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(Reuters) Scientists who detected a massive methane leak at an offshore platform run by Mexico's Pemex said Tuesday there was "no way" they had made a mistake, roundly rebutting claims by the state oil company that the emissions were smaller and less polluting. Pemex, which is under increasing international pressure over its environmental record, last... Continue Reading →
(Reuters) Mexico's oil regulator and state company Pemex are at odds over how to develop a deepwater natural gas project, eight people close to the matter said, threatening to stall a $1.5 billion energy venture. Officials at regulator National Hydrocarbons Commission (CNH) have raised questions about whether Petroleos Mexicanos can shoulder the massive project, the... Continue Reading →
(Reuters) - Global energy trader Vitol Group smashed its previous records by making more profit in the first half of this year than in the whole of last year, people familiar with the matter said. Sources with knowledge of the results said the trading firm made close to $4.5 billion in the first six months... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 66,000 barrels per day (bpd) to a record 5.413 million bpd in October, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(WO) From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. All over Latin America, the upside of $100 crude has been blunted by nationalist policies that tightened government control of... Continue Reading →
(Reuters) - Argentina is on track to hit record oil output this year from its massive shale deposits, which are already responsible for record natural gas production, a key local official said on Tuesday, amid a national push to grow domestic energy supplies. Located in western Neuquen province, the Vaca Muerta shale formation is the... Continue Reading →
As the global energy crisis grips the world in its clutches, taking it by storm, the American Petroleum Institute (API), a trade association representing the oil and gas industry, is advocating for a ramp-up of the U.S. oil and gas production not only as a solution to the energy security concerns plaguing the world at large... Continue Reading →
(Reuters) - Italian energy group Eni (ENI.MI) plans to invest around 4.5 billion euros ($4.47 billion) in upstream activities each year from now to 2025 focusing on several countries, its deputy chief operating officer for natural resources said on Tuesday. "We are fully committed to invest 4.5 billion per annum in the upstream to bring on line... Continue Reading →
(Reuters) - Satellites recorded another large methane leak at an offshore platform belonging to Mexico's Pemex in August, according to exclusive data shared with Reuters, even as pressure mounts on the state oil company to reduce these emissions. Three satellites recorded images of methane plumes at the Ku-Maloob-Zaap oil field cluster in the Gulf of... Continue Reading →
(U) Japanese floater giant Modec has lined up Chinese yard Bomesc Offshore Engineering to build topside modules for the floating production, storage and offloading vessel that Equinor intends to deploy in gas rich Block BM-C-33 in Brazil’s Campos basin. A memorandum of understanding has been signed between Modec and Bomesc, paving the way for a... Continue Reading →
Brazil Energy Insight 