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(OWB) This year is set to be one of the busiest for offshore wind developers and governments around the world as a multitude of new sites are scheduled to be awarded for offshore wind farm construction. From the much longer list of auctions coming up in 2023, each bearing national and/or global significance, offshoreWIND.biz is... Continue Reading →
(Reuters) - Colombia is targeting a 15% increase in crude oil output by using "enhanced recovery" technologies to take advantage of higher energy prices, even as it pushes towards decarbonization, Minister for Mines and Energy Irene Velez said in an interview. The government of President Gustavo Petro, the first leftist to lead Colombia, hopes to... Continue Reading →
(WO) — Houston American Energy Corp. announced the acquisition of an additional interest in Hupecol Meta, LLC., on December 9th. “We are excited about the increase of our interest in the CPO-11 block, the progress made by Hupecol Meta to date, and the outlook for the development of the block,” John Terwilliger, CEO of Houston... Continue Reading →
(Reuters) Colombian state oil company Ecopetrol on Tuesday reported its third-quarter net profit more than doubled to 9.51 trillion pesos ($1.90 billion), rising 150% from a year earlier, as production returned to levels not seen since before the coronavirus pandemic. The firm's revenues climbed 86% to 43.44 trillion pesos, while earnings before interest, taxes, depreciation... Continue Reading →
(Reuter) Income derived from hydrocarbon exploration and production in Colombia is key to the country's financial stability and its trade balance, its fiscal rule committee said on Monday, and suspension of exploration would put fiscal sustainability at risk. The government of new leftist President Gustavo Petro, who promised on the campaign trail to halt all... Continue Reading →
(Reuters) - Colombia's government may change its position on prohibiting new contracts for oil exploration, director of public credit Jose Roberto Acosta said on Thursday, citing the valuable income brought by the sector. Granting new contracts for oil exploration would represent a major U-turn for the government of leftist President Gustavo Petro, who previously described oil... Continue Reading →
(OED) Latin America's offshore wind capacity could reach 34 GW by 2050, driven by off-grid green hydrogen projects, according to energy intelligence group Wood Mackenzie, a Verisk subsidiary. Currently, there are no commercial offshore wind farms in operation in the region. According to Wood Mackenzie, offshore wind activity will correspond to a 15.4% compound annual... Continue Reading →
(Reuters) - Colombian state energy company Ecopetrol is selling more of its oil production to Europe, replacing Russian supplies, while it sees growing competition for market share in Asia. About 40-50% of Ecopetrol's crude production is exported to Asia this year compared with 60% last year, Ecopetrol's Chief Executive Officer Felipe Bayon told Reuters on... Continue Reading →
(Reuters) - Colombia's new government must drop taxes on oil exports from a proposed tax reform and scrap plans to stop energy companies from offsetting taxes with royalty payments, in favor of surcharges based on production, the private oil producers association said on Thursday. Colombia's new leftist President Gustavo Petro has proposed a tax reform... Continue Reading →
(Rigzone) Colombia’s upstream sector is especially dynamic in 2022. Offshore exploration of the Colombian Caribbean has delivered in 2022 with Shell and Petrobras hitting the target with their wells earlier this year. Shell and Petrobras hit natural gas pay in the Gorgon-2 and Uchuva-1, both with Ecopetrol as a non-operating partner – according to Wood... Continue Reading →
Brazil Energy Insight 