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(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 →
Italian oil giant Eni has signed a contract with China's Wison Heavy Industry for the construction and installation of a Floating Liquefied Natural Gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum). The FLNG will be deployed offshore the Republic of Congo. The 380-meter-long and 60-meter-wide vessel will be anchored at... Continue Reading →
(Reuters) - Octopus Energy’s generation arm said on Thursday it is investing in Spanish-headquartered renewables developer FF New Energy Ventures (FFNEV) to expand activities in Spain and enter the Portuguese market for the first time. The investment also aims to accelerate expansion into Latin America in the future, the firm said. Financial details of the... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 10/14/2022, informs the beginning of the non-binding phase regarding the sale of 100% of its equity interest in Petrobras Operaciones S.A. (POSA), a wholly-owned subsidiary of Petrobras in Argentina and holder of a 33.6% interest in the Rio Neuquén Field. Potential buyers qualified... Continue Reading →
(Reuters) - Private U.S. oil and gas companies are increasingly turning to a niche financing structure that securitizes their production, providing a funding avenue for producers and owners as traditional sources become more expensive or simply dry up. Known as PDP asset-backed securitizations (ABS), this product takes revenue generated by companies' proved, developing and producing... Continue Reading →
(Reuters) - The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year. Sales of U.S. crude to other nations are now a record 3.4 million barrels per day (bpd), with exports of about... Continue Reading →
(OE) N'GENIUS claims its high-strength austenitic stainless steels will transform the design and construction of onshore and offshore oil, gas, and LNG facilities."The global demand for LNG is projected to reach 700 million tonnes per year by 2040 fuelling the need for greater LNG infrastructure including import receiving and export terminals, FLNG vessels, and LNG... Continue Reading →
