Natural gas production in 2021 set a record, having reached an average production of 134 MMm3/d (millions of cubic meters per day), a growth of 5% compared to the previous year, when the average was 127 MMm3/d. The average oil production was 2.905 MMbbl/d (million barrels per day), a decrease of 1.18% compared to the... Continue Reading →
Nigerian oil production vessel explodes
(Reuters) - An oil production vessel exploded off the coast of Nigeria early on Wednesday with 10 crew members on board though it was not yet clear if there were any casualties or how much crude might have spilled into the sea. Nigeria's Shebah Exploration & Production Company Ltd (SEPCOL) said in a statement on... Continue Reading →
Shell ends 2021 on high note
(Reuters) - Shell (SHEL.L) again boosted its dividend and share repurchases on Thursday after fourth quarter profits hit their highest in eight years, fuelled by higher oil and gas prices and strong gas trading performance. The strong results cap a year of dramatic recovery for Shell and the oil and gas sector after energy demand and prices... Continue Reading →
Demand for Vessels Capable of Installing Giant Offshore Wind Turbines to Outpace Supply by 2024 – Rystad Long Read
Offshore wind turbine makers have been working to build increasingly bigger turbines, and the likes of GE, Siemens Gamesa, Vestas, and MingYang have in the past two years or so unveiled designs for giant 14-16MW rated units.It has been said that larger turbines, while more expensive per unit, reduce the overall cost of large-scale offshore wind... Continue Reading →
Omni to Provide Air Support to Shell in E&P Production Projects in the Campos Basin
(PN) Omni Táxi Aéreo was contracted by Shell in two tenders to support the oil company's production and exploration operations in different fields located in the Campos Basin. In the Parque das Conchas, Bijupira and Salema fields, Omni will provide the air taxi service with AW139 model aircraft, with a maximum takeoff weight of 7... Continue Reading →
With 70 pct of Brazilian FPSO market already covered, Wilson Sons preparing for rise in demand
Brazil’s port and maritime logistics operator Wilson Sons is anticipating an increase in the FPSO demand and has already cornered the Brazilian market by serving 70 per cent of the chartered FPSOs in the country. The company explained on Tuesday that the estimates of the oil and gas sector indicate growth, with new FPSO units... Continue Reading →
Saipem Loses Its Footing on Path to Green Energy
Italy's Saipem risks becoming a casualty of the transition to cleaner energy after a shock profit warning left leading shareholders scrambling to shore up the finances of the energy services company. The Saipem board met on Tuesday to discuss the situation, a source close to the matter told Reuters, after shares in the company at one... Continue Reading →
Petrobras on receiving the last installment of the sale of block BM-S-8 from Equinor
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 11/22/2016, 03/21/2018 and 12/09/2021, informs that it received today from Equinor Brasil Energia Ltda. (Equinor) the amount of US$ 475 million, equivalent to half of the third installment related to the sale of its stake in the exploratory block BM-S-8, where is located... Continue Reading →
3R Petroleum Change on Equity Interest
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), in compliance with provisions of article 12 of CVM Resolution No. 44, communicates to its shareholders, investors and the market in general that received, on this date, notification from Starboard Asset LTDA. (“Starboard” or “Manager”), manager of 3R Petroleum Fundo de Investimento em Participações Multiestratégia (“FIP... Continue Reading →
Brazil’s Starboard selling 18 mln shares in 3R Petroleum – report
(Reuters) - Brazilian private equity firm Starboard Partners is selling 18 million shares in oil company 3R Petroleum Oleo e Gas (RRRP3.SA) in a blocktrade, local newspaper Valor Economico reported on Tuesday, citing unnamed sources. Starboard, which has a 21% stake in 3R Petroleum, did not immediately respond to Reuters queries about the report. 3R shares were... Continue Reading →
Brazil Energy Insight 