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(Reuters) West-Africa focused Tullow Oil reported a 2022 free-cash flow of $267 million on Wednesday, up from $245 million the previous year and in line with forecasts, supported by increased equity in its Ghana operations and higher oil prices. It plans to invest $400 million this year, mainly on its flagship fields in Ghana, expecting free cash flow to... Continue Reading →
(OM) The growth in investment in renewable energy projects continues in 2023, according to a recent Rystad Energy report. There has been significant growth in offshore wind, with over 45 GW of capacity launched globally in 2022. As many countries ramp up efforts to meet self-imposed 2030 targets for installations, 2023 is expected to be... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, and in addition to the material fact disclosed on February 28, 2023, informs its investors and the market in general that the root cause of the unit shutdown was solved, and the 3R-2 unit's... Continue Reading →
(Bloomberg) Guyana is planning another auction of prospective oil-field leases next year as the world’s fastest-growing economy seeks to maintain the pace of development, Vice President Bharrat Jagdeo said. The country’s first auction is expected to take place by the end of May after being delayed by a few weeks as the government finalizes contract terms and legislation... Continue Reading →
(Reuters) The U.S. government is not planning a systematic easing of sanctions on Venezuela after an initial round allowed partners of state-run oil firm PDVSA to resume taking oil for past debts, a State Department official said. In November, Washington issued a six-month license allowing Chevron Corp. to expand operations and export Venezuelan oil to... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) will focus on financing large-scale renewable energy projects and evaluating new partnerships with energy companies in the coming years, its chief executive said in remarks released on Tuesday. CEO Jean Paul Prates made the comments a day after the company announced it was evaluating seven offshore wind power projects along the... Continue Reading →
Australia's Woodside Energy is on track to make a final investment decision this year on the Trion offshore oil project, which would inaugurate production in the deep waters of the country's Gulf of Mexico. [BHP Petroleum, now part of Woodside] partnered in 2017 with state-oil company Pemex, which discovered Trion's reserves five years earlier. The deal... Continue Reading →
(Reuters) Negotiations for the construction of a $30 billion liquefied natural gas (LNG) terminal between Tanzania, Norway's Equinor and Britain's Shell are complete and contract preparations are underway, Tanzania's energy ministry said. The development of Tanzania's vast offshore gas resources has been held up for years due to regulatory delays. Last June, all three parties... Continue Reading →
Danish offshore support vessel owner Maersk Supply Services has secured three-year contracts for three of its L-class anchor handlers with Petrobras in Brazil. Petrobras will use the vessels for a broad scope of anchor handling activities and offshore drilling rig movements. Maersk Leader, Maersk Launcher, and Maersk Lancer have been delivered in Brazil. This now... Continue Reading →
(Reuters) - BP hasn't fallen out of love with renewables. It just wants to have more power. CEO Bernard Looney's pursuit of green energy outstripped all rivals three years ago when he outlined a radical blueprint to move away from fossil fuels. Last month he applied the brakes, slowing BP's planned cuts in oil and... Continue Reading →
Brazil Energy Insight 