DNV and Altera Infrastructure test notation to reduce emissions in offshore installations

DNV introduced a new class notation, Abate, designed to help owners and operators of offshore floating facilities identify and implement measures to reduce greenhouse gas (GHG) emissions. Altera Infrastructure, the first company to adopt the solution, has incorporated the notation into the FPSO "Petrojarl Knarr", with successful results so far. The International Maritime Organization (IMO)... Continue Reading →

September 28, 2021 0

Brazil: Output from Manati Offshore Field Stopped Due to Gas Leak

Brazilian oil firm Enauta has said production from the Manati offshore field in Brazil was stopped preventively on Monday due to small gas leakage in the inland pipeline between the compression station and the gas treatment station. "The operator is assessing the causes of this incident, resumption still will be estimated. The Company will keep... Continue Reading →

September 28, 2021 0

Brazil central bank eyed hiking rates more than 100 bps

(Reuters) - Brazil's central bank weighed accelerating the world's most aggressive monetary tightening, minutes from its last policy meeting showed on Tuesday, but uncertainty about a post-pandemic rebound led it to stay the course on 100-basis-point rate hikes. The minutes of the Sep. 21-22 meeting, when the bank raised its Selic policy rate to 6.25%,... Continue Reading →

September 28, 2021 0

ENEVA INAUGURATES THE AZULÃO FIELD GAS TREATMENT UNIT IN THE AMAZON

(PetroNoticias) Eneva inaugurated the Azulão Gas Treatment Unit (UTG), which is part of the Azulão-Jaguatirica integrated project, in the city of Silves, in the interior of Amazonas. This is the first gas producing area in the Amazon Basin. Azulão was discovered by Petrobras in the 1990s and declared commercial in 2004, but had never produced.... Continue Reading →

September 28, 2021 0

Braskem reaches ethane supply deal with Pemex, including new terminal

(Reuters) - Brazilian petrochemical producer Braskem (BRKM5.SA) said on Tuesday its Mexican subsidiary Braskem Idesa has reached a new gas supply agreement with Petroleos Mexicanos (Pemex) (PEMX.UL) to settle pendencies between the companies and build a new ethane terminal. According to a securities filing, the new terminal for ethane imports would fulfill Idesa's needs for the raw... Continue Reading →

September 28, 2021 0

TotalEnergies to buy back shares and boost renewables investment

(Reuters) - TotalEnergies (TTEF.PA) plans to buy back $1.5 billion of its shares in the fourth quarter and boost its investment in renewable energy with the help of high oil prices, the French energy major said on Tuesday. "TotalEnergies is confident in its ability to combine energy transition and shareholder return, thus creating long-term shareholder value," the... Continue Reading →

September 28, 2021 0

Floating Dreams: Portugal Bets on Offshore Wind, Solar Farms

From a colossal wind farm floating amid choppy ocean waves to hundreds of solar panels on the surface of a dammed reservoir, Portugal is exploring innovative ways to boost renewable energy. Mass use of such projects may still be too pricey, but trailblazers like Portugal stand to benefit when costs ease. Bathed in sunshine all... Continue Reading →

September 28, 2021 0

Brent Shoots Past $80 a Barrel

Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which hit factory output tempered the rally. Brent crude futures gained 67 cents, or 0.8%, to $80.20 a barrel at 1016 GMT, after reaching their highest level since October 2018 at $80.75.... Continue Reading →

September 28, 2021 0

BW Energy: No Formal Decision on Petrobras’ Assets Buy

Oslo-listed oil and gas company BW Energy, responding to press speculation, said Monday it had not made any formal decision to buy any of Brazil-based Petrobras' assets. BW Energy said it had noted the press speculation regarding the possibility of BW Energy acquiring the Golfinho field in Brazil, which Petrobras has put up for sale.... Continue Reading →

September 27, 2021 0

World to reach peak oil demand before 2030 – TotalEnergies

(Reuters) - Global oil demand is expected to peak before 2030, earlier than previously projected, TotalEnergies (TTEF.PA) forecast on Monday. The French oil major - which had previously forecast the peak happening around 2030, rather than before - said its business was now working on the assumption that global consumption would start declining before the end of... Continue Reading →

September 27, 2021 0