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Siemens Energy said Friday it had won a contract with Malaysian MISC to deliver eight complete topside modules for an FPSO MISC is building for deployment in South America. According to Siemens Energy, its topside modules "will provide sustainable, efficient, and environmentally friendly power generation, transmission, and distribution, as well as gas processing and compression"... Continue Reading →
There has been much talk about natural gas as a transition fuel, primarily in helping to lower emissions and pollution by displacing coal in power generation, but also in complementing intermittent renewables, and targeting the (blue) hydrogen economy in the longer term. Forecasters of energy demand, such as the IEA, tend to project gas demand... Continue Reading →
(Reuters) - Mexico’s government will absorb regular debt payments this year for Petroleos Mexicanos (Pemex), as President Andres Manuel Lopez Obrador intensifies his efforts to prop up the heavily-indebted state-run oil company. Those so-called debt amortization payments will total over $6 billion in 2021, Chief Executive Officer Octavio Romero said Thursday at an event in... Continue Reading →
(BUSINESS WIRE)--Black & Veatch will undertake feasibility studies central to the development of the world’s largest green hydrogen plant. When operational, Enegix Energy’s Base One facility in Ceará, Brazil, will produce more than 600 million kilogrammes of green hydrogen annually. The highly ambitious new-build electrolysis facility will be powered entirely by renewable energy, initially 3.4... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras announces that it has approved, together with its partners Equinor and Repsol Sinopec Brasil, the development concept for block BM-C-33, operated by Equinor, located in the pre-salt layer of the Campos Basin, in the state of Rio de Janeiro. The block is about 200 km offshore and has water... Continue Reading →
3R Petroleum Oil and Gas recorded a loss of R$ 147.5 million in the fourth quarter of last year. With the result, the company recorded a total net loss of R$ 172.3 million in 2020. With regard to net revenue, the company recorded R$ 85.2 million in the fourth quarter, with a value of R$... Continue Reading →
Oil and gas company Tullow Oil has encountered good quality reservoir but only minor oil shows at its exploration well located offshore Suriname. Tullow started drilling operations at the Goliathberg-Voltzberg North prospect (GVN-1) located in Block 47 in late January 2021. Block 47 is part of the Suriname-Guyana Basin. The well was drilled using the Stena Forth drillship.... Continue Reading →
Norwegian offshore vessel owner DOF has won long-term contracts in the UK and Guyana for three of its platform supply vessels. In the UK, under the contract starting in April, the large PSV Skandi Gamma will work for Ithaca Energy for a period of two years firm. Ithaca will also have two one-year options to... Continue Reading →
In February 2021, Brazilian oil and natural gas production in the Pre-salt was approximately 2.6 million barrels of oil equivalent per day (boe / d). This volume represented 73.14% of the total in the country, the highest percentage of Pre-salt participation in national production ever recorded. Total Brazilian production was 3.55 million boe / d.... Continue Reading →
(Bloomberg) Vitol Group reaped record profits of around $3 billion last year as the world’s largest independent oil trader surfed the dramatic moves in energy markets, according to people familiar with the matter. The results are the latest indication of the bonanza that oil traders enjoyed in 2020, when the commodity plunged amid a Saudi-Russian price war in... Continue Reading →
Brazil Energy Insight 