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(Reuters) - Shell said on Thursday it diverted $7 billion of its cash flows partly to cover hefty oil and gas margin calls, becoming the first company to publicly acknowledge the pressure commodities traders have faced in 2022 from extreme price rises and volatility. Shell, together with other majors, utility companies, trading houses and banks,... Continue Reading →
(Reuters) Japan's Mitsubishi Corp and Shell aim to produce 400,000 tonnes of "green hydrogen" in 2030 through the companies' European offshore wind power project, the Yomiuri newspaper reported on Thursday. Dutch renewable energy firm Eneco, owned by Mitsubishi and Japan's Chubu Electric Power Co, has decided to invest 10% in a joint venture that includes... Continue Reading →
ANP data show that oil production is taking place in 124 producing fields ceded by Petrobras to other companies, as of 2019, as part of the divestment process carried out by the company. In the period between 2012 and 2020. Before the divestments, production from these fields fell by approximately 60%, reaching 57,700 barrels of... Continue Reading →
(Reuters) - Shell (SHEL.L) will write down up to $5 billion following its decision to exit Russia, more than previously disclosed, while soaring oil and gas prices boosted trading activities in the first quarter, the company said on Thursday. The post-tax impairments of between $4 billion and $5 billion in the first quarter will not impact the... Continue Reading →
The major will proceed with Yellowtail, its largest Guyanese project to date (PE) ExxonMobil has taken FID on the Yellowtail development offshore Guyana, following government and regulatory approvals. The major expects Yellowtail, its fourth development in the prolific Stabroek block, to produce around 250,000bl/d starting in 2025. Yellowtail has an estimated recoverable resource of 900mn... Continue Reading →
(Reuters) - Portugal's Galp Energia (GALP.LS), a partner in an Exxon Mobil-led (XOM.N) gas consortium in Mozambique, said on Thursday it hoped to start building onshore plants in the southern African country in 2024, but only if security has been guaranteed first. Mozambique has been grappling with militants linked to the Islamic State in its northern-most province of... Continue Reading →
Offshore drilling contractor Valaris has secured new contracts and extensions, with an associated contract backlog of $181 million. A notable update from the rig owner relates to a drillship contract in the Gulf of Mexico, which has now been novated from TotalEnergies to Equinor. Valaris informed on Wednesday that it has secured two-year contract extensions... Continue Reading →
(OE) Norwegian energy company Equinor has partnered up with Naturgy, with the two firms entering a development agreement prior to Spain’s first upcoming offshore wind auction off the coast of the Canary Islands. The Spanish government plans to develop up to 3 GW of offshore wind by 2030. The first Spanish offshore wind auction is... Continue Reading →
Brazilian shipping company Grupo CBO has inked new deals for three platform supply vessels (PSVs) with the Brazilian subsidiary of Norway’s state-owned giant Equinor. Brazil’s offshore vessel operator CBO informed on Tuesday that it has signed contracts with Equinor for three PSVs 4500 with a duration of three years plus two additional one-year options for further extension. The... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3) communicates its shareholders, investors and the market in general the result of the reserves certification of the fields that together form the Potiguar Cluster. The reserves report was prepared by the independent consultancy DeGolyer and MacNaughton, with a base date of December 31, 2021,... Continue Reading →
Brazil Energy Insight 