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(Offshore Energy) South Korean shipbuilders Korea Shipbuilding & Offshore Engineering and Samsung Heavy Industries have won orders for a total of seven new LNG carriers. On 17 May, KSOE said it won a $910 million (1.17 trillion KRW) order to construct four new LNG carriers. Specifically, its units Hyundai Heavy Industries and Hyundai Samho Heavy Industries will... Continue Reading →
Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) by the late 2030s, equivalent to about 75 per cent of the expected amount of gas produced by Russia in 2022, according to research by Rystad Energy. In early March, the European Union announced it aims to reduce its dependence on... Continue Reading →
Japan's biggest oil and gas explorer Inpex Corp raised its net profit forecast for 2022 by 20% to a record 300 billion yen ($2.3 billion) thanks to higher-than-expected oil prices and a lower yen against the U.S. dollar. Its annual net profit prediction was raised from its February estimate of 250 billion yen as the... Continue Reading →
GAS Entec has completed the conversion of a 125,000m³ LNG carrier into an FSRUfor KARMOL, a joint-venture between Turkey's Karpowership and Japan's Mitsui OSK Lines (MOL), for deployment in Senegal. The company, a subsidiary of Atlantic Gulf & Pacific International Holding (AG&P), has converted the LNG carrier into an 84 mmscfd Modular Floating Storage and Regasification... Continue Reading →
PetroReconcavo, an independent onshore oil and gas producer, with 22 years of experience in the sector, announces its financial and operating results for 1Q22. The Company recorded net revenue of R$703 million in 1Q22, which represents an increase of 147% compared to 4Q21, and 186.2% compared to 1Q21 when revenue was R$ 246 million. The... Continue Reading →
(WO) Greenfield investments in Angola and other leading and emerging hydrocarbon producing countries in Africa will help increase cumulative capital expenditure across the continent’s oil and gas sector in 2022 and beyond. According to the African Energy Chamber’s (AEC) Q1 2022 Outlook, The State of African Energy, which takes a deep dive into Angola’s current... Continue Reading →
(Reuters) - Shell (SHEL.L) on Thursday reported a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division. The last of the energy majors to report results, Shell joins sector rivals, including BP (BP.L) and TotalEnergies (TTEF.PA) in making big profits from the commodity price volatility stoked... Continue Reading →
(Reuters) - Equinor (EQNR.OL) reported record earnings on Wednesday, as the war in Ukraine triggered an energy supply crunch that sent gas prices soaring to all-time highs. The state-controlled Norwegian company has emerged as a big winner in Europe's energy crisis, generating $18 billion in adjusted pretax earnings in the first quarter as it sold gas at... Continue Reading →
(Reuters) - British oil major BP (BP.L) will continue betting on "lower carbon, more economical" offshore oil and gas exploration and production, a company executive said on Monday, warning that lack of investment could lead to global oil scarcity. Offshore operations allow better control of emissions, especially in the U.S. Gulf of Mexico, said Starlee Sykes, BP's... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, on April 30, 2022, it started producing oil and natural gas through FPSO Guanabara, the first definitive production system installed in the Mero field, in the Santos Basin pre-salt. The platform, an FPSO (floating unit for the production, storage, and transfer of oil and gas) type, is capable... Continue Reading →
Brazil Energy Insight 