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(Reuters) Guyana, one of the world's hottest oil drilling zones, will offer 14 offshore exploration blocks under terms that "significantly" increase its share of oil revenue, the South American nation's vice president said on Thursday. Officials this week approved an oil lease auction with timing details to be disclosed by the Ministry of Natural Resources.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in continuation of the statement released on 06/10/2022, informs that a decision was rendered by the Court of appeal of the State of Rio de Janeiro overturning the previous ruling that granted an injunction that freezed the contractual negotiations with the consortium of companies Petroreconcavo and Eneva concerning to the... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras (PETR4.SA) on Thursday posted a stronger than expected 48% surge in third-quarter profit, the latest in a string of stellar quarters under market-friendly managers whose days may be numbered. Petroleo Brasileiro SA, as it is formally known, reported net profit of 46.1 billion reais ($9.01 billion) or 3.56 reais a... Continue Reading →
(OED) Cable installation has kicked off at Vineyard Wind, the U.S. first commercial scale offshore wind farm, at a site located 15 miles south of Martha’s Vineyard. Vineyard Wind, the company developing the namesake wind farm, also announced that it expects to begin nearshore cable work off the south coast of Cape Cod in... Continue Reading →
Italy-headquartered Prysmian Group has been awarded a contract by Réseau de Transport d’Électricité (RTE) to provide power grid asset management services for Saint-Nazaire, Fécamp, and Calvados wind farms offshore France. Under the contract, Prysmian Group will provide inspection, maintenance, and repair services for the submarine export cable links connecting the three offshore wind farms near the... Continue Reading →
Pipeline Technique (PTL), a provider of welding and coating solutions to the global onshore and offshore energy sectors, has entered into a long-term agreement with Subsea 7 for the provision of welding and coating services. PTL will provide Subsea 7 with access to both specialists and equipment. Ben Mackay, Chief Operating Officer for PTL, said... Continue Reading →
(Reuters) - Top oilfield services firm SLB (SLB.N) anticipates oil and gas offshore activity will surpass levels before the COVID-19 pandemic, as strong demand and pricing drive investment into the industry. "We maintain the view that upstream spending is very resilient," Chief Executive Olivier Le Peuch told investors at a conference in New York on Thursday, adding... Continue Reading →
(TN) Equinor Brasil, on behalf of the partners in the Bacalhau project, informs that Seadrill Management has safely started the drilling phase of the field. Drilling activities are being carried out by West Saturn, a rig adapted for subsea depths of up to 3,600 meters. The Bacalhau field is located in the Santos Basin, at... Continue Reading →
(OEM) Carbon capture and storage (CCS) projects in the Gulf of Mexico could play an important role in meeting U.S. greenhouse gas emission reduction goals, however, many challenges remain, according to a report by Wood Mackenzie. There are currently 22 CCS projects in the U.S., accounting for 19% of global activity, with six projects in... Continue Reading →
(Reuters) - Danish energy firm Ørsted on Thursday lifted its profit outlook for the year on the back of high power prices, while third-quarter core earnings slightly lagged expectations on the back of soft performance in its key offshore unit. Ørsted now expects 2022 earnings before interest, tax, depreciation, and amortization, excluding new partnerships of... Continue Reading →
Brazil Energy Insight 