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From a colossal wind farm floating amid choppy ocean waves to hundreds of solar panels on the surface of a dammed reservoir, Portugal is exploring innovative ways to boost renewable energy. Mass use of such projects may still be too pricey, but trailblazers like Portugal stand to benefit when costs ease. Bathed in sunshine all... Continue Reading →
Oslo-listed oil and gas company BW Energy, responding to press speculation, said Monday it had not made any formal decision to buy any of Brazil-based Petrobras' assets. BW Energy said it had noted the press speculation regarding the possibility of BW Energy acquiring the Golfinho field in Brazil, which Petrobras has put up for sale.... Continue Reading →
(Reuters) - Global oil demand is expected to peak before 2030, earlier than previously projected, TotalEnergies (TTEF.PA) forecast on Monday. The French oil major - which had previously forecast the peak happening around 2030, rather than before - said its business was now working on the assumption that global consumption would start declining before the end of... Continue Reading →
(OE) Top African oil exporters Nigeria and Angola will struggle to boost output to their OPEC quota levels until at least next year as underinvestment and nagging maintenance problems continue to hobble output, sources at their respective oil firms warn. Their battle mirrors that of several other members of the OPEC+ group who curbed production... Continue Reading →
China's state-run offshore oil and gas major CNOOC Ltd said it plans to raise up to 35 billion yuan ($5.41 billion) in a new share issue on the Shanghai stock exchange to fund several key oil and gas projects. The domestic fund-raising plan came as U.S. sanctions on CNOOC has forced global investors to exit... Continue Reading →
Fugro has completed a geohazard site investigation programme for TotalEnergies off the north-west coast of Paramaribo in Block 58 of the Guyana-Suriname Basin. The project involved the acquisition and analysis of geophysical data and geotechnical soil samples approximately 150 kilometres offshore in water depths ranging from 60 metres to 2,100 metres. Fugro carried out the... Continue Reading →
Harbour Energy will exit its exploration license interests in the Ceará basin off northeast Brazil and in the Burgos basin offshore Mexico. The company, formed last year from the merger between Chrysaor and Premier Oil, said its exploration strategy was to focus mainly on infrastructure-led, lower risk opportunities in areas where the company already has a producing... Continue Reading →
(PetroleoHoje) PetroRio defined the contracting of the drilling service for the Frade and Wahoo projects, in the Campos Basin. The start of the campaign is scheduled for the first quarter of 2022. Instead of the original proposal to close a single package, the oil company opted to split the process into three different businesses, hiring... Continue Reading →
Italian oil and gas company Eni has started production from the Cabaça North development project, in Block 15/06 of the Angolan deep offshore, via the Armada Olombendo FPSO. The Cabaça North development, with an expected peak production rate in the range of 15 kbopd, will increase and sustain the plateau of the Armada Olombendo. The... Continue Reading →
Following the spud in August 2021, the Kawa-1 exploration well, located offshore Guyana, is on track to reach total depth in the first half of December 2021. So far, the well results are consistent with pre-drill geological and geophysical expectations. The Kawa-1 well is located on the Corentyne Block where CGX Energy is the operator... Continue Reading →
Brazil Energy Insight 