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(oilprice.com) Lower oil prices and production volumes failed to offset rising natural gas prices and output at Equinor, which reported on Thursday lower-than-expected adjusted operating income, its key earnings metric, for the third quarter. The Norwegian energy giant booked an adjusted operating income of $6.89 billion for Q3, down by 13% compared to the same period of... Continue Reading →
As of November, executive Olivier Bahabanian will become the new president of the company in the country, in addition to also assuming the position of general director of the company for the Exploration and Production business. He will replace Charles Fernandes, who has held these two positions since 2021. Olivier has almost 20 years of... Continue Reading →
(Reuters) - Saipem is about to start work on deep water drilling in Namibia for Portugal's Galp Energia , the chief executive of the Italian energy contractor said on Thursday. In early 2024 Galp carried out tests at its Mopane-1X and Mopane-2X wells and estimated in April that the Mopane field could hold at least 10 billion barrels of... Continue Reading →
By Alex Kimani (oilprice.com) Over the past two decades, the shale revolution largely pushed aside interest in the exploration and development of offshore hydrocarbons. The combination of hydraulic fracturing and horizontal drilling enabled the United States to significantly increase its production of oil and natural gas from tight oil formations, with the Shale Patch accounting for 36% of... Continue Reading →
BRAVA ENERGIA (“BRAVA”) (B3: BRAV3) (“Company”), pursuant the provisions of CVM Resolution No. 44, hereby informs its investors and the market in general about updates on Papa-Terra and Atlanta fields: I. Papa-Terra On October 18, 2024, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) authorized, by means of an Official Letter, the Company's... Continue Reading →
(Reuters) French oil major TotalEnergies (TTEF.PA), opens new tab has agreed to sell a network of about 240 retail fuelling stations plus ethanol and oil products storage facilities in Brazil to a subsidiary of Grupo Argenta, the company said on Friday. The amount of the transaction was not announced. TotalEnergies will keep its lubricants blending and distribution... Continue Reading →
(Reuters) - Oilfield services firm SLB's third-quarter profit rose 13% and beat analysts' estimates on Friday on steady demand for its equipment and technology in international market and from offshore projects in North America. However, the company warned of limited spending by international producers in a weak oil price environment. SLB, which gets 81% of its... Continue Reading →
(Reuters) - BP is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by CEO Murray Auchincloss to scale back the energy company's focus on renewables. The company has faced pressure from shareholders over its energy transition strategy, first launched in 2020, as renewables profit... Continue Reading →
(PN) The FPSO market saw a 50% increase in investments — from US$6 billion to US$9 billion — related to the surface capital of new projects in 2023, a trend that is expected to continue in 2024. The data was presented this week by Rystad Energy. This growth is largely concentrated in South America, especially... Continue Reading →
(Reuters) - Energy firms TotalEnergies, Qatar Energy, Petronas , Cybele Energy, Delcorp and International Group Investment have reached agreements with Guyana over terms of production sharing deals to explore five oil and gas offshore blocks, the energy ministry said on Wednesday. A tender launched in 2022 for areas in shallow and deep waters led to... Continue Reading →
Brazil Energy Insight 