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(Reuters) - For the poor, small South American country of Guyana, there's no time like the present when it comes to reaping the rewards of its offshore oil jackpot. With sky-high oil prices, a transition to renewable energy on the horizon and 750,000 citizens desperate for better lives, Guyana is putting its foot on the... Continue Reading →
(Reuters) - U.S. oil and gas dealmaking fell to $12 billion last quarter, down from the first quarter and nearly a third of the $34.8 billion in the same period a year ago, as commodity price volatility left buyers and sellers clashing over asset values, according to data released by energy analytics firm Enverus on... Continue Reading →
Equinor's Hywind Tampen floating wind farm in Norway will become operational this year, becoming the world's largest floating wind farm, however, it will not be as big as planned, at least not in 2022, due to steel quality issues found in four of 11 turbines. Namely, as previously reported, Equinor is developing the 11 turbine... Continue Reading →
(OEM) With two-thirds of global resources in their hands, seven National oil companies (NOCs) own the lion’s share of remaining discovered oil and gas resources, says Wood Mackenzie, an energy intelligence group. Following Russia’s attack on Ukraine, the outlook for the supply, demand, and price of hydrocarbons is constantly shifting, leading to a rewriting of energy trade... Continue Reading →
(WO) The Global Underwater Hub (GUH) says floating offshore wind represents the greatest opportunity for the £8 billion ($9.5 billion) subsea industry in the UK this generation and must not be missed. The new strategic, intelligence-led organization, set up to transform the UK’s underwater industry into one of the largest and fastest-growing industries in the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 06/03/2022, informs the beginning of the non-binding phase for the sale of its entire 18.80% stake in the company UEG Araucária S.A. (UEGA), located in the state of Paraná. Potential buyers qualified for this phase will receive a process letter containing detailed information... Continue Reading →
(Reuters) - Major international players have dropped out of the bidding process for a Brazilian power distributor owned by Enel SpA (ENEI.MI), leaving two local firms competing head-to-head for the asset, three sources with knowledge of the matter said. Equatorial Energia (EQTL3.SA) and Energisa SA (ENGI11.SA) were the only companies still interested in Celg-D, which distributes power to the center-west... Continue Reading →
(Upstream) As the world begins the shift towards cleaner and more efficient sources of energy, Brazil's focus can sometimes seem to be fixed on fossil fuels. This is understandable, considering Brazil's pre-salt oil fields are capable of producing more competitively and, advocates say, with lower emissions than just about any other offshore province. In a... Continue Reading →
(Reuters) - EDF (EDF.PA) shares surged on Tuesday, after two sources told Reuters that the French government was poised to pay more than 8 billion euros ($8 billion) to bring the power giant back under full state control. One of the sources said the cost of buying the 16% stake the French state does not already own... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it is reassessing the date for the start of operation of the Route 3 Integrated Project, scheduled for the second half of 2022, due to the demobilization of the workforce of the company SPE Kerui-Método, responsible for the works of the Natural Gas Processing Unit (UPGN) of the... Continue Reading →
