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The transaction to combine Mainstream Renewable Power and Aker Offshore Wind to form a renewable company with a 27 GW portfolio has closed. The deal was first announced on July 12. Aker Horizons entered into an agreement with Aker Mainstream Renewables, a holding company co-owned by Aker Horizons, Mitsui & Co., Ltd. and Irish minority shareholders,... Continue Reading →
(Reuters) The European Union is planning a five-fold increase in financial support to an African military mission in Mozambique, an internal EU document shows, as Islamist attacks threaten gas projects meant to reduce the EU's reliance on Russian energy. The energy squeeze due to the Ukraine war has added impetus to Europe's scramble for gas... Continue Reading →
Sweden-based Skanska, one of the country's largest construction firms, has signed a contract with the Virginia Port Authority to rebuild 72 acres of the Portsmouth Marine Terminal in Portsmouth, Virginia, USA. The project will redevelop approximately 72 acres of the 287-acre Portsmouth Marine Terminal for use as an offshore wind staging port which will improve... Continue Reading →
Brazilian oil and gas company PRIO, formerly known as PetroRio, has temporarily stopped production at a field, located within the Northern Campos Basin off the coast of Brazil. PRIO revealed on Monday that it has interrupted production at the Frade field due to an inert gas line. The initial estimates indicate that this interruption will last between 5 to... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore has been awarded a contract extension for one of its anchor handling tug and supply (AHTS) vessels in Norway and a new assignment for another one in Brazil. Solstad Offshore revealed on Tuesday that Equinor has declared an option to extend the contract for AHTS Normand Ferking for one more year, which will keep... Continue Reading →
State oil giant Saudi Aramco on Sunday reported its highest quarterly profit since the company went public in 2019, boosted by higher oil prices and refining margins. Aramco joins oil majors such as Exxon Mobil Corp and BP that have reported strong or record-breaking results in recent weeks after Western sanctions against major exporter Russia squeezed an already under-supplied global market... Continue Reading →
Oil major Shell has made a gas discovery in ultra-deep waters in the southern Colombian Caribbean, its partner, Colombia-based oil company Ecopetrol, said. The Gorgon-2 well is located 70 kilometers off the coast and was drilled at a water depth of around 2,400 meters, making it the deepest well drilled in Colombian waters. "The drilling of... Continue Reading →
(Reuters) - Venezuela has suspended new crude shipments to Europe under an oil-for-debt deal and has asked Italy's Eni and Spain's Repsol to provide it with fuel in exchange for future cargoes, three people familiar with the matter said. Venezuela's oil company PDVSA no longer is interested in the oil-for-debt deals that the U.S. State... Continue Reading →
(Reuters) - Mexico's state-oil company Pemex requested this week almost $6.5 billion in additional funding from the government to pay for works at the 'Dos Bocas' refinery this year, according to a document and two sources familiar with the matter. The additional funding is to cover works not initially included in the project's proposal, higher... Continue Reading →
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 July 2022 in the assets that the Company holds participation. (1) Macau Cluster had its production in May, June and July impacted by an... Continue Reading →
Brazil Energy Insight 