(TN) The Minister of Mines and Energy, Alexandre Silveira, announced the availability of approximately R$6 billion in investments for decarbonizing the industry through hydrogen hubs around the world. The initiative is in partnership with the Climate Investment Funds (CIF). The international fund will provide low-cost financing to leverage projects in the sector. The announcement was... Continue Reading →
Petrobras’ pricing strategy avoids passing on market volatility, CEO says
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA), opens new tab has been able to provide Brazilians with price stability despite market volatility caused by an escalation of the conflict in Middle East, its top executive said on Thursday. In an interview with Reuters, CEO Magda Chambriard said Petrobras' commercial strategy allows it "to offer competitive prices... Continue Reading →
Exclusive: BP abandons goal to cut oil output, resets strategy
(Reuters) - BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40%... Continue Reading →
Norway to Offer $3.3B Floating Wind Subsidy
(Reuters) The Norwegian government proposed on Monday to offer up to 35 billion Norwegian crowns ($3.29 billion) in subsidy payments in the country's first commercial floating wind power tender, in line with a compromise reached earlier this year. "Norway has enormous potential for floating offshore wind on its continental shelf, but because the technology is... Continue Reading →
Equinor Becomes Second Largest Shareholder in Ørsted
(OE) Equinor has acquired a 9.8% stake in Ørsted, becoming the second largest shareholder in the company after the Danish State, which holds a controlling stake. Equinor's ownership position has been built over time, through a combination of market purchases and a block trade. The current market value of Equinor's holding in Ørsted is around... Continue Reading →
Latin America gears up for clean hydrogen boom but the road is not smooth
(Reuters) - Latin America's wealth of hydroelectricity and other renewable energy resources could make the region a major producer of clean hydrogen as the world seeks alternatives to fossil fuels to fight the climate crisis, but some big hurdles lie in the way. Government leaders expect a major boon for the region from clean hydrogen,... Continue Reading →
EPE-New ten-year forecasts growth in gas demand and 17% increase in energy transmission network
(PN) The Energy Research Company (EPE), chaired by Thiago Prado, recently published new documents that are part of the Ten-Year Energy Plan (PDE 2034), highlighting encouraging forecasts for both the natural gas market and the energy transmission segment (the publications are available on the EPE website). In the specific document for natural gas, EPE predicts... Continue Reading →
Guyana Receives Bids from Major Energy Players for Oil Marketing Contract
(Reuters) Guyana on Tuesday received bids from major energy companies seeking a 12-month marketing contract to trade the government's share of crude produced in the country, the country's National Procurement and Tender Administration Boardsaid. A total of 27 offers were received, the board said, including bids by Shell, TotalEnergies, Chevron, ADNOC, Gunvor, Vitol, PetroChina, CNOOC... Continue Reading →
BOEM approves plan for Atlantic Shores wind project offshore New Jersey
(offshore-mag.com) The US Bureau of Ocean Energy Management (BOEM) has approved the Atlantic Shores South 1 and 2 project plan to construct and operate two offshore wind energy facilities with a combined generating capacity of up to 2.8 MW. It represents the final approval needed from BOEM following the Department of the Interior’s Record of... Continue Reading →
Ibama grants operating license for FPSO Maria Quiteria in the Jubarte Field
(PN) The Brazilian Institute of the Environment (Ibama) has granted the operating license for FPSO Maria Quitéria, which is already installed in the Jubarte field, in the Espírito Santo portion of the Campos Basin. The platform was only supposed to start operating in 2025, but Petrobras brought forward the first oil from the unit, which... Continue Reading →