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(Reuters) Last December, when a week-old hedge fund named Engine No. 1 challenged Exxon Mobil to change its ways, laughter echoed through Wall Street circles, from the fund’s name that recalled a famous children’s book to its tiny, then-$40 million stake in what was once the world’s largest publicly traded company. Just six months later,... Continue Reading →
The Nigerian National Petroleum Corp renewed Oil Mining Lease 118 [Bonga] with the local subsidiaries of Shell, Total, Exxon, and Eni for another 20 years, the West African country’s state oil firm said in a statement on Tuesday. The deal signals the end of “long-standing disputes over the interpretation of the fiscal terms of the... Continue Reading →
(OE) A Dutch court on Wednesday ordered Royal Dutch Shell to significantly deepen its planned greenhouse gas emission cuts, in a landmark ruling that could pave the way for legal action against energy firms around the world. At a courtroom in The Hague, judge Larisa Alwin read out a ruling which ordered Shell to reduce... Continue Reading →
Australia’s Karoon Energy has received a dispute notice from a partner in its operated Block Z-38, offshore Peru, due to an alleged breach of obligations related to the drilling of a second exploration well on the block. Karoon’s wholly-owned subsidiary, KEI (Peru Z‐38) Sucursal del Peru, owns a 40 per cent operating equity interest in... Continue Reading →
Consulting organisation Crondall Energy has been awarded a technical consultant role on the SBM Offshore-owned Liza Unity FPSO destined for ExxonMobil’s project off Guyana. Crondall said on Tuesday it would be supporting MUFG Bank Ltd (MUFG) as lenders’ technical consultant for the Liza Unity FPSO project financing. MUFG is acting as a technical bank on... Continue Reading →
The exploratory activity in the Campos Basin gained new impetus. Petrobras started drilling the well 1-BRSA-1380D-RJS, in a water depth of 2,849 meters, in block C-M-346. The area was purchased in 2018, in the 14th Bidding Round. As a reminder, this block was the star of that bid for having received the highest bid in... Continue Reading →
(Reuters) A stark appeal by the world's top energy body to stop investment in new fossil fuel projects by next year has met a mixed reception from the world's top producers - from guarded praise and pledges to cut back on coal to outright defiance. The International Energy Agency said in its "Net Zero by... Continue Reading →
(epbr) Production at Pão de Açúcar, discovered at BM-C-33, pre-salt in the Campos Basin and operated by Equinor Brasil (35%), will have an unprecedented natural gas treatment system installed on the topside of the production platform itself. It was the solution found to deal with the great potential for natural gas production associated with the... Continue Reading →
(Reuters) Chinese state-controlled oil giant Sinopec, said it expects to launch its first green hydrogen project, a zero-carbon fuel generated from renewable energy sources, in the Inner Mongolia region in 2022. The company, China's largest hydrogen producer, also said it will focus on fossil fuel-based hydrogen output over the next five years and set up... Continue Reading →
(WO) Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). The transaction will transfer Shell’s interest in... Continue Reading →
Brazil Energy Insight 