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(Reuters) - Equinor (EQNR.OL) on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double its previous high, as gas prices soared and fourth-quarter results beat expectations, boosting its share price by 7%. The Norwegian oil and gas producer's adjusted earnings before tax and interest for October-December rose to $15.1 billion from $15... Continue Reading →
(Reuters) Trinidad and Tobago's Prime Minister Keith Rowley on Friday told Parliament his government had been in touch with Venezuela following U.S. license to jointly develop a key gas field, and the first meetings to begin negotiations have been set up. The United States last week issued a two-year license allowing Trinidad to jointly develop... Continue Reading →
UK-headquartered energy giant BP has unveiled its new energy outlook, highlighting the main trends and uncertainties surrounding the energy sector and the transition to low-carbon and green energy sources over the next three decades. With the current energy and climate crises at the forefront, BP’s new Energy Outlook explores the key trends and uncertainties surrounding the energy... Continue Reading →
(Reuters) - Argentina's government reached a $540 million deal with development bank CAF for the extension of natural gas pipelines and related infrastructure linked to the country's Vaca Muerta basin, Economy Minister Sergio Massa announced on Wednesday. The infrastructure plan, expected to be approved in March, aims to boost a pair of gas pipeline projects... Continue Reading →
(Reuters) The Biden administration has granted a license to Trinidad and Tobago to develop a major gas field located in Venezuelan territorial waters, U.S. and Trinidad officials said on Tuesday, marking a further easing of some sanctions on Venezuela. The license, issued by the U.S. Treasury Department at Trinidad's request and intended to enhance Caribbean... Continue Reading →
(OET) Italy’s oilfield services provider Saipem has joined forces with MCS, an underwater technical and digital solutions company, to launch a new asset integrity management system for offshore energy operators, which the Italian giant sees as a further step towards the digital and sustainable transformation of the energy industry. Saipem disclosed this week that it has launched... Continue Reading →
(OET) Chinese shipyard Wison Heavy Industry has officially started the construction of a 2.4 million tonnes per year (mtpa) floating liquefied natural gas (FLNG) unit ordered by Italian oil and gas company Eni. The construction began on 17 December with over 200 people attending the opening ceremony, Wison said. At the end of 2022, Eni... Continue Reading →
(Reuters) - Mexican state oil company Pemex illegally burnt off hydrocarbon resources worth more than $342 million in the three years up to August 2022 at two of its most important new fields, internal documents from the country's oil regulator showed. The three documents, produced by the regulator and dated August 2022, detail how Pemex... Continue Reading →
(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 →
Brazil Energy Insight 