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(Reuters) - Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy. The drive among top fossil fuel producers to make fast inroads... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed, together with its indirect subsidiaries Breitener Tambaqui S.A. and Breitener Jaraqui S.A., a legal agreement for the receipt of amounts that they claim against Amazonas Energia S/A (debtor) and Centrais Elétricas Brasileiras S.A. - Eletrobras (jointly responsible). Also part of the agreement is the payment... Continue Reading →
(Reuters) - Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter, the world’s biggest fuel retailer said on Wednesday, indicating fuel demand recovery has remained slow amid coronavirus restrictions. In a trading update, Shell said it saw refined oil product sales at 3.7-4.7 million barrels... Continue Reading →
(Reuters) - Global energy trader Vitol suffered an $85 billion fall in revenue last year, but its profits were boosted as trading plays offset the impact of the COVID-19 pandemic on oil demand and prices. Many traders benefited in 2020 from extreme oil price volatility and storage opportunities. In April last year, U.S. light sweet... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on January 7, 2021, informs that today it finalized the joint sale with Wobben Windpower Indústria e Comércio Ltda (Wobben) of all its stakes (51% Wobben and 49% Petrobras) in the companies Eólica Mangue Seco 3 - Geradora e Comercializadora de Energia Elétrica S.A. (Eólica... Continue Reading →
Petróleo Brasileiro S.A – Petrobras informs that as of May 1, 2021, the natural gas sale prices for distributors will increase, by 39% in R$/m3, in relation to the last quarter. Measured in US$/MMBtu, the increase will be 32%. The variation results from the application of the supply contract formulas, which link the price to... Continue Reading →
Offshore oil and gas drilling is set for a rebound this year following a major 2020 pullback when exploration and production companies deferred many activities due to the pandemic and the collapse in oil prices. Lower lifting and breakeven costs at the most prolific offshore oil regions off Brazil and Guyana are setting the stage for... Continue Reading →
(Reuters) - The Biden administration aims to transform the United States into the world’s leading producer of energy from offshore wind after years of lagging behind Europe, a senior official said on Wednesday. President Joe Biden’s cabinet earlier this week unveiled a plan to boost the industry that promised new acreage, faster permitting, and billions... Continue Reading →
(Reuters) - Colombia has provisionally approved U.S. oil company ExxonMobil Corp’s plan to develop a pilot project for hydraulic fracturing, known as fracking, in the country’s Valle Medio del Magdalena basin, the oil regulator said on Wednesday. With the Platero investigative project ExxonMobil becomes the second company to begin a fracking pilot project in Colombia,... Continue Reading →
(Reuters) Shortly before taking office late in 2018, President Andres Manuel Lopez Obrador vowed to boost crude oil production at Mexican giant Pemex by nearly half, following more than a dozen years of decline. The ambitious goal of increasing the state-run company's oil output from 1.8 million barrels per day (bpd) to 2.6 million bpd... Continue Reading →
