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(OE) Sonadrill, Seadrill's 50:50 joint venture with an affiliate of Sonangol, has secured a 12-well extension in Angola for the Libongos drillship at $402,500 per day. The total contract value for the firm part of the deal is around $327 million, inclusive of additional services, Seadrill said. The contract is expected to start in the... Continue Reading →
(Reuters) - ConocoPhillips (COP.N) reported a jump in third-quarter profit on Thursday, extending a string of bumper earnings from global oil producers benefiting from higher energy prices and robust demand, and sweetened its share repurchase plan to $45 billion. The company's larger U.S. rivals Exxon Mobil (XOM.N) and Chevron (CVX.N) have also reported strong results, rekindling calls for energy companies to... Continue Reading →
(OED) Mainstream Renewable Power and Ocean Winds said Wendesdayhave signed the seabed lease agreement with Crown Estate Scotland to the value of £36million for the development of a 1.8 GW floating offshore wind farm off Shetland. The companies were appointed preferred bidder by Crown Estate Scotland during the ScotWind clearing process in August 2022. With... Continue Reading →
(YF) The global net-zero goals set out by the Paris Agreement are still within reach — but achieving them will require a $100 trillion investment, according to a new report by BNY Mellon Investment Management and Fathom Consulting. That amount equates to around 15% of all global investment or 3% of global GDP over the next 30... Continue Reading →
Canada’s CGX Energy and Frontera Energy, partners in the Corentyne block offshore Guyana, have revised the spud window for their second exploration well on this block since the rig, which has been hired to carry out drilling operations, has run into delays on its current assignment. Following positive results from the first well, Kawa-1, Frontera Energy... Continue Reading →
Italian energy industry services firm Saipem said Wednesday it had, in consortium with Bouygues Travaux Publics and Boskalis (BSB), installed and ballasted the Gravity-Based Structures (GBS) foundations for the Fécamp offshore wind farm in Normandy, France. In 2020, the BSB Consortium was awarded the contract for the design, construction, and installation works of the GBS.... Continue Reading →
(Reuters) Danish wind turbine maker Vestas reported on Wednesday a wider-than-expected operating loss for the third quarter, cutting its full-year outlook due to continued cost inflation and supply chain instability. Vestas cut its 2022 profit margin outlook to minus 5% from previously between minus 5% and 0%, and narrowed its full-year revenue forecast to between... Continue Reading →
(Reuters) - BP (BP.L) more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion, joining rivals in reporting bumper profits that have sparked renewed calls for energy companies to pay more taxes. London-based BP joins rivals including Shell (SHEL.L), Exxon Mobil and TotalEnergies (TTEF.PA) which also reported bumper profits last week... Continue Reading →
Japanese floating oil and gas production systems provider MODEC has signed a contract to perform Front End Engineering and Design (FEED) for an FPSO vessel for ExxonMobil's “Uaru” oil field development project offshore Guyana. The FEED contract award relates to the initial funding by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to begin... Continue Reading →
(Bloomberg) -- Investors are closely watching whom Brazilian President-elect Luiz Inacio Lula da Silva will pick to lead Petroleo Brasileiro SA to gauge how much its business strategy will change under the new, more left-wing administration. Lula, a former president who oversaw Petrobras’s expansion into the famed pre-salt region that now delivers about 70% of... Continue Reading →
Brazil Energy Insight 