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(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 →
(OE) The second phase of Senegal's Greater Tortue Ahmeyim (GTA) gas project will need investments worth around $5 billion and could start in 2024 or 2025, Senegal's President Macky Sall said on Thursday. BP and U.S.-listed Kosmos Energy KOS.N are leading the development of GTA and Yakaar-Teranga, Senegal's first natural gas projects. The first phase... Continue Reading →
(Reuters) Wholesale gas prices have scaled "insane" levels that will ultimately hurt demand, although the lack of Russian gas means Europe's supply will be tight for several years, the chief executive of German oil firm Wintershall Dea said on Tuesday. The benchmark European gas contract TRNLTTFMc1 has risen by more than 300% in a year and on... Continue Reading →
The energy transition progress towards a sustainable future has encountered roadblocks in the form of fossil fuel subsidies, based on an analysis by the International Energy Agency (IEA) and the Organisation for Economic Co-operation and Development (OECD), which outlines that the backing for fossil fuels almost doubled in 2021, reaching $697.2 billion. While energy transition... Continue Reading →
Brazil Energy Insight 