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(Reuters) - Oil prices dropped by more than 1% on Tuesday ahead of the expected release of U.S. crude reserves to cool the market while resurgent COVID-19 cases in Europe also weighed on demand. The United States' planned release of emergency oil reserves is part of a plan that President Joe Biden's administration has hashed... Continue Reading →
(Reuters) - Siemens Energy (ENR1n.DE) and conglomerate Andrade Gutierrez (AGIS.UL) have won 1 billion euro ($1.1 billion) contract to build a 1.7 gigawatt combined cycle power plant in Brazil, the German group said on Tuesday. The contract has been awarded by Gas Natural Acu (GNA), a joint venture of Siemens Energy, BP (BP.L), Prumo Logistica and China's State... Continue Reading →
(Reuters) - U.S. natural gas producers will face billions of dollars in hedging losses for 2022 as the global energy crunch boosts gas prices to multi-year highs, research by consultancy Rystad Energy showed on Friday. Expectations of strong LNG demand for months boosted U.S. futures to a 12-year high in early October, with prices nearly... Continue Reading →
(Reuters) - Industries including energy, steel and chemicals are looking to develop large-scale hydrogen applications to help reduce carbon emissions and avert global warming. Although hydrogen is the most abundant element in the universe, it's very scarce as a gas, and so far most methods of producing gas at scale release large amounts of carbon... Continue Reading →
(Reuters) - Petroleo Brasileiro SA (PETR4.SA) is expected to commit between $60 billion and $70 billion in capital expenditure (capex)in its next multi-year business plan as Brazil's state-controlled oil company focuses on exploration and production in subsalt areas, two sources said on Thursday. The 2022-2026 Petrobras plan, to be released on Nov. 25, is in the final... Continue Reading →
(PetroleoHoje) Vibra Energia (former BR Distribuidora) plans to sell the Espírito Santo government's stake in ES Gas, the disinvestment in the state distributor is scheduled for the first half of 2022, said the company's president, Wilson Ferreira Jr.. In September, the state government signed a contract with BNDES to carry out studies aimed at modeling... Continue Reading →
(Valor) World leader in wind turbines, Danish Vestas intends to be an important player in the Brazilian offshore wind energy market. This new front has started to engage and should gain regulation by the end of the year. In an interview to Valor, the company's global CEO, Henrik Andersen, highlighted offshore wind and green hydrogen... Continue Reading →
The market for offshore wind farm cables is set to grow six-fold over the course of this decade, according to a new report published by RenewableUK. The global market for subsea power cables is divided between array cables which run between the turbines of an offshore wind farm connecting them to the offshore substation, and... Continue Reading →
(Reuters) - Royal Dutch Shell (RDSa.L) said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas. The company, which long faced questions from investors about its dual... Continue Reading →
Several African countries plan to exploit their oil and gas reserves to tackle poverty and energy shortages, representatives gathered in Dubai said this week in the face of pressure to end fossil fuel extraction to curb global warming. Officials and industry executives stressed that Africa as a whole has a relatively small carbon footprint, which... Continue Reading →
Brazil Energy Insight 