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The board of the National Petroleum Agency (ANP) approved phase 1 of the Development Plan (PD) of the shared deposit of the Bacalhau and Bacalhau Norte fields, in the Santos Basin. The operator of the area, the Norwegian Equinor, forecasts about US$ 8.5 billion in investments in this stage of the undertaking, with the expectation... Continue Reading →
There has been much talk about natural gas as a transition fuel, primarily in helping to lower emissions and pollution by displacing coal in power generation, but also in complementing intermittent renewables, and targeting the (blue) hydrogen economy in the longer term. Forecasters of energy demand, such as the IEA, tend to project gas demand... Continue Reading →
(Reuters) - Brazil’s lower house approved a new regulatory framework for the natural gas sector in the early hours of Wednesday, a move the government hopes will increase competition in the industry. The bill, which garnered support from industrial consumers, will now be signed into law by President Jair Bolsonaro. “In this difficult moment, this... Continue Reading →
(BUSINESS WIRE)--EIG, a leading institutional investor to the global energy sector, and Prumo Logística S.A. (“Prumo”), a private Brazilian company controlled by EIG, today announced the signing of a Memorandum of Understanding (“MoU”) between Prumo’s subsidiary, Porto do Açu Operações S.A. (“Port of Açu” or the “Port”), and Fortescue Future Industries Pty Ltd (“FFI”). FFI... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that the Brazilian Electricity Regulatory Agency (Aneel) approved, on this date, the revocation of the concession for the ThermoCamaçari Thermal Power Plant (UTE TermoCamaçari), located in the state of Bahia. Additionally, Petrobras is negotiating with Proquigel Química S.A., a company that is part of the Unigel Group, to lease... Continue Reading →
BW Ideol, a company established after oil & gas services provider BW Offshore’s bought into the floating wind technology developer Ideol, has applied for admission to the Oslo Stock Exchange and is expected to start trading there around 18 March. Through the offering of shares, for which a day-long bookbuilding period was launched on 11... Continue Reading →
(Reuters) - Royal Dutch Shell, owner of the world’s largest fuel retail network, said on Thursday its total greenhouse gas emissions dropped 16% in 2020 as oil and gas sales fell sharply due to the coronavirus pandemic. Shell said in its annual report that total emissions from its oil wells to forecourt fuel sales fell... Continue Reading →
(Reuters) - BP’s trading arm made nearly $4 billion in 2020, according to a copy of an internal BP presentation seen by Reuters, almost equalling the record trading profit in 2019 despite the collapse in oil demand caused by the pandemic. Trading revenue for majors such as BP and rival Royal Dutch/Shell shielded them from... Continue Reading →
(Reuters) - Total’s chief executive said on Monday it could take two years for the world economy to recover from the coronavirus pandemic and that oil prices were unlikely to remain at the current high of $70 a barrel. “I am not betting on prices staying at $70 a barrel, for me the right price... Continue Reading →
The COVID-19 pandemic, 2020 crude oil price crash and ongoing global petroleum supply glut have done little to slow the growth of South America’s massive offshore oil boom. The colossal oil boom underway in the tiny South American nation of Guyana is gaining momentum, while Suriname is on the cusp of experiencing its own and... Continue Reading →
