(OE) Hexicon, a Swedish twin floating wind turbine technology company, has set up a joint venture in Greece with the local company EAMAA. "This is a first step to start the development of floating offshore wind projects off the coast of Greece. A new legal framework for offshore wind is expected this year and Hexicon... Continue Reading →
Wood hired to support Senegal’s first offshore oil development
(Offshore Energy) UK oilfield services provider Wood has been awarded a contract by Woodside Energy for the Sangomar FPSO development, located offshore Senegal. The floating production storage and offloading (FPSO) vessel is specifically designed for the processing of hydrocarbons and the storage of oil before being transported to markets around the world. On completion in... Continue Reading →
Siemens signs contract to supply turbomachinery for the P-78 topside
(PN) Siemens Energy will supply a topsides turbomachinery package for the P-78 platform. The contract was signed with Keppel Offshore & Marine. The FPSO, which is owned by Petrobras, will also be operated by the Brazilian state-owned company, in partnership with the Chinese CNOOC and CNODC in Campo de Buzios, in the Santos Basin, approximately... Continue Reading →
Argentina gov’t says Bolivia gas deal to save $769 mln, replace LNG imports
(Reuters) - Argentina's new deal with Bolivia to up natural gas imports will bring savings of $769 million in foreign-exchange reserves and replace 14 vessels of increasingly expensive liquefied natural gas (LNG), Energy Secretary Dario Martinez said on Friday. Argentine President Alberto Fernandez and his Bolivian counterpart Luis Arce on Thursday reached a deal for... Continue Reading →
Rystad: 2022 global energy spending to reach $2 trillion
(OGJ) Soaring oil, gas and power prices—combined with the European Union (EU) reducing its reliance on Russian supplies and post-COVID-19 pandemic inflation—will push global energy spending to $2.1 trillion this year, according Rystad Energy research. Upstream oil and gas spending is expected to rise 16%, or $142 billion, from last year, as oil and gas... Continue Reading →
3R Petroleum March Production Data
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for March 2022 in the assets that the Company holds participation. (1) Refers to 3R's stake in all Polo Macau concessions. On December 21, 2021,... Continue Reading →
Pairing offshore wind and oil & gas goes beyond decarbonization – report
(Offshore Energy)A study commissioned by Crown Estate Scotland has revealed that connecting offshore wind installations directly to oil and gas platforms could help decarbonisation, support economic activity, and encourage new companies to enter the offshore renewable energy sector. The report, carried out by independent consultancy company Natural Power on behalf of Crown Estate Scotland, follows... Continue Reading →
U.S. fuel oil imports from Latin America jump ahead of Russia wind-down
(Reuters) - Record volumes of fuel oil from Latin America landed in the United States in March, customs data showed, as refiners snapped up alternatives to Russian feedstocks ahead of Washington's April 22 deadline to end U.S. imports of Russian oil. U.S. Gulf Coast refiners that use fuel oil to supplement heavy crude went hunting... Continue Reading →
Shell blames oil, gas margin calls for billions in cash outflows
(Reuters) - Shell said on Thursday it diverted $7 billion of its cash flows partly to cover hefty oil and gas margin calls, becoming the first company to publicly acknowledge the pressure commodities traders have faced in 2022 from extreme price rises and volatility. Shell, together with other majors, utility companies, trading houses and banks,... Continue Reading →
Offshore Wind: Mitsubishi, Shell Aim to Produce 400,000t of Green Hydrogen
(Reuters) Japan's Mitsubishi Corp and Shell aim to produce 400,000 tonnes of "green hydrogen" in 2030 through the companies' European offshore wind power project, the Yomiuri newspaper reported on Thursday. Dutch renewable energy firm Eneco, owned by Mitsubishi and Japan's Chubu Electric Power Co, has decided to invest 10% in a joint venture that includes... Continue Reading →
Brazil Energy Insight 