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(Reuters) - BP's trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company's trading results said, as the energy major benefitted from a gas crisis that has left consumers and industries smarting. Natural gas and power prices soared to an all-time high in Europe and... Continue Reading →
Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50% by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday. Morgan Stanley has raised its long-term LNG price outlook to $10 per million British thermal units (mmBtu), expecting... Continue Reading →
Petrobras - In 3Q21, we continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached 2.83 MMboed, 1.2% above 2Q21, mainly... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) board is debating whether to continue with several major oil and gas projects amid a global push from investors for fossil fuel companies to be more cost-conscious and green-energy friendly, WSJ reported on Wednesday. Activist investor Engine No. 1 in May shocked the oil-and-gas industry when three of its four nominees... Continue Reading →
(WO/Bloomberg) --Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy. Work will begin on constructing a major gas-fired power plant in 2022 on the expectation that a 220-kilometer (135-mile) pipeline will be... Continue Reading →
(Valor) TotalEnergies (formerly Total) promises to intensify investments in renewables, but, at the same time, it is looking closely at the Brazilian oil and gas market. The French oil company, which changed its name to symbolize its migration towards the energy transition, sees Brazil as a strategic player in the search for projects with increasingly... Continue Reading →
(OM) Angola’s crude oil production has declined almost 30% in just six years, from 1.7 MMb/d in 2015 to just shy of 1.2 MMb/d in 2021, according to GlobalData. The company now expects further decline for the country through to 2025, which is forecast to see about 1.1 MMb/d – despite the multiple expansion projects that... Continue Reading →
SBM Offshore, one of the world's largest suppliers of floating, production, storage, and offloading (FPSO) vessels for the offshore oil industry, is looking at ways to diversify its offering, with a more dominant role predicted for gas in the future. The company, which has the ambition to have 25% of revenues from Gas & Renewables... Continue Reading →
(Offshore) Wood Mackenzie estimates that the global upstream industry could net a windfall of over $1 trillion if oil prices remain above the $50/bbl planning price. According to research director Kavita Jadhav, there are various ways the industry could invest the extra revenue. These include returning cash to shareholders, maintain spending on oil and gas, and... Continue Reading →
Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum to reflect what it said was a broader strategy but said it had no plans to sell assets to raise funds as other Gulf state producers have. "We have plenty of cash," Chief Executive Saad al-Kaabi said on... Continue Reading →
Brazil Energy Insight 