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(Reuters) Chinese authorities have ordered a unit of state-run PetroChina to stop trading off crude oil import quotas with local refineries as part of a crackdown on excessive fuel production, a move that could cut the country's crude imports by 3%, sources said. Beijing has stepped up scrutiny of crude oil quota use and imports... Continue Reading →
(Reuters) Brazilian energy company Raizen, a joint venture between Royal Dutch Shell Plc (RDSa.L) and local group Cosan SA (CSAN3.SA), has agreed to acquire Shell's lubricant businesses in Brazil, including a blending plant and a terminal in the state of Rio de Janeiro. In a securities filing on Monday, Cosan said the agreement signifies "the acquisition of the... Continue Reading →
The Saipem Guyana Offshore Construction Facility, a new facility from Italy’s offshore contractor Saipem, has been inaugurated at the port of Georgetown in Guyana. Saipem and Guyana have been enjoying a fruitful interaction for the last four years, starting with the award of the ground-breaking Liza Phase 1 contract in 2017 by ExxonMobil. Since then, the company has... Continue Reading →
U.S. oil major ExxonMobil is resuming operations at the Canje Block offshore Guyana with the drilling of the billion-barrel prospect Jabillo-1, using the Stena Carron Drillship. The news was shared by Westmount Energy, a company that owns a stake in one of ExxonMobil's Canje block partners. Westmount Energy said Monday it was "pleased to note... Continue Reading →
Excelerate Energy’s floating storage and regasification unit (FSRU) the Exemplar has begun operations in Bahia Blanca, a port city located 400 miles south of the Argentine capital Buenos Aires. The Exemplar, with a storage capacity of 150,900 m3, will deliver liquefied natural gas (LNG) for the 2021 winter season in Argentina, providing reliability and stability... Continue Reading →
Australia’s Karoon has taken the Final Investment Decision to proceed with the development of the Patola project located offshore Brazil. Following the first production, expected in 2023, the project will more than double Karoon’s current production rates. The Patola field is located within the 100 per cent Karoon-owned and operated BM-S-40 Production Licence in the Santos Basin,... Continue Reading →
Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development. The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday. The development of the field located in the Santos Basin will cost around $8 billion.... Continue Reading →
Oil and gas company Karoon Energy has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the Maersk Drilling-owned semi-submersible rig Maersk Developer. The work is expected to start in the second half of 2022, in direct continuation of the rig’s previously... Continue Reading →
(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) today has been awarded its first integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract in Brazil by Karoon Energy (ASX:KAR) for the Patola field development. The contract covers engineering, procurement, construction and installation of subsea trees, flexible pipes and umbilicals. The project will take place at water depths of 300 meters... Continue Reading →
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in compliance with the terms of the Instruction No. 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general, in addition to the material fact published by the Company on May 27, 2021,... Continue Reading →
Brazil Energy Insight 