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(OffshoreEnergy.biz) Japanese FPSO operator MODEC has achieved a new milestone by completing the keel laying for the construction of a floating production, storage, and offloading (FPSO) hull, which is destined for ExxonMobil’s fifth oil development in the Stabroek block offshore Guyana. A ceremony to mark the beginning of construction for the FPSO Errea Wittu was held on February 2,... Continue Reading →
(Reuters) An Exxon Mobil-led oil consortium will need to decide by October whether it will go ahead and develop a large natural gas find off the coast of Guyana, the country's vice president said on Thursday. The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The... Continue Reading →
(Reuters) - The oil firm to be created from the merger of Brazil's 3R Petroleum and Enauta wants to explore the Foz do Amazonas' basin if state-run firm Petrobras finds oil there, its future CEO Decio Oddone told Reuters. Enauta has rights over an oil block in Foz do Amazonas, considered the most promising area in Brazil's so-called... Continue Reading →
(Reuters) - Brazil's government expects Petrobras will pay out all of its extraordinary dividends, according to a revenue projection for this year, even though the state oil company has yet to make a decision on that. "We consider the distribution of 100% of Petrobras' extraordinary dividends as the probable scenario," Treasury Secretary Rogerio Ceron said on... Continue Reading →
(Oilprice.com) A second Trump presidency could place a huge part of renewable energy investments at risk, increase carbon emissions by 1 billion tonnes more by 2050 and delay peak fossil fuel demand by 10 years beyond current forecasts, energy analytics firm Wood Mackenzie has predicted. WoodMac projects ~$7.7T in overall spending by the U.S. energy sector... Continue Reading →
(Reuters) - Rating agency Moody's on Wednesday downgraded Colombian majority state-owned energy company Ecopetrol into junk territory, citing increased indebtedness, a boost in dividends and an ambitious investment plan over the next three years. Moody's cut Ecopetrol's long-term issuer rating and senior unsecured ratings to Ba1, considered "junk," from Baa3. Ecopetrol has been taking on... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, in continuity to the Material Facts disclosed on May 14 and 15, 2024, informs that the People Committee of its Board of Directors, functioning as the Eligibility Committee (CELEG), concluded, on this date, the analysis of Mrs. Magda Chambriard for the positions of Member of the Board of Directors and... Continue Reading →
(Reuters) Oil major BP has paused discussions with Venezuela on the development of a gas project on the maritime border with Trinidad and Tobago following the expiration of a U.S. license to Venezuela in April, a company spokesperson said on Wednesday. BP this year conducted negotiations with Venezuela and Trinidad to develop the 1 trillion... Continue Reading →
(OE) Dominion Energy has announced that the first monopile foundation for the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW), the largest offshore wind farm under construction in the United States, has been installed approximately 29 miles off the Virginia Beach coast. The monopile was installed by the Orion, DEME Group's heavy lift vessel. Once complete in... Continue Reading →
( Offshore-Energy.biz)Oslo Stock Exchange-listed semi-submersible accommodation vessel owner and operator Prosafe has shared its fleet utilization rate for April 2024 alongside insights into the vessel activity during the first quarter of the year. The firm recorded a 56% fleet utilization in April 2024, somewhat lower than the level reported for January, but higher than the utilization rate... Continue Reading →
Brazil Energy Insight 