(Reuters) Africa-focused Tullow Oil said on Wednesday it would stick to the current form of its plan all-share merger plan with Capricorn Energy CNE.L, shrugging off criticism from some Capricorn investors who say the deal undervalues the company. Capricorn's board supports the merger, but the group also said last week it was exploring alternative deals... Continue Reading →
The U.S. oil executive making a big bet on combating climate change
(Reuters) - The chief executive of a small U.S. oil company has jumped to the forefront of the energy industry's greenhouse gas reduction efforts, recruiting high-profile firms to his vision of striking it big by selling access to carbon storage developments. Tim Duncan, the founder of Talos Energy Inc (TALO.N), a decade-old offshore oil firm with... Continue Reading →
EXCLUSIVE Colombia’s Ecopetrol asks to suspend fracking contracts for 90 days
(Reuters) - Colombia's state-run oil company Ecopetrol (ECO.CN) has asked the oil regulator to suspend contracts for two fracking pilot projects for 90 days, the company and two sources told Reuters on Tuesday. The two projects - being developed in Santander province by Ecopetrol and U.S. oil major Exxon Mobil Corp (XOM.N) - have faced stiff resistance from environmental... Continue Reading →
Pemex Deepwater Gas Project Draws Rebuke from Mexico’s Regulator
(Reuters) Mexico's oil regulator and state company Pemex are at odds over how to develop a deepwater natural gas project, eight people close to the matter said, threatening to stall a $1.5 billion energy venture. Officials at regulator National Hydrocarbons Commission (CNH) have raised questions about whether Petroleos Mexicanos can shoulder the massive project, the... Continue Reading →
Prio Still Eyeing Petrobras Assets After Albacora Deal Collapse
Brazilian oil company Prio will continue to assess the purchase of some assets from state-owned Petrobras even after a deal for its Albacora offshore oilfield fell through, Prio's finance chief told Reuters on Tuesday. Petrobras has in recent years sold off dozens of oil fields, as well as refineries, pipelines, gas station chains and other... Continue Reading →
3R Petroleum August 22 Production Data
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for August 2022 in the assets that the Company holds participation. The Company is the operator of Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo... Continue Reading →
Evolving South American, Caribbean alliances can help alleviate the global energy conundrum
(OM) The global energy market continues to shift dynamically, from being oversupplied in 2020 to presently having a deficit, a trend which has been exacerbated by the ongoing Russian-Ukrainian conflict. Additionally, years of underinvestment in hydrocarbon projects has only amplified this deficit. The result: elevating the stature of nations with hydrocarbon reserves that can be... Continue Reading →
Commercialization deal signed for first-ever wireless underwater ROV
Swiss underwater robotics company Hydromea and Scotland’s remote technology specialist Air Control Entech (ACE) have entered into a service partnership agreement to commercialize what is said to be the world’s first wireless remotely operated underwater vehicle (ROV) for inspections at offshore floating platforms. Under the deal, ACE will promote and use Hydromea’s EXRAY wireless ROV... Continue Reading →
All Turbines Installed at France’s First Commercial Offshore Wind Farm
Jan De Nul has completed the installation of 80 sets of 6 MW wind turbine generators (WTG) at Saint-Nazaire, France's first commercial offshore wind farm. The company said Tuesday it had completed the project "significantly ahead of schedule." The first turbine was installed back in April using Jan De Nul's Vole au Vent jack-up vessel. On September... Continue Reading →
Petronas hails Suriname oil discovery
US operator Apache has discovered light oil with its Baja-1 wildcat in deep-water Block 53 offshore Suriname and is working to firm up the potential of the resource. The US independent and partners Petronas of Malaysia and Spain’s Cepsa drilled the Baja-1 exploration well to a total depth of 5290 metres from a water depth... Continue Reading →
Brazil Energy Insight 