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(Reuters) - Mexican state oil company Pemex reported a $6.05 billion fourth-quarter net loss on Monday, driven by highertaxes and currency exchange losses despite more oil output, with the firm set to require further big cash infusions from the government. Pemex (PEMX.UL), which has long struggled to stay in the black, managed to turn a... Continue Reading →
Oil and gas company Kosmos expects to spend approximately $700 million in capital expenditures in 2022. The company will spend around $400 million of the budget in relation to its base business in Ghana, Equatorial Guinea, and Gulf of Mexico. Around $300 million is set to be spent in relation to its assets in Mauritania... Continue Reading →
(ON) The extent of the development projects offshore Guyana within such a short space of time since the first oil discovery in 2015 is being viewed as ‘unbelievable’ by Norway-based energy research and business intelligence company, Rystad Energy. Now, the South American country, unknown on the oil map just seven years ago, is on track... Continue Reading →
(PN) The Brazilian Institute for the Environment (Ibama) granted the preliminary license for the production storage and offloading platform (FSO) in the Pargo field, in the Campos Basin. In addition to the vessel, the license also attests to the environmental feasibility of the new 8″ PPG-1A export pipeline. French-British Perenco has been responsible, since October... Continue Reading →
(ON) The unprecedented oil and gas discoveries unfolding in the Guyana-Suriname basin are of historic proportions and make the region stand out as one of the most exciting hot spots the industry has seen in decades. “The Liza-1 well will be equated with the 1-RJS-628 well in terms of discovering a major petroleum province in... Continue Reading →
(Offshore Energy) Brazilian oil and gas company Enauta has decided to exercise its option to extend the contracting of a drilling rig chosen for operations on its Atlanta field, located offshore Brazil, adding two additional wells to the scope of work covered by the original contract. Back in January 2022, Enauta entered into a time... Continue Reading →
(OE) French oil major TotalEnergies has won a bid to build three gigawatts (GW) of offshore wind power capacity on the New Jersey coast in the United States. The company said the $795 million deal is for the 341 sq km New York Bight concession, which is located up to 87 km from the coasts... Continue Reading →
(Reuters) - International energy major BP has opted to leave Russia after Western countries imposed severe sanctions on its companies and individuals following Moscow's military attack on Ukraine. read more BP, the biggest foreign investor in Russia, said it was abandoning its stake in state oil company Rosneft (ROSN.MM) at a cost of up to $25 billion, shrinking... Continue Reading →
(Reuters) - Exxon Mobil (XOM.N) likely will face new pressure to severe ties with Russia's largest oil producer, said analysts, after rival BP agreed to unload a Rosneft stake. Russia's attack on Ukraine has unleashed broad economic and political rebukes and corporate withdrawals by banks, technology and other firms unprecedented in their extent. BP on Sunday said... Continue Reading →
Norwegian energy group Equinor (EQNR.OL) said on Monday it will start the process of divesting from its joint ventures in Russia amid Moscow's invasion of Ukraine. Equinor is the second major European oil and gas producer, after energy major BP , to announce its exit from Russia as Western countries ramp up efforts to punish Russia with... Continue Reading →
Brazil Energy Insight 