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As the spending on clean energy seems to be growing by leaps and bounds while investments in fossil fuels are not keeping up with this pace, the International Energy Agency (IEA) believes that this pivot to green and low-carbon sources is paving the way for peak oil demand to come into view. Is black gold... Continue Reading →
(PN) As of today, the domestic Oil & Gas market will have a new company operating ultra-deep water drilling assets. Created from the restructuring of the Ocyan Drilling Unit, Foresea is born with a totally independent operation and with great potential for new investments. Its main shareholders are international funds. Under the presidency of the... Continue Reading →
(OE) Frontera Energy Corporation, in partnership with CGX Energy, said Tuesday it had reached total depth (TD) of 20,450' on the Wei-1 bypass exploration and appraisal well (Wei-1BP1), offshore Guyana. The original Wei-1 wellbore reached a depth of 19,142'. A bypass well (Wei-1BP1) was drilled from 18,757' to total depth (TD) and penetrated the primary... Continue Reading →
(OE) In a Westwood survey on offshore wind cost inflation, nearly three-quarters of industry players indicated that they had started reviewing the viability of their projects in light of recent cost increases, with over 90% indicating that decision-making had slowed as a result. The survey and market analysis by Westwood explores the impact of inflation... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the press releases published on 03/01/2023 and 04/27/2023, informs that it will pay, on Friday, 06/16/2023, the second installment of the complementary dividends referred to the 2022 fiscal year, based on shareholding position as of 04/27/2023, in connection to the Material Fact released on that date. The... Continue Reading →
Active floating drilling rig utilization has rebounded from a low of 65% in 2018 to over 85% in 2023, energy intelligence group Wood Mackenzie said Monday, adding that the growth in demand and rates could even spur construction of new offshore rigs. "According to Woodmac, the number of contracted ultra-deepwater (UDW) benign rigs has returned... Continue Reading →
Unipar informed that the negotiations with Novonor and with its creditor banks holding mortgages on the potential operation involving the control of Braskem have evolved. The company sent a non-binding proposal to Novonor, which contemplates the partial payment of creditor banks, as well as new conditions for the remaining debt balance, and the possibility of... Continue Reading →
(OET) Brazilian offshore oil and gas industry services provider Ocyan has confirmed the completion of its restructuring process, which enabled it to separate its drilling business into a new company, temporarily being called DrillCo. The business side covering offshore production, subsea construction and decommissioning, maintenance, and offshore services remains fully at Ocyan, according to the... Continue Reading →
(PN) Petrobras' refineries operated at 95% of their total operating capacity in May. This is the company's best monthly result since July 2015. On some days, in the second half of the month, the level even exceeded 99%. The historic result was achieved even with scheduled maintenance stoppages at RPBC (Cubatão, SP), Refap (Canoas, RS),... Continue Reading →
(Reuters) - Renewable energy group Orsted (ORSTED.CO) will invest 475 billion Danish crowns ($68 billion) to achieve a 2030 goal to install 50 gigawatts (GW) of power capacity, it said in an investor update on Thursday. The Danish company said the plans were fully self-funded and it expected to exceed goals set in 2021 for earnings before... Continue Reading →
Brazil Energy Insight 