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(Reuters) - A Guyana Appellate Court judge on Thursday temporarily stayed a lower court's order requiring Exxon Mobil (XOM.N) and partners in offshore oil production to provide an unlimited guarantee to cover potential oil spills. The stay lifts a cloud over oil production at the nation's first offshore oil platform. Exxon had said that if the stay... Continue Reading →
(OW) SouthCoast Wind, the developer of an offshore wind lease area off the coast of Massachusetts, has started discussions with this US state’s representatives and utilities to terminate its existing Power Purchase Agreements (PPAs) citing ”material and unforeseen supply chain and financing cost increases affecting the whole offshore wind industry.” The SouthCoast Wind, a 2.4 GW... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) and two partners earned $5.8 billion last year from offshore oil production in Guyana, according to audited results filed in an appeal of a court ruling that found them in breach of insurance obligations. The filing is the first disclosure of 2022 profits Exxon, Hess Corp (HES.N) and CNOOC Ltd (0883.HK) earned from oil produced... Continue Reading →
May 19, 2023 - Petróleo Brasileiro S.A - Petrobras informs that it answered, on today's date, to the requests contained in Official Letter nr. 386/2023/GM-MME, from the Ministry of Mines and Energy ("MME"), in the terms below: Regarding the denial by IBAMA of the environmental licensing process for Block FZA-M-59 in Amapá Águas Profundas, Petrobras... Continue Reading →
(epbr) The Federal Audit Court (TCU) informed that it found no evidence of irregularities in the sale by Petrobras of the Shale Industrialization Unit (SIX) and of the Northeast Lubricants and Derivatives Refinery (Lubnor). Monitoring also included divestments from the Phil Project – Phase 2, which include the Gabriel Passos Refinery (Regap) and the Isaac... Continue Reading →
A Guyanese court recently ruled that ExxonMobil failed to provide adequate insurance for the costs of recovering from a potentially catastrophic oil spill from its first oil development project located off the coast of Guyana. According to High Court Justice, Sandil Kissoon, ExxonMobil “engaged in a disingenuous attempt” to dodge the full responsibility under its environmental permit for the Liza Phase I... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the National Petroleum Agency (ANP) approved, on April 14, 2023, a proposal for an agreement between the ANP and Petrobras for the termination of the lawsuit and all pending issues involving the updating of the physical-chemical characteristics of the Jubarte Current and its impact on the recalculation of... Continue Reading →
(Reuters) - Judges at the International Court of Justice (ICJ) on Thursday ruled they had jurisdiction over a long-running border dispute between Guyana and Venezuela, which could determine which country has rights to territory rich in oil and gas. Guyana in 2018 asked the ICJ, also known as the World Court, to confirm that the... Continue Reading →
(Reuters) - General Electric Co (GE.N) has settled all its outstanding wind turbine technology patent disputes in the United States and Europe with Siemens Gamesa Renewable Energy S.A (GAM.HA), the companies said on Friday. Terms of the settlement, which was described as amicable, were not disclosed. Under the deal, the companies and their subsidiaries will receive cross licenses... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors has considered, on today's date, the content of Official Letter 166/2023/GM-MME, of 02/28/2023, and of Official Letter 257/2023/GM-MME, of 03/29/2023, and considering its attributions, concluded that the review of the investment and divestment processes must be carried out based on the Company's "Strategic Plan",... Continue Reading →
Brazil Energy Insight 