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(OE) Around 30 production floater contracts are now queued up for award over the next 18 months, assuming no major market disruption occurs and the supply chain can absorb the orders within this time frame. That’s the conclusion of an in-depth market analysis just completed by IMA/WER. The market surge is being driven by crude... Continue Reading →
(Reuters) - Guyana plans to meet an unprecedented growth expected in its power demand by building a new gas-fueled plant and expanding its hydropower capacity, a key step to leave behind fossil fuels for generating electricity, President Irfaan Ali said this week. Latin America's newest oil producer on Thursday launched a low-carbon strategy ahead of... Continue Reading →
Petrobras won extra time from the National Petroleum Agency (ANP) to present the declarations of commercial viability for the discoveries of Farfan (BM-SEAL-4), Barra (BM-SEAL-10) and Moita Bonita (BM-SEAL-11) , in the Sergipe-Alagoas basin. The new deadline given to the company will be valid until December 30 of this year. To the ANP, Petrobras said... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) remains focused on hydrocarbons and plans to press ahead with a $30 billion liquefied natural gas project in Mozambique, a top executive said on Thursday. "We've been in hydrocarbons for over 130 years... it's the core part of our business and it will be for a long time," Exxon Senior Vice... Continue Reading →
(Reuters) - CNOOC Ltd's(0883.HK) unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday. The state oil firm said it is mapping out a emission-cutting roadmap together with parent company China National Offshore Oil Company under the broad national framework... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) said high gas prices in Europe and Asia could last into spring as the French energy group reported a sharp rise in third quarter earnings on Thursday on surging power prices. The company's third-quarter adjusted net profit soared to $4.8 billion, from just $848 million last year, from core earnings that more than... Continue Reading →
Royal Dutch Shell set itself tougher emissions-cutting targets on Thursday, even as it reported a lower-than-expected third-quarter profit of $4.13 billion. The oil major said it would cut absolute emissions from its operations and the electricity it uses, known as Scope 1 and 2 emissions, by half by 2030 compared with 2016. The company has... Continue Reading →
Global wind power leader Iberdrola reported a 10% fall in net profit on Wednesday but beat market expectations for a turbulent nine months on energy markets which saw its home government in Spain swoop on utilities' earnings. Power and gas prices have soared to record highs around the world as economies fired up after the... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) posted its strongest quarterly result in nine years on Wednesday, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring. Equinor has the largest exposure to spot gas prices among big oil companies and its results come ahead... Continue Reading →
Top U.S. oil firms are doubling down on drilling, deepening a divide with European rivals on the outlook for renewables, and winning support from big investors who do not expect the stateside companies to invest in wind and solar. Among a dozen U.S. fund managers contacted by Reuters from companies overseeing about $7 trillion in... Continue Reading →
Brazil Energy Insight 