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Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), in addition to the Material Fact of April 28, 2022, informs shareholders and the market in general that it has received the waiver of the preemptive rights from Repsol Sinopec Brasil (“RSB”) in the Albacora Leste Field (“Albacora Leste” or “Field"). The closing of the deal is... Continue Reading →
Colombian energy producer Ecopetrol ECO.CN aims to boost its oil and gas output by just over 40% to around 1 million barrels of oil equivalent per day (boepd) in 2030 and plans to start a pilot carbon capture storage (CCS) project, a senior company executive said. The projects are part of Ecopetrol's plan to ramp... Continue Reading →
E&P company BW Energy is still on track for the first oil from its Hibiscus/Ruche development off Gabon later this year despite delays caused by Covid-19 and the war in Ukraine. However, there is still an increased risk of delays due to price inflation on services and materials. BW Energy is currently executing the Hibiscus/Ruche development project,... Continue Reading →
AET, a Singapore-based petroleum logistics unit of Malaysian energy logistics group MISC Berhad, has brought in the third and final Suezmax second-generation dynamic positioning (DP2) shuttle tanker, purpose-built for a long-term charter with Shell in Brazil. AET informed on Friday that it took delivery of Eagle Colombo, its latest second-generation DPST, from Hyundai Heavy Industries (HHI) on... Continue Reading →
FPSO supplier BW Offshore said Thursday that Shell had awarded it limited notice to proceed (LNTP) by Shell and its partners for early-stage engineering and supplier reservations for the supply of an FPSO for the Gato do Mato (Wild Cat) oil and gas field offshore Brazil. The LNTP is valued up to USD 50 million.... Continue Reading →
The FPSO Atlanta, contracted by the Brazilian oil company Enauta to Malaysia's Yinson for conversion to service the Atlanta Field offshore Brazil, will be operated under ABS Class. The Atlanta, which will serve as the Definity Production System at the Atlanta Field in the Santos Basin, offshore Brazil, is being converted in Dubai Drydocks World,... Continue Reading →
(Reuters) Rental rates for offshore oil and gas rigs have rocketed higher, boosted by a race to lift production because of the war in Ukraine and a recovery in demand after the COVID-19 pandemic. Drilling companies are in a stronger position to demand higher dayrates for their equipment after several lean years that led to... Continue Reading →
(OE) Oil and gas company Trident Energy said Thursday it had completed its first Brazilian subsea campaign to connect the MA-34 production well to the P-08 semi-sub platform, as part of its plans to enhance production on its Pampo field. "Trident Energy set to relocate two existing flowlines from our old MA-1 X-tree (one production... Continue Reading →
(Reuters) Chile state development office Corfo signed agreements with three companies on Thursday to fund industrial green hydrogen production, which it says could double current production worldwide. The move would boost economic development and help with energy transition and meeting the challenge of decarbonization, Corfo's executive vice president Jose Miguel Benavente said in a statement.... Continue Reading →
Amid ever-increasing calls to phase out fossil fuels and pivot toward clean energy sources, oil and gas exploration activities remained resilient in 2021 undeterred by the accelerating energy transition, reveals Westwood Global Energy, an energy market research and consultancy firm, in its latest report. Westwood informed on Thursday within its latest analysis that high-impact oil... Continue Reading →
Brazil Energy Insight 