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(Reuters) - Brazil's central bank on Wednesday chose to keep interest rates unchanged, pausing an aggressive monetary tightening cycle even as U.S. and European policymakers are still racing to catch up with inflation. The bank's rate-setting committee, known as Copom, decided by a vote of 7-to-2 to leave its benchmark Selic interest rate at 13.75%... Continue Reading →
Allseas has won a contract with TC Energy (TCE) to install the offshore stretch of the Southeast Gateway Pipeline in the Gulf of Mexico. The 700-kilometer natural gas pipeline will run south along the coast from Tuxpan through the Gulf of Mexico to Coatzacoalcos and Dos Bocas. Allseas’ scope covers engineering and construction, as well... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/28/2022 and 08/31/2022, informs that it has carried out today the payment of the 2nd installment of the remuneration to shareholders approved by its Board of Directors in a meeting held on 07/28/2022. The gross amount distributed today corresponds to dividends of R$... Continue Reading →
(Reuters) - Maroil Trading, owned by shipping tycoon Wilmer Ruperti, has taken over sales of almost all Venezuela's exports of petroleum coke, a move that could reduce sanctions risks for clients, according to documents and four sources close to the decision. The Geneva-based company has boosted exports and customers since signing a commercial pact with... Continue Reading →
French energy major TotalEnergies has approved the final investment decision for the Fenix gas development, located 60 km off the coast of Tierra del Fuego in southern Argentina. This development is said to be the world’s southernmost gas project. Through its Total Austral affiliate, TotalEnergies operates the project with a 37.5 per cent interest, in... Continue Reading →
(Reuters) - Argentine oil pipeline operator Oleoductos del Valle (Oldelval) will invest $750 million to double its transport capacity from the Vaca Muerta shale formation, the country's energy ministry announced Friday, hoping to boost exports and dollar reserves. Oldelval aims to boost capacity to 72,000 per day from 36,000 cubic meters in two years, the... Continue Reading →
(OE) Prysmian Group has won two contracts worth more than €800 million, including options, with Amprion Offshore – a subsidiary of German transmission system operator Amprion - for the design, supply, installation, and commissioning of land and submarine cables for two offshore wind farm grid connection systems in Germany’s North Sea, DolWin4 & BorWin4. The DolWin4... Continue Reading →
(Reuters) - The Biden administration on Thursday unveiled a plan to accelerate development of next-generation floating offshore wind farms by slashing the cost of the technology by 70% and setting a goal for it to power 5 million U.S. homes by 2035. The announcement was the latest in the White House's push to bolster the... Continue Reading →
(Reuters) - Colombia's new government must drop taxes on oil exports from a proposed tax reform and scrap plans to stop energy companies from offsetting taxes with royalty payments, in favor of surcharges based on production, the private oil producers association said on Thursday. Colombia's new leftist President Gustavo Petro has proposed a tax reform... Continue Reading →
(EV) It could soon cost half a million dollars a day to hire an offshore rig, according to executives in the industry, in a stunning turnaround for day rates since Covid. Rig rates have surged from a point of “only just covering operating costs” two years ago. At that time, the UK North Sea had... Continue Reading →
Brazil Energy Insight 