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Australian player Karoon Energy has offloaded its first shipment of over 500,000 barrels of oil from its newly acquired Baúna production field, offshore Brazil. Karoon said on Thursday that the shipment comprised of oil produced by the FPSO Cidade de Itajaí, operated by the Altera&Ocyan joint venture, in the period since the company completed its acquisition... Continue Reading →
Australian oil and gas firm BHP has awarded a contract to McDermott to carry out the preliminary Front-End Engineering Design (preFEED) extension phase for a Floating Production Unit (FPU) that could be installed at its Trion field offshore Mexico. The FPU would be installed in a water depth of around 8,200 feet (2,500 meters) at... Continue Reading →
The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the Covid-19 pandemic and the accelerating energy transition – unless exploration speeds up significantly and capital expenditure of at least $3 trillion is put to the task, a report by Rystad... Continue Reading →
E-commerce and cloud computing giant Amazon has signed a 10-year corporate power purchase agreement with offshore wind firm Ørsted. In what has been described as Europe's largest ever offshore wind power purchase deal, Amazon has committed to offtake the output of 250MW from Ørsted's planned 900MW Borkum Riffgrund 3 offshore wind farm in Germany. Borkum... Continue Reading →
French oil major Total has awarded a maintenance contract to energy storage equipment manufacturer and service provider Norco Group for its offshore assets in Angola. Norco Group will support Uninterruptible Power Supply (UPS) systems and standby battery equipment on Total's Angola’s assets in offshore Block 17. This includes the Dalia, Girassol, Pazflor, and CLOV FPSO... Continue Reading →
London-listed oil and gas company Kosmos Energy has partially completed the previously announced sale of its frontier offshore oil and gas exploration assets to Shell, with the South Africa transaction expected to complete in 2021. Under the agreement first announced in September, Shell agreed to buy Kosmos' interests in Suriname, Sao Tome & Principe and... Continue Reading →
(Reuters) - Mexico’s government is weighing making further reductions to the tax burden on national oil company Petroleos Mexicanos (Pemex) to bring it closer to that of ordinary corporations, a top finance ministry official said on Wednesday. Lower taxes could mark a turning point for ailing Pemex, the country’s largest company and tax payer. Pemex... Continue Reading →
(Reuters) - French oil major Total has acquired a 16.6% stake in a liquefied natural gas (LNG) project in northern Mexico undertaken by U.S. firm Sempra Energy and its local unit Infraestructura Energetica Nova (IEnova), Sempra said on Wednesday. The $2 billion Energia Costa Azul (ECA) LNG facility by the port of Ensenada is one... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 03/09/2020, informs that it has concluded today the sale of 100% of its stakes in four onshore fields, located in the Tucano Basin, in the countryside of the state of Bahia, to Eagle Exploração de Óleo e Gás Ltda (Eagle). After fulfilling all... Continue Reading →
Italian oil and gas giant Eni and oilfield services provider Saipem are entering into a collaboration for decarbonization projects in Italy in a push to reduce carbon intensity and achieve CO2 reduction targets. Eni’s CEO, Claudio Descalzi, and Saipem’s CEO, Stefano Cao, on Wednesday signed a Memorandum of Understanding (MoU) to cooperate on the identification and engineering... Continue Reading →
