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(Reuters) Norwegian energy giant Equinor is on track to almost double its share of its investment in renewable energy this year, despite walking away from expensive offshore wind deals, the chief executive said on Tuesday. Around 20% of company's gross investments in 2022 will be in renewable energy, CEO Anders Opedal told Reuters on the... Continue Reading →
U.S. oil major ExxonMobil has made a discovery at the Bavuca South-1 exploration well at the Block 15, offshore Angola. The well encountered 30 meters (98 feet) of high-quality, hydrocarbon-bearing sandstone. It is located approximately 365 kilometers northwest off the coast of Luanda and was drilled in 1,100 meters (3,608 feet) of water. ExxonMobil usied the... Continue Reading →
(Reuters) Colombian state oil company Ecopetrol on Tuesday reported its third-quarter net profit more than doubled to 9.51 trillion pesos ($1.90 billion), rising 150% from a year earlier, as production returned to levels not seen since before the coronavirus pandemic. The firm's revenues climbed 86% to 43.44 trillion pesos, while earnings before interest, taxes, depreciation... Continue Reading →
Pemex and its partners could take a final investment decision (FID) on the Zama oil project by the end of next year, according to Harbour Energy. The London-based independent is a partner in Block 7 in the Sureste Basin, which contains the main part of the Zama accumulation. In its latest result statement, Harbour said the block’s co-venturers are close... Continue Reading →
Energy industry engineering and maintenance services company Sparrows Group has secured a two-year contract to provide crane maintenance services onboard Tullow Oil’s FPSO Kwame Nkrumah at the Jubilee offshore oil field in Ghana. Sparrows will be responsible for the maintenance, performance, and reliability of the main deck cranes installed and in operation onboard the FPSO... Continue Reading →
(Reuters) - Leaders from poor countries criticized wealthy governments and oil companies for driving global warming, using their speeches on Tuesday at the COP27 climate summit in Egypt to demand that they pay up for damages being inflicting on their economies. Small island states already buffeted by increasingly violent ocean storms and sea-level rise called on oil... Continue Reading →
Brazilian oil company Enauta said Monday that production from its Atlanta offshore field in Brazil had been interrupted. "The initial assessment is that this is an operational problem on the surface. The current production of the field is 7,500 bbl/day," Enauta said. The Atlanta Field is operated by Enauta, which owns 100% of the asset.... Continue Reading →
FPSO operator BW Offshore has secured a short-term contract extension for a floating, production, storage, and offloading (FPSO) vessel operating in waters offshore Nigeria. BW Offshore disclosed last Friday that it has signed an agreement with Addax Petroleum Exploration (Nigeria) Limited for a six-month extension for the lease and operation of the FPSO Sendje Berge. Thanks to this,... Continue Reading →
(Reuters) In late 2016, to avoid racking up fines for burning too much natural gas, Mexico's state oil company Pemex struck a deal with the regulator to invest over $3 billion to fix its flaring problem at its most productive set of oil fields. But five years on, the little-publicized project has been abandoned, according... Continue Reading →
(Reuters) - Pampa Energía (PAMP.BA), the third largest gas producer in Argentina's Neuquén basin, will invest $550 million in 2023 to increase its unconventional production from the huge Vaca Muerta shale formation, the firm's president Marcelo Mindlin said. Vaca Muerta, the world's second largest shale gas reserve and fourth for shale oil, is crucial for Argentina... Continue Reading →
