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(Reuters) - Brazilian central bank chief Roberto Campos Neto on Tuesday predicted that inflation will reach 6.5% or a little lower this year, amid government measures that lowered taxes on key goods. The estimate is more optimistic than private economists' expectations of inflation at 6.82%, according to a central bank weekly survey, but still above... Continue Reading →
(Reuters) - Mexico's hydrocarbon regulator has fined state oil company Petroleos Mexicanos (Pemex) for development violations at one of its most important fields that has led to excessive flaring of natural gas, and is preparing another fine for a similar field, according to three sources briefed on the matter. Pressure is mounting on Pemex to... Continue Reading →
Oslo-listed oil and gas E&P company BW Energy has revealed that a former jack-up rig, which was converted to an offshore production unit, is on its way to Gabon where it will be installed at the firm’s offshore development project, which is on track for the first oil at the start of next year in line... Continue Reading →
(Reuters) - A U.S. court upheld a tribunal's $8.75 billion award to U.S. oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case on Friday. The decision gives the U.S. company new authority to collect on a 2019 award by a World Bank tribunal. The award includes... Continue Reading →
(Reuters) - Broker Marsh, a unit of Marsh & McLennan (MMC.N), said on Monday it was launching the world's first dedicated insurance for hydrogen energy projects, as the nascent industry looks to scale up quickly in the fight against climate change. As the world targets net-zero emissions by mid-century in an effort to cap global warming,... Continue Reading →
DNO ASA, the Norwegian oil and gas operator with operations in Kurdistan and the North Sea, is now expanding to West Africa with the agreed acquisition of offshore fields in Ivory Coast. DNO said Monday that RAK Petroleum plc would transfer its ownership of Mondoil Enterprises LLC to DNO. "The all-share transaction comprises Mondoil Enterprises’... Continue Reading →
Three projects, of 2,8 GW in total, will be offered seabed agreements for offshore wind projects following Crown Estate Scotland’s ScotWind clearing process. Clearing saw the ‘NE1’ area east of Shetland made available for ScotWind applicants who met the required standards but who did not secure their chosen location earlier in the leasing process. The... Continue Reading →
(OEM) While the current, improved demand for offshore accommodation rigs is mainly driven by a recovery in the oil and gas market, Prosafe believes that the focus on energy transition will contribute to further demand. Prosafe said in its 2Q 2022 report on Friday that the general outlook has improved significantly as the oil price has recovered... Continue Reading →
(Reuters) - Brazilian central bank chief Roberto Campos Neto on Thursday said Brazil hiked interest rates earlier and faster than the rest of the world, and that people understand the monetary tightening is "largely done." Since raising rates earlier this month to 13.75% from a 2% record low in March last year, policymakers have been... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras hereby informs that the Executive Board approved on August 18, 2022, the 1st issuance of book-entry commercial notes (Issuance), without collateral and personal guarantee, in up to two series (Book-entry Commercial Notes), which will be subject to public distribution, with restricted distribution efforts, under mixed regime of firm guarantee and... Continue Reading →
Brazil Energy Insight 