Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy. Shell, which had 83,000 employees at the end of 2019, said that the reorganization will lead to additional... Continue Reading →
(Reuters) - France's Total TOTF.PA on Wednesday said it would hike its annual investments in renewable energy and electricity by 50% as it cuts its reliance on oil and aims to become a major low-carbon power producer. Faced with gloomy long-term prospects for oil demand, Total has been accelerating a push into alternative sources of revenue, with... Continue Reading →
To adjust and transform to cleaner sources of energy, the world’s largest oil and gas firms could sell or swap oil and gas assets of more than $100 billion, Rystad said. Rystad said on Tuesday that oil and gas majors were revising their long-term oil price and demand outlook and that they need to streamline... Continue Reading →
Sept 14, 2020 Fossil fuel consumption is set to shrink for the first time in modern history as climate policies boost renewable energy while the coronavirus epidemic leaves a lasting effect on global energy demand, BP said in a forecast. BP's 2020 benchmark Energy Outlook underpins Chief Executive Bernard Looney's new strategy to "reinvent" the... Continue Reading →
September 11, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on 07/06/2020, informs the beginning of the binding phase regarding the sale of its stakes in five power generation companies: Brasympe Energia S.A. (“Brasympe”), Energética Suape II S.A. (“Suape II”), Termoelétrica Potiguar S.A. (“TEP”), Companhia Energética Manauara S.A. (CEM) and... Continue Reading →
Sept 11, 2020 Policymakers still tend to talk about the global energy transition in the future tense, as something that might or will happen in the next few decades, but the transition is already well underway and shows signs of accelerating. Global energy consumption has already been shifting from a mid-20th century system dominated by... Continue Reading →
Sept 10, 2020 Even the cleanest fossil fuel is losing its appeal to rich nations. Just a few years ago, natural gas was hailed as vital for the transition toward an economy that runs on renewable energy. But sentiment is changing and the fuel is going the same way as coal, its dirtier sibling shunned... Continue Reading →
Sept 10, 2020 Offshore energy services provider Saipem and gas grid operator Snam have signed an agreement to work together on energy transition technology. Under the memorandum of understanding signed, the two Italian companies will jointly work on green hydrogen and carbon capture initiatives, "with the aim of fighting climate change and contributing to the... Continue Reading →
Sept 8, 2020 Baker Hughes is pivoting to customers preparing for the transition to a low-carbon future, bolstering its footprint beyond oil and gas oilfield services, its chief executive said on Tuesday. The company will continue to downsize its oilfield services and equipment portfolio, CEO Lorenzo Simonelli said at the Barclays CEO Energy-Power conference, putting... Continue Reading →
As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy companies were spending billions of dollars on major oil and gas assets and costly drilling... Continue Reading →
Brazil Energy Insight 