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Petróleo Brasileiro S.A. – Petrobras informs that it has signed a long-term Liquefied Natural Gas (LNG) purchase and sale agreement with the British company Centrica. The agreement represents an important step in the company's strategy, as it reduces exposure to spot prices, increases competitiveness and assures greater security of supply of natural gas to Brazil.... Continue Reading →
(Reuters) Guyana and the Dominican Republic are making progress on accords for offshore oil and gas exploration and to build a fertilizer plant and potentially a refinery in the South American country, Dominican President Luis Abinader said on Tuesday. The countries signed a memorandum of understanding in 2023 to work on energy projects. The Caribbean country is interested in exploring Guyana's... Continue Reading →
(Reuters) A consortium led by U.S. major Exxon Mobil plans to produce up to 180,000 barrels per day (bpd) of oil and 95 million cubic feet per day (mmcfd) of gas at its seventh project in Guyana, Hammerhead, according to a document published by the country's environmental agency on Monday. The Exxon group, in which... Continue Reading →
(Reuters) The government of Trinidad and Tobago and Woodside Energy have reached an initial agreement on the commercial terms for developing the company's Calypso deepwater gas discoveries, moving the project one step closer to a final investment decision, according to a Woodside executive and three people with knowledge of the talks. The Caribbean country, Latin... Continue Reading →
(Reuters) - Trinidad and Tobago, the largest producer of liquefied natural gas in Latin America and the Caribbean, is seeing an increase in government revenue from LNG exports by selling cargoes at between 15% and 55% above Henry Hub prices, energy minister Stuart Young said on Monday. The increase follows a contract revamp in late... Continue Reading →
(Reuters) Guyana's government plans to issue two licenses this year for oil and gas projects, one for Exxon Mobil's seventh development in the country, Hammerhead, and one for the nation's first natural gas development, Energy Minister Vickram Bharrat told Parliament on Friday. The gas license is conditional on a green light to Exxon and Fulcrum... Continue Reading →
(Reuters) Trinidad and Tobago on Tuesday offered 26 offshore oil and gas blocks in its largest-ever auction of areas for deepwater exploration and production, according to an official notice. The twin-island Caribbean country, Latin America's largest exporter of liquefied natural gas (LNG), is pushing producers, especially those offshore, to accelerate natural gas output in order... Continue Reading →
(Reuters) - TotalEnergies said its fourth-quarter results would benefit from a slight pickup in refining margins, increased production and stronger gas trading and power sales, signalling a potential turnaround at the end of a year marked by low oil prices and refined products demand. The world's top oil and gas companies have watched their profits decline... Continue Reading →
(offshore-energy.biz) Despite the challenges hitting the fossil fuel industry, demand for hydrocarbons remains steady, as confirmed by the global engineering, procurement, and construction (EPC) contracting activity across the offshore oil and gas landscape. The batch of new projects, which are expected to reach the EPC stage this year, will lead to awards worth billions of... Continue Reading →
(Reuters) - Argentina's government has green lit a key $500 million private sector gas pipeline expansion project, the energy secretariat said on Monday, a key signal of state support to boost transport capacity as it ramps up domestic energy production. The project, proposed by major private local operator Transportadora de Gas del Sur (TGS), would... Continue Reading →
Brazil Energy Insight 