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Petróleo Brasileiro SA – Petrobras, following up on the release disclosed on 11/05/2021, informs that its Board of Directors, in a meeting held today, approved the sale of all its interest in the Albacora Leste concession, located predominantly in deep waters in the Campos Basin, to the company Petro Rio Jaguar Petróleo LTDA. (PetroRio), a... Continue Reading →
Construction of the 16.8 megawatt Goto floating wind farm in Japan is expected to start in September 2022, with the commercial operations scheduler to begin in January 2024. A a sole bidder, the Japanese Goto Floating Wind Farm consortium, in June 2021, won a bid to build the floating wind farm in an area offshore Goto City, Nagasaki... Continue Reading →
Irish floating wind platform developer Gazelle Wind Power (Gazelle) has signed a memorandum of understanding with the Austrian consulting firm Vienna Consulting Engineers ZT GmbH (VCE) to support its 2MW floating wind pilot project in the Canary Islands. VCE will provide design services—including load capacity determination, inspection planning, performance assessment, and more—as well as monitoring... Continue Reading →
Italian oilfield services giant Saipem has awarded GE Power Conversion a contract to develop the electrical module for Petrobras’ P-79 FPSO. In June 2021 Saipem, in a joint venture with South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), won a contract with to build the FPSO P-79 for Petrobras' Búzios, one of... Continue Reading →
(Reuters) - Suriname's state firm Staatsolie and a unit of Chevron Corp (CVX.N)have signed a production sharing contract for exploring and producing oil at an offshore block, the companies said on Wednesday, expanding their cooperation in the South American country. Surinam is a small onshore crude producer, but the South American country has yet to confirm... Continue Reading →
(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. “We must have a major deepwater port to handle a Panamax” ship, President Irfaan Ali said today during an investment seminar... Continue Reading →
(Reuters) Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn. The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a... Continue Reading →
(Reuters) Exxon Mobil Corp on Tuesday said it found oil in three new wells drilled off the coast of Guyana, raising recoverable oil and gas potential from its discoveries to nearly 11 billion barrels. The discoveries continue a run of exploration successes that date to 2015, and lifts potential oil and gas volumes by nearly... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp (600028.SS), reported 25% surge in net income for the first quarter of 2022, a level last seen in the third quarter of 2020, thanks to elevated crude oil prices but weakening fuel demand as tight COVID controls weighed. Asia's top oil refiner, also known as Sinopec, reported 22.61 billion... Continue Reading →
(Reuters) - U.S. oil and gas producer Hess Corp (HES.N) reported a 65% rise in first-quarter profit on Wednesday, helped by a jump in energy prices due to Russia's invasion of Ukraine. Oil prices hit multi-year records during the quarter as the conflict in Ukraine led to sanctions against Russia, one of the biggest exporters of crude,... Continue Reading →
Brazil Energy Insight 