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(Reuters) - Paraguay is advancing talks with energy firms and high-ranking government officials from Argentina and Brazil over a potential $1.5 billion gas pipeline to connect the three countries, senior government officials for Paraguay and Brazil told Reuters. The plan being drawn up by Paraguay, reported in detail for the first time, aims to compete... Continue Reading →
(Reuters) - Shell (SHEL.L), opens new tab reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose. The company said it will buy back a further $3.5 billion of its shares over the next three months, at a similar... Continue Reading →
Petrobras launched a bidding process to contract four large rigs, which will drill oil and gas production wells onshore in the fields of Araçás, Fazenda Azevedo, Massapê , Taquipe, Fazenda Boa Esperança, among others, in Bahia, and Rio do Urucu, Sudoeste do Urucu and Leste Urucu and Arara Azul, in Amazonas. The rigs to be... Continue Reading →
Petrobras has produced first gas through the P-68 platform serving the Berbigão and Sururu fields in the Santos Basin offshore Brazil, the company said in its latest results statement. It also conducted a scheduled shutdown of the Mexilhão Platform (Route 1) in the same basin for preventive maintenance, designed to ensure continued production, flow and natural gas supply operations. In... Continue Reading →
(Reuters) Exxon Mobil Corp will shut down two offshore oil production projects in Guyana for two weeks each, between July and August, to connect a natural gas pipeline, the company's country head Alistair Routledge told reporters in Georgetown on Tuesday. The 140-mile (225-km) pipeline will feed Guyana's $1.9 billion gas-to-power project aimed at ending the... Continue Reading →
In 1Q24, average production of oil, NGL and natural gas reached 2,776 MMboed, increase of 3.7% when comparing with the same period last year (1Q23). Among the main factors behind this variation, we can highlight the ramp-up of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi and Sepetiba, as well as the start-up of... Continue Reading →
(Reuters) - French energy giant TotalEnergies (TTEF.PA), opens new tab posted a 22% decline in first-quarter earnings due to a steep decline in profits from natural gas, while warning that rising crude oil prices could weigh on refining margins in coming months. Adjusted net income for the three months to end-March came to $5.1 billion, the company... Continue Reading →
By Fernando Tamayo, Emissions Team Lead, Welligence Energy Analytics (OE) In recent years, the oil and gas industry has faced mounting pressure to address its environmental impact. This has led many companies to set decarbonization targets – we are tracking more than 460 targets set by independents, majors, and NOCs across the sector. However, achieving... Continue Reading →
(Reuters) - Equinor (EQNR.OL), opens new tab posted a sharp fall in first-quarter profit on Thursday, hit by tumbling natural gas prices in Europe, though strong energy trading and rising output limited the decline. The Norwegian oil and gas producer's adjusted earnings before tax for January-March fell almost 37% to $7.53 billion but beat the $7.2 billion... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that on Thursday (18 April) it signed a Memorandum of Understanding (MoU) with the Argentina state energy company Enarsa to study partnerships in the natural gas segment. The non-binding agreement has a term of three years and will allow for the exchange of information; the assessment of alternatives for... Continue Reading →
Brazil Energy Insight 