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CABIMAS, Venezuela — For the first time in a century, there are no rigs searching for oil in Venezuela. Wells that once tapped the world’s largest crude reserves are abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns. Refineries that once processed oil for export are rusting hulks,... Continue Reading →
The conclusion of the operation by which Petrobras PETR4.SA negotiated the sale of its Liquigás liquefied petroleum gas distribution unit to a group formed by Copagaz, Itaúsa and other companies will depend on an agreement with the Brazilian regulatory agency CADE. As published in the Official Gazette, the General Superintendence of the Administrative Council for... Continue Reading →
Total has bought a 20 per cent stake in the EolMed floating wind pilot project in France, located in the Mediterranean Sea, off the coast of Gruissan and near Port-La-Nouvelle. The 30 MW EolMed will feature three MHI Vestas 10 MW turbines installed on Ideol’s Damping Pool floating foundation and is scheduled to be built in 2023.... Continue Reading →
Oil and gas workers withdrew en masse from offshore production facilities as Hurricane Delta grew into a powerful storm over the Caribbean on its way to the Gulf of Mexico. Delta's winds reached 145 miles per hour (235 kph) as the storm sped toward Mexico's Yucatan peninsula and eventual entry into the Gulf of Mexico,... Continue Reading →
Engie appointed executive Catherine MacGregor as the new CEO of the oil and gas sector as of January 1, 2021. The appointment comes eight months after the removal of Isabelle Kocher. MacGregor, 48, is French and currently runs Technip Energies, after having spent 23 years in the oil services group of the also French group... Continue Reading →
UK oil and gas company Premier Oil has reached an agreement with Harbour’s UK operating company Chrysaor regarding a proposed all-share merger between Premier and Chrysaor and the reorganisation of Premier’s existing debt and cross-currency swaps. According to Premier’s statement on Tuesday, the deal will create the largest independent oil and gas company listed on... Continue Reading →
Oil and gas company Hess Corporation has entered into an agreement to sell its 28 per cent working interest in the Shenzi field in the deepwater Gulf of Mexico to BHP to fund a project in Guyana. Hess said on Monday it is selling its stake to BHP, the field’s operator, for a total consideration... Continue Reading →
Brazil's oil production is expected to reach 3.5 million barrels per day by the end of 2022, compared to 3.3 million bpd in early 2020, Goldman Sachs analysts projected in a report on Sunday, which already considers effects recent review of the Petrobras project portfolio. "In general, we are raising our production expectations for the... Continue Reading →
U.S. oil giant Exxon Mobil said on Monday it plans to reduce its European workforce by up to 1,600 across the company's affiliates by the end of 2021 as part of its global review. Exxon said country-specific cuts will depend on the oil major's local business footprint and market conditions, after the COVID-19 pandemic hammered... Continue Reading →
MEXICO CITY (Reuters) - Mexico’s government presented an almost $14 billion infrastructure investment plan on Monday as President Andres Manuel Lopez Obrador seeks to repair rocky relations with business leaders and lift the struggling economy. The package, mostly privately financed, is the first clear sign of corporate bosses’ readiness to invest under Lopez Obrador since... Continue Reading →
Brazil Energy Insight 