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(PetroNoticias) The future owner of the Landulpho Alves Refinery (RLAM) will be called Acelen. The new company was created by the Mubadala Capital fund, which signed a refinery acquisition contract with Petrobras in March, and is expected to take over the asset when the purchase process is completed, which is subject to some precedent conditions,... Continue Reading →
(Reuters) - Brazil's economy contracted slightly in the three months to June, government statistics agency IBGE said on Wednesday, stalling more than expected as a second wave of the pandemic hurt demand. The 0.1% decline in Brazil's gross domestic product from the prior quarter was worse than the median forecast for 0.2% growth in a... Continue Reading →
(Reuters) - Crude output in Venezuela's key Orinoco oil belt plunged by a quarter to less than 300,000 barrels per day (bpd) in August due to a shortage of diluents needed to blend with the region's extra-heavy crude, documents seen by Reuters showed. The drop comes as state oil company PDVSA directs more medium and... Continue Reading →
(Reuters) - Oil prices edged higher on Thursday, supported by a sharp decline in U.S. crude stocks and a weaker dollar, though gains were capped by an OPEC+ decision to stick to its policy of gradually increasing output. Brent crude was up 45 cents, or 0.6%, at $72.04 a barrel by 1101 GMT and West... Continue Reading →
Offshore drilling equipment specialist Dril-Quip, has named Jeffrey J. Bird as its new President and Chief Executive Officer. Effective as of January 1, 2022, he'll replace Blake T. DeBerry, who will step down at that time. DeBerry will continue to serve as Chief Executive Officer and as a member of the Board until December 31,... Continue Reading →
Norwegian offshore vessel operator DOF Subsea has won more work in Brazil with Petrobras. After a recent three-year contract secured for a pipelay support vessel duo co-owned with TechnipFMC, DOF Subsea said Thursday it had secured a contract extension with Petrobras for the diving support vessel Skandi Achiever. The extension will see the Skandi Achiever... Continue Reading →
Norway-based consultancy DNV has said that fossil fuels will still constitute 50 per cent of the global energy mix by 2050, compared to 80 per cent held for decades, warning that the energy transition is not fast enough for the world to achieve the net-zero target by 2050. DNV also warned in its latest energy... Continue Reading →
Italian oil company Eni on Wednesday announced a major oil discovery in block CI-101 offshore Ivory Coast. "The potential of the discovery can be preliminarily estimated at between 1.5 and 2.0 billion barrels of oil in place and between 1.8 and 2.4 trillion cubic feet (TCF) of associated gas," Eni said. The discovery well has... Continue Reading →
While some of the oil production in the U.S. Gulf of Mexico has been brought online following Hurricane Ida, which swept across the Gulf coast earlier this week, nearly 94 per cent remains offline. The U.S. Bureau of Safety and Environmental Enforcement (BSEE) said in its latest update, published on Tuesday 31 August, that personnel had... Continue Reading →
(Reuters) - Brazil's Mines and Energy Minister Bento Albuquerque on Tuesday warned that the country's energy crisis was worse than previously thought, as a record drought hampers hydropower generation. In a televised national address preempting the nightly news, Albuquerque said that the crisis had deepened. Water reserves at hydropower plants have already fallen to their... Continue Reading →
Brazil Energy Insight 