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(Reuters) Germany aims to speed up wind and solar energy projects, a document seen by Reuters showed on Monday, as the war in Ukraine underscores the need to reduce reliance on Russian gas. Cutting back on Russian gas has been tricky for Europe's largest economy as it is already set to exit nuclear power this... Continue Reading →
Norwegian energy group Equinor (EQNR.OL) said on Monday it will start the process of divesting from its joint ventures in Russia amid Moscow's invasion of Ukraine. Equinor is the second major European oil and gas producer, after energy major BP , to announce its exit from Russia as Western countries ramp up efforts to punish Russia with... Continue Reading →
(Reuters) - BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow's invasion of Ukraine. Rosneft accounts for around half of BP's oil and gas reserves... Continue Reading →
(Bloomberg) -- After watching big banks curtail lending and asset managers pare bets, fossil fuel producers are now losing access to some of Wall Street’s deepest pockets. Blackstone Inc., once a major player in shale patches, is telling clients its private equity arm will no longer invest in the exploration and production of oil and... Continue Reading →
Energy intelligence group Rystad Energy expects the gas output from Sub-Saharan Africa to double by 2030, driven by the development of offshore deepwater resources. Untapped natural gas supplies in Sub-Saharan Africa are set to be unleashed this decade, with output more than doubling from 1.3 million barrels of oil equivalent per day (boepd) in 2021... Continue Reading →
(Reuters) Chevron is looking to sell its stakes in three oil and gas fields in Equatorial Guinea, hoping a recent rally in energy prices will help attract buyers, three industry sources told Reuters. The U.S. company acquired the assets in the West African country as part of the $13 billion acquisition of Noble Energy in... Continue Reading →
(Reuters) - The global liquefied natural gas (LNG) market is expected to remain tight this year following last year’s volatility which saw demand rise 6% and gas prices hit an all-time high, Shell (SHEL.L) said on Monday. Natural gas prices around the world soared late last year due to a combination of tightening supplies, weaker renewable power... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 04/09/21, informs that it concluded today, together with its subsidiary Petrobras Gás S.A. (Gaspetro), the transaction to finalize the pending litigation with Termogás S.A. (Termogás). As a result of this transaction, Termogás acquired the shares of Companhia Maranhense de Gás (Gasmar) held by... Continue Reading →
(Reuters) - Glencore's (GLEN.L) traded oil volumes fell to below 4 million barrels per day in 2021 for the first time since 2015, the company's results showed on Tuesday. The global trader and miner traded 3.86 million bpd in 2021, down from 4.2 million bpd a year earlier, showing it has not recovered volumes after the peak... Continue Reading →
(OM) Petrobras achieved record presalt production from its fields offshore Brazil last year, averaging 1.95 MMboe/d. This represented 70% of the company’s total production, and is twice as much as the total presalt output from five years earlier. Late last month the FPSO Guanabara arrived at the Mero field in the pre-salt Santos basin. The vessel, the first at... Continue Reading →
Brazil Energy Insight 