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After discovering oil and the Graff-1 well in Namibia in 2022, Shell has now made another offshore oil discovery in the country's deep waters. This time, Shell made a discovery at the Jonker-1X deep-water exploration well, QatarEnergy and Namcor, Shell's partners in the PEL-39 Exploration License, offshore Namibia, said Monday. Using the Deepsea Bollsta semi-submersible drilling rig, the Jonker-1X... Continue Reading →
(Reuters) Guyana, the South American country that is home to the world's largest oil discoveries in a decade, next wants to develop its mostly untapped natural gas reserves, Vice President Bharrat Jagdeo said on Sunday. The nation aimed to diversify its oil sector and secure new sources of revenue before the energy transition to renewables... Continue Reading →
(Reuters) Exxon Mobil Corp hopes to get Nigerian government approval to allow the stalled sale of its shallow water oil production operations in the West African country, a top Exxon executive told Reuters. The largest U.S. oil company will keep its deep-water assets in Nigeria despite a change in the government's leadership, Exxon Global Upstream... Continue Reading →
(Reuters) Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras, and Chevron, to consider the decade's hottest oil region, people close to the matter said. The South American country is offering 14 offshore blocks, a move to speed economic development and reduce an Exxon Mobil-led consortium's dominance... Continue Reading →
Breakwater Energy, a subsidiary of EIG, an institutional investor in the global energy and infrastructure sectors, has acquired a 25% interest in Repsol Upstream for a total consideration of around $4.8 billion, including debt, with Repsol holding the remaining 75%. Repsol Upstream owns and operates Repsol’s globally diversified portfolio of upstream assets, comprising more than... Continue Reading →
Total production in January was 4.175 million barrels of oil equivalent per day (boe/d), of which 3.274 million barrels of oil per day (bbl/d) and 143.215 million cubic meters of natural gas per day (m³/d ). In oil, there was an increase of 6.5% compared to the previous month and 8% compared to January 2022.... Continue Reading →
Subsea7, Siem Offshore, and Kongsberg Maritime have signed a Memorandum of Understanding to jointly look at optimisation of marine operations for floating wind projects. The main objective of the study is to identify gaps in capabilities of existing marine operation methodologies and equipment, to enable robust and efficient execution of large-scale floating wind developments planned... Continue Reading →
(Reuters) - Shell (SHEL.L) is reviewing its current plan to reduce oil output by 1% to 2% per year by 2030, Chief Executive Officer Wael Sawan said in an interview with the Times published on Friday. Sawan took office at the start of the year with a vow to boost Shell's performance and review its operations, while... Continue Reading →
(Reuters) Development of what would be the world’s largest wind farm off the coast of Britain is in doubt, with developer Orsted saying it needs more support from the government such as tax breaks to proceed with the project after costs soared. The 8 billion pound ($9.6 billion) Hornsea 3 project is expected to have... Continue Reading →
Italian shipbuilder Fincantieri, through its subsidiary Vard, has signed a contract with offshore wind vessel operator Edda Wind, for the construction of four Commissioning Service Operation Vessels (CSOV). The first two vessels are expected to be delivered in Q1 2025, the third in Q2 2025, and the fourth in Q1 2026. The contract has a... Continue Reading →
Brazil Energy Insight 