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(OM) Colombia’s new President Gustavo Petro has pledged to position his country as a leader of the energy transition. According to Wood Mackenzie, his plans for fiscal reform involve higher taxes for extractive industries, and hydrocarbons provide the primary source of Colombia’s revenue. At the same time, the country has to address the long-standing challenge... Continue Reading →
(Bloomberg) – ExxonMobil Corp., which once planned to bet big on Argentina’s oil and gas riches, has put all of its shale assets in the country under review. Exxon is involved in six areas of Argentina’s heralded Vaca Muerta — Spanish for Dead Cow — formation in Patagonia. The company’s plans to ramp up development... Continue Reading →
(OED) The campaign to install the first of 277 turbines at the world’s largest offshore wind farm - the Dogger Bank Wind Farm in the UK - is underway, SSE Renewables said Thursday. The 260-meter-tall offshore wind turbines – each almost twice the height of the London Eye – will be installed around 80 miles... Continue Reading →
(OW) Japanese utility Kansai Electric Power Corporation (KEPCO) and Ingka Investments, the investment arm of Ingka Group, have joined the UtsiraVIND consortium, which will be bidding in the upcoming tender in Norway for the Utsira Nord area. The UtsiraVIND consortium originated as a partnership between Odfjell Oceanwind, a Norwegian provider of floating offshore wind technologies, and Source Galileo, a... Continue Reading →
(OE) Spending on conventional oil and gas exploration is on the rise and is set to top $50 billion this year, led by offshore investments, however, discovery volumes are falling to new lows, despite the rising investments. This is according to Rystad Energy, a Norway-based energy industry intelligence group. Rystad's estimates show that in the... Continue Reading →
ANP announced that oil production hit a new record in June. The agency released today the Monthly Oil and Gas Production Bulletin for the month of June, bringing consolidated data on national production. During the period, a total of 4.324 million barrels of oil equivalent per day were produced, of which 3.367 million barrels per... Continue Reading →
(Reuters) - BP's (BP.L) second-quarter profit slumped 70% from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy giant to boost its dividend by 10%. Rivals Chevron (CVX.N), Exxon Mobil (XOM.N), Shell (SHEL.L) and TotalEnergies (TTEF.PA) have also reported sharp drops in quarterly earnings, hurt by a drop in energy prices from highs... Continue Reading →
(OW) The US Bureau of Ocean Energy Management (BOEM) has announced three final wind energy areas (WEAs) offshore Delaware, Maryland, and Virginia, which, if fully developed, could support between 4 GW and 8 GW of offshore wind capacity. The three WEAs total approximately 356,550 acres. The first WEA (A-2) is 101,767 acres and is located... Continue Reading →
(OW) Technip Energies has signed a Memorandum of Understanding (MoU) with the yard infrastructure provider, Young Chang, and heavy lifting solutions provider, Sarens, to collaborate on floating offshore wind projects offshore South Korea. Carl Sarens, Managing Director of Sarens Projects, said: ”We are looking forward to our cooperation with Technip Energies and Young-Chang Heavy Industries. Our objective... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, informs that it has carefully observed the developments of the international oil market and its impact on the Brazilian market. The company reiterates that product price adjustments are made in the normal course of its business, due to the continuous monitoring... Continue Reading →
Brazil Energy Insight 