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(Reuters) - State-owned oil producer Saudi Aramco (2222.SE) on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is at par with Apple Inc (AAPL.O) as the world's most valuable company, reported a net income of $39.5 billion for the quarter to March 31 from... Continue Reading →
French oil major TotalEnergies said Monday it had launched a worldwide drone-based emissions detection and quantification campaign across all its upstream oil & gas operated sites, to identify, quantify, and reduce methane emissions linked to its operations. The campaign uses AUSEA technology developed by TotalEnergies, the French National Research Center for Scientific Research (CNRS) and University of... Continue Reading →
Ørsted and TotalEnergies said Friday they would jointly submit bids for the two Dutch offshore wind tenders “Holland Coast West” also known as Hollandse Kust (west). The Holland Coast West wind farms will be located approximately 53 km off the Dutch coast and have a combined capacity of nearly 1.5 gigawatts (GW). Rasmus Errboe, Head... Continue Reading →
SBM Offshore said in a first quarter trading update that the hull for the ‘ONE GUYANA’ floating production, storage, and offloading (FPSO) vessel has already been delivered. ‘One Guyana’ will deliver biggest daily production for new oil nation It is a Fast4Ward® multi-purpose floater (MPF) hull, under SBM Offshore’s industry leading Fast4Ward® program. “Engineering and... Continue Reading →
(ON) As commercial discoveries continue to increase offshore Guyana, more projects will come online, generating an unprecedented inflow of revenue to the new oil producing South American country, which Norway-based Rystad Energy said could top US$130 billion. “If all discoveries were to be developed, you`re looking at, in the next 20 years, over $130 billion... Continue Reading →
(PN)French company TotalEnergies notified the National Petroleum Agency (ANP) that it found evidence of oil and gas in block C-M-541, in well 1-TOT-2-RJS, in a water depth of 3,000 meters, in the Campos Basin. The drilling of the well Marolo-1 began at the end of last year. The activity was carried out by the Valaris... Continue Reading →
(Reuters) - Brazil's antitrust watchdog CADE said on Friday that the sale of state-run oil company Petrobras' (PETR4.SA) Reman refinery to fuel distributor Atem was approved with no restrictions. Brazil's antitrust watchdog CADE has approved the sale of state-run oil company Petrobras' (PETR4.SA) Reman refinery to Atem, two sources familiar with the matter said on Thursday. Petroleo Brasileiro SA,... Continue Reading →
Namibia on Thursday launched a sovereign wealth fund, months after oil discoveries by TotalEnergies and Shell off its coast. President Hage Geingob said at the launch the Welwitschia Fund would get an initial injection of 262 million Namibian dollars ($16.15 million) and invest 2.5% of its portfolio locally to bridge the country's infrastructure financing gap.... Continue Reading →
Highlights Year-to-date Directional1 revenue of US$970 million, in line with expectationFull year 2022 Revenue and EBITDA guidance maintainedCash dividend of US$1 per ordinary share paid, 13% year-on-year increase and representing c. 7% yield2FPSO Liza Unity delivered on time and on budgetFPSO ONE GUYANA award confirmed, to be added to the backlog Financial Overview YTD Directional in... Continue Reading →
Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) by the late 2030s, equivalent to about 75 per cent of the expected amount of gas produced by Russia in 2022, according to research by Rystad Energy. In early March, the European Union announced it aims to reduce its dependence on... Continue Reading →
Brazil Energy Insight 