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In 3Q22, Petrobras kept a solid operating performance, with average production of oil, NGL and natural gas reaching 2.64 MMboed, virtually in line with 2Q22. Results in 3Q22 fully contemplate the impacts of the production sharing contracts related to the Transfer of Rights Surplus Volumes of Atapu and Sepia - which became effective on May... Continue Reading →
(Reuters) Portuguese oil and gas company Galp Energia reported a 16% increase in adjusted third-quarter profit on Monday, thanks to soaring oil prices and a near-doubling of its refining margin. Oil and gas companies around the world received a boost after Russia's invasion of Ukraine sent energy prices soaring just as demand was rapidly recovering... Continue Reading →
(Reuters) Mozambique expects to ship its first liquefied natural gas (LNG) exports to Europe from the Eni-operated Coral Sul floating plant later this month or early November, petroleum regulator INP said on Friday in a supply boost for the energy-starved region. BP's LNG tanker, British Sponsor, has already arrived offshore northern Mozambique, said Welligence Energy Analytics in... Continue Reading →
(Reuters) - Soaring natural gas prices have made hydrogen produced from fossil fuels increasingly uneconomic and spurred more than $70 billion of new investment in hydrogen from renewables since war broke out in Ukraine, a report said on Thursday. So-called green or clean hydrogen is made using electrolyzers powered by renewable energy to split water from oxygen,... Continue Reading →
(EV) The cost of clean hydrogen will fall to that of liquefied natural gas in a decade as global efforts to replace fossil fuels accelerate, according to Europe’s biggest operator of gas infrastructure. “Green hydrogen today is not economically competitive against alternative energy sources, which will not be the case in 10 years’ time,” Thomas... Continue Reading →
(OW) BP is advertising a new opening in its offshore wind business, this time looking for the Head of Floating Offshore Wind, who will develop and lead its global floating offshore wind team from BP’s base in the UK. The company participated in public discussions on California’s (floating) offshore windBP is also exploring floating wind as... Continue Reading →
(Reuters) - Petroecuador expects to soon award a contract to expand production from the country's vast Amistad offshore gas field, Ecuadorean state oil firm company said late on Thursday. Following failed previous attempts to find an investor, Petroecuador in June launched a new competitive process to select a contractor for Amistad, in the Gulf of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of 100% of its stake in Petrobras Operaciones S.A. (POSA), Petrobras' wholly owned subsidiary in Argentina, which holds a 33.6% stake in the Rio Neuquén Field. The teaser, which contains the key information about the opportunity, as... Continue Reading →
(Reuters) Ecuador is planning to offer, most likely in 2024, blocks for offshore exploration and production of natural gas at the Gulf of Guayaquil, following auctions for onshore areas to be completed next year, Energy Minister Xavier Vera said on Monday. Vera expects to greenlight a proposal in the coming months once blocks are defined... Continue Reading →
Fifteen years and R$ 20 billion later, Porto do Açu, a mega-complex port-industry is already among the ten largest in the country in terms of cargo handled. It has already contracted over R$ 22 billion in investments over the next five years. Prumo Logística, owner of the venture, controlled by the American fund EIG, is... Continue Reading →
Brazil Energy Insight 