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Guyana has turned into a significant contributor to global crude oil supply growth in just a few short years. This is according to data published by the U.S. Energy Information Administration this week that showed Guyana had the third-fastest production growth rate globally, after the United States and Brazil. Between 2019, when oil production began in the... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, in continuity with the Material Fact disclosed on November 28, 2023, informs that it formalized with the Administrative Council for Economic Defense (CADE), on May 17, 2024, proposals for amendments to the Terms of Cessation Commitment (TCCs) previously established. The aim of these amendments is to adapt the obligations originally... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R”) and ENAUTA PARTICIPAÇÕES S.A. (“Enauta” and, jointly with 3R, the “Companies”), under the terms of article 157, §4, of Law No. 6,404, December 15, 1976 (“Brazilian Corporate Law”), CVM Resolution No. 44, August 23, 2021, and CVM Resolution No. 78, March 29, 2022, following the material facts disclosed... Continue Reading →
(Reuters) Maryland Governor Wes Moore signed a bill aimed at reevaluating and potentially revising existing offshore wind project plans, setting the stage for the state's goal of achieving 8,500 megawatts of offshore wind energy capacity by 2031. The bill signed on May 9 will empower the Maryland Public Service Commission (PSC) to open proceedings to... Continue Reading →
(OE) Siem Offshore has changed its name to Sea1 Offshore following an ownership change that saw the company's founder and chairman exit the Norwegian offshore support vessel (OSV) firm. Kristian Siem, longtime leader of Siem Offshore, stepped away earlier this year after reaching a deal to acquire nine vessels in exchange for his 35% stake in the... Continue Reading →
(Reuters) - Colombia's majority state-owned energy company Ecopetrol (ECO.CN), opens new tab is analyzing its potential direct participation in the Andean country's first-ever offshore wind auction, the company said in a statement to Reuters. The government of President Gustavo Petro, Colombia's first leftist leader, has said it wants to wean the Andean country from its dependence on... Continue Reading →
(Reuters) - Hess Corp (HES.N), opens new tab reported a first-quarter profit on Thursday that beat analysts' estimates, helped by higher production from the oil and gas company that is set to be acquired by U.S. energy major Chevron (CVX.N), opens new tab in a $53 billion deal. Net production at Hess jumped 27.3% to 476,000 barrels of oil... Continue Reading →
(Reuters) - A Brazilian court overturned a previous ruling from a lower tribunal that had suspended state-run oil firm Petrobras (PETR4.SA), opens new tab chairman Pietro Sampaio Mendes from his role, the company confirmed late on Tuesday. Reuters had reported the court decision earlier on Tuesday. Mendes had been suspended by a Sao Paulo judge last week... Continue Reading →
(Reuters) The U.S. will not renew a temporary license that widely eased sanctions on Venezuela's oil and gas sector unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year, a State Department spokesperson said on Monday, three days before the license is to expire. The U.S. has been... Continue Reading →
(Reuters) A Brazilian judge has suspended the chair of state oil firm Petrobras, Pietro Sampaio Mendes, over a conflict of interest regarding his role in the Ministry of Energy, a court decision seen by Reuters on Thursday showed. The ruling by Sao Paulo Judge Paulo Cezar Neves Junior also ordered wage and salary payments to... Continue Reading →
Brazil Energy Insight 