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(OE) Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers. The oil industry has been gripped by acute risk aversion in the finance and shipping sectors after several... Continue Reading →
(Reuters) - The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the situation said, as it attempts to settle claims ahead of a U.S. sanction deadline for other entities to stop dealings with it. The United States sanctioned Nord Stream... Continue Reading →
(PN) The Brazilian Institute for the Environment (Ibama) granted the preliminary license for the production storage and offloading platform (FSO) in the Pargo field, in the Campos Basin. In addition to the vessel, the license also attests to the environmental feasibility of the new 8″ PPG-1A export pipeline. French-British Perenco has been responsible, since October... Continue Reading →
(Bloomberg) -- After watching big banks curtail lending and asset managers pare bets, fossil fuel producers are now losing access to some of Wall Street’s deepest pockets. Blackstone Inc., once a major player in shale patches, is telling clients its private equity arm will no longer invest in the exploration and production of oil and... Continue Reading →
Petrobras posted an excellent operational performance in 2021, reaching all production targets for the year with the achievement of the following marks: The highlights for 2021 were: FPSO Carioca production start-up, on August 23, the first platform in Sépia field, in Santos Basin pre-salt. Throughout the year, 3 new producing wells were connected and currently... Continue Reading →
(TN) Porto do Açu and Gás Natural Açu (GNA) announced the realization of R$ 6 billion of investments in infrastructure and energy in Porto do Açu, located in the northern region of Rio de Janeiro. Investments include works to expand road access to the port, the construction of a rail branch and the laying of... Continue Reading →
(OE) Peru Environment Minister Ruben Ramirez said on Monday the government will temporarily suspend Repsol's offshore oil unloading operations following a spill of over 10,000 barrels that has caused widespread environmental damage. Ramirez said the suspension of operations would last until the company "can offer technical guarantees that another spill will not happen." "In addition,... Continue Reading →
(WO) The Uganda National Oil Company plans to sign a final investment decision on Feb. 1 for a large oil field and pipeline project, taking a definitive step toward becoming a crude exporter. TotalEnergies SE and Cnooc Ltd., along with the East African country’s state oil company, are developing projects expected to reach an output... Continue Reading →
(Reuters) - Ecuador's privately held heavy crude pipeline burst on Friday and technical staff are at the scene working to contain the damage, crude transport company OCP Ecuador said. The incident happened in the so-called Piedra Fina zone, an area in Ecuador's Amazon where regressive erosion caused the OCP pipeline and the state-owned SOTE pipeline... Continue Reading →
(Reuters) - Ecuador's oil output has almost fully recovered after pipeline maintenance to repair erosion in the Andean country's Amazon region caused production to dwindle to less than 100,000 barrels per day (bpd), the energy ministry said. The erosion, a naturally occurring phenomenon along the Coca River, forced a halt to pumping in the SOTE... Continue Reading →
Brazil Energy Insight 