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Empire Offshore Wind, a joint venture between Equinor and BP, has awarded Edison Chouest Offshore (ECO) a long-term service operations vessel charter. The vessel will service the Empire Wind offshore wind farm project located 15-30 miles southeast of Long Island. Edison Chouest Offshore's plug-in hybrid service operations vessel (SOV) will be the first in the... Continue Reading →
(Reuters) - The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March. The IEA, after warning on March 16 that 3 million barrels per day (bpd) could be... Continue Reading →
(Reuters) - Oil major BP (BP.L) has submitted bids to develop two offshore wind power leases in the Netherlands, it said on Thursday, as the company increases its focus on renewable energy. BP has bid in the tender process for two wind farm sites at the Hollandse Kust (West) zone, located 53 kilometres off the Netherlands' west... Continue Reading →
(Reuters) - France-based TotalEnergies and U.S. power company Duke Energy Corp (DUK.N) each won offshore wind leases in federal waters off the coast of North and South Carolina on Wednesday, the Interior Department said in a statement. The auction generated $315 million in winning bids, split between Duke at $155 million and TotalEnergies at $160 million. It... Continue Reading →
(Reuters) - Colombia will prioritize signing contracts for oil and gas blocks with companies making greater strides to cut carbon emissions, a government official said on Wednesday, adding the country needs to assign an average of 10 blocks a year to maintain fuel self-sufficiency. Colombia's oil and gas industry is a major source of income... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) said it will activate a contingency financing plan to avoid investment being affected while it waits for the government to pay 14.1 trillion pesos ($3.45 billion) it owes to the company. The debt the government owes to Ecopetrol (ECO.CN) corresponds to The Fund for Stabilization of Fuel Prices (FEPC), which... Continue Reading →
(Reuters) - Angola's crude oil production is forecast at an average of 1.14 million barrels per day (bpd) this year, down from 2021 production of 1.2 million bpd, but the country aims to fulfil its commitments to OPEC+, the oil minister said on Wednesday. "OPEC is still for us a very important forum and we... Continue Reading →
Japan's biggest oil and gas explorer Inpex Corp raised its net profit forecast for 2022 by 20% to a record 300 billion yen ($2.3 billion) thanks to higher-than-expected oil prices and a lower yen against the U.S. dollar. Its annual net profit prediction was raised from its February estimate of 250 billion yen as the... Continue Reading →
(Reuters) - Norway unveiled plans on Wednesday for a major expansion in offshore wind energy by 2040, aiming to turn a country that has built its wealth on oil and gas into an exporter of renewable electricity. The centre-left government, which has come under fire from environmentalists for continuing to support the oil and gas... Continue Reading →
(Reuters) - U.S. oil and gas producer Occidental Petroleum Corp (OXY.N) beat Wall Street's earnings estimates and swung to a profit from a year-ago loss, buoyed by soaring oil prices. The Houston-based company is the latest oil producer to benefit from high commodity prices, despite lower production volumes. Fuel prices have jumped following sanctions on Russia over... Continue Reading →
Brazil Energy Insight 