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(OP) Latin America’s largest economy Brazil is experiencing a massive offshore energy boom which has seen the country overtake Venezuela and Mexico in little over a decade to become the region’s largest oil producer. This is driven by pre-salt petroleum discoveries in offshore Brazil, with the first being made by national oil company Petrobras in the Santos... Continue Reading →
(Reuters) - The global offshore wind industry had a record year in 2021 in terms of new capacity but is still projected to fall short of the International Energy Agency's net zero goals by 2030, a Global Wind Energy Council (GWEC) report said on Wednesday. More giant offshore turbines were installed in 2021 than in... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), in compliance with provisions of article 12 of CVM Resolution No. 44, communicates to its investors and the market in general that received on June 27, 2022, notice from GERVAL INVESTIMENTOS LTDA. (“GERVAL” or “Manager”) informing about the change in the equity interest of its funds... Continue Reading →
(OE) Uruguay's ANCAP has awarded three of the six available offshore blocks on its continental shelf to Shell and Apache, following bids received in the most recent ANCAP 2022 Open Bidding Round. Shell won the rights to the shallow-water block OFF-2 and deepwater Block OFF-7. Apache won the rights to the Block OFF-6. The award... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 06/23/2022, informs that it signed today with BW Energy Maromba do Brasil Ltda (BWE), the contracts for the sale of its total stake in the maritime concessions groups named Golfinho Cluster and Camarupim Cluster, in the post-salt deep waters, located in the Espírito... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44 and the Novo Mercado Regulation, informs its investors and the market in general that the Board of Directors, at a meeting held on June 22, 2022, decided on the organizational restructuring of the Company,... Continue Reading →
Brazil’s state-owned oil and gas giant Petrobras has approved the sale of two assets, located in the Espírito Santo Basin offshore Brazil, to BW Energy, an Oslo Stock Exchange-listed oil and gas E&P company. Earlier this month, Petrobras announced that the divestment process of the maritime concession called Golfinho cluster was still in the binding phase, adding that BW Energy was... Continue Reading →
(Reuters) - Brazil's antitrust watchdog on Wednesday approved the sale of state-run oil firm Petrobras' (PETR4.SA) 51% stake in gas company Gaspetro with no restrictions. Petrobras is selling the stake to Compass, which is controlled by energy company Cosan (CSAN3.SA), for 2.03 billion reais ($394.15 million), according to a statement from Compass when the deal was announced last... Continue Reading →
(Reuters) - Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since mid-March, fuel costs have surged while crude prices are up only modestly. Much of... Continue Reading →
(Reuters) - Mexico's hydrocarbon regulator is investigating state oil company Petroleos Mexicanos (Pemex) over suspected excessive natural gas flaring and other violations at another giant field, according to two sources with direct knowledge of the matter. In 2019, Pemex, which is under international pressure to clean up its operating practices, hailed the Quesqui field in... Continue Reading →
Brazil Energy Insight 