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Equinor said it will return an additional $3 billion to shareholders after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago, making Norway the continent's largest supplier of piped... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) said on Tuesday it has made two new oil discoveries offshore Guyana and that it has already exceeded its original year-end daily production target for the South American country. The announcements are part of Exxon's efforts to accelerate production in Guyana and to invest in long-term megaprojects that offer lower costs... Continue Reading →
(Reuters) - The United States became the top liquefied natural gas (LNG) exporter in the first half of 2022, the Energy Information Administration (EIA) said, citing data from CEDIGAZ, as the country increased supply to Europe amid the Ukraine crisis. U.S. LNG exports rose 12% to average 11.2 billion cubic feet per day (bcfd) in... Continue Reading →
(Reuters) - Guyana's government expects that an upcoming auction for oil and gas blocks will attract new companies to its energy industry, President Irfaan Ali said on Monday, following years of domination by U.S. giant Exxon Mobil (XOM.N) and its partners. As part of his first official trip to Washington, Ali expects to hold talks with U.S.... Continue Reading →
Norwegian shipowner Siem Offshore said it has secured contract extensions for two of its platform supply vessels (PSV) working for TotalEnergies offshore Brazil. Total E&P do Brazil has declared the first of two options for the PSVs Siem Atlas and Siem Giant, and both vessels are now firm until June 2023. Siem Atlas and Siem... Continue Reading →
(Reuters) - Brazilian chemical maker Unigel on Monday announced plans to build a green hydrogen plant in the northeastern state of Bahia, with an initial investment of $120 million and the goal of making it one of the largest of its kind in the world. The plant is expected to start operations by the end... Continue Reading →
(Reuters) - Portuguese oil and gas company Galp Energia (GALP.LS) reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin. Rapid recovery in demand after pandemic lockdowns and a surge in energy prices driven by Russia's invasion of Ukraine have boosted profits for oil companies... Continue Reading →
French energy giant TotalEnergies has kicked off production from a field tied back to existing facilities located offshore Nigeria. Back in 2018, the Nigerian media disclosed that Total (now TotalEnergies) had been preparing to make the FID of the Ikike project. A year later, reports started circulating that the oil major was working on sanctioning the development of... Continue Reading →
Mexican national oil and gas company Pemex has taken over the ownership and operation of the FPSO operating on the second largest offshore oil complex in Mexico from Norway’s FPSO operator BW Offshore. BW Offshore revealed on Sunday that Pemex has assumed the ownership and operation of the FPSO Yúum K’ak’náab – known as El Señor del Mar (The Lord of the Sea) – with effect... Continue Reading →
Offshore drilling contractor Valaris has revealed that one of its drillships has started its new assignment offshore Brazil with the country’s state-owned giant, Petrobras. Back in October 2021, Valaris won a deal for the stacked drillship Valaris DS-4 with Petrobras for operations offshore Brazil. The contract was for a minimum term of 548 days. At the time, the Valaris DS-4 rig... Continue Reading →
Brazil Energy Insight 