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(Reuters) - Geneva-based energy trader Gunvor Group on Wednesday said it has renewed a $1.565 billion loan facility to support the working capital needs of its liquefied natural gas (LNG) activities globally. The credit arrangement launched at $1.2 billion was oversubscribed and increased from $1.135 billion to $1.565 billion, the company said. As a part... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil giant Petrobras should abandon planned divestments in refining and natural gas and expand in those areas instead, according to a detailed report from President Luiz Inacio Lula da Silva’s transition team. The document, drafted in late 2022 by a group of energy experts aligned with Lula, recommends that Petrobras start... Continue Reading →
(PH) Petrobras to launch as soon as possible the notice for the charter of the two Floating Storage and Transfer Units (FPSOs) for Sergipe Aguas Profundas (SEAP). According to the website, the state-owned company intended to publish the notice at the end of last year awaiting the approval of the project's partners, the companies Bharat... Continue Reading →
(Reuters) Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained the biggest source of power, National Grid data showed on Friday. Britain has a target to reach net zero emissions by 2050 which will require a huge scale-up of renewable power generation such as wind and... Continue Reading →
(Reuters) - Earnings from Shell's (SHEL.L) liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday. Europe's largest oil and gas company's update ahead of its full-year results on Feb. 2 also said it... Continue Reading →
(Reuters) - The United States is on track to become the world's biggest exporter of liquefied natural gas (LNG) this year - ahead of current market leader Australia - once a fire-idled Texas plant is restarted, according to Reuters data. A June fire sidelined Freeport LNG, the second biggest U.S. export facility, and cut U.S.... Continue Reading →
(OET) With the lessening of restrictions imposed due to the COVID-19 pandemic, expectations of the oil and gas market’s recovery dominated at the start of 2022 prior to the Ukraine crisis. In the wake of Russia’s war in Ukraine, many industries, including the offshore energy industry, were thrown for a loop, which caused a lot... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it has signed the Integrated Natural Gas Processing System (SIP) contract with CNOOC Petroleum Brasil Ltda. (CNOOC) and, together with Petrogal Brasil, Repsol Sinopec Brasil and Shell Brasil, partners in the Santos Basin pre-salt offshore pipelines, has concluded the process of CNOOC's adhesion to the existing contracts of... Continue Reading →
(Reuters) - Argentina's booming shale production in Vaca Muerta, a formation that rivals the United States' Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth. The government is now racing to build out infrastructure: a major... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/12/2022, informs that its Executive Board approved adjustments to the competitive process for the sale of all of its 18.80% stake in UEG Araucária S.A. (UEGA), with the end of the current phase and the restart of the process. In this process, Petrobras... Continue Reading →
Brazil Energy Insight 