil Energy Insight 