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With passage of the Inflation Reduction Act, which contains US$370 billion for climate and energy programs, policy experts are forecasting a big expansion in clean electricity generation. One source that’s poised for growth is offshore wind power. Today the U.S. has just two operating offshore wind farms, off of Rhode Island and North Carolina, with a combined generating... Continue Reading →
(Reuters) Norway's Aker Energy said on Wednesday it would postpone submission of a development plan for its Pecan oilfield off Ghana amid concern the project could face sanctions over the war in Ukraine due to the involvement of Russian oil firm Lukoil. Aker Energy, controlled by Aker ASA, owns 50% in the deepwater block off... Continue Reading →
(U) The Brazilian National Petroleum Agency (ANP) has set a date for 16 December to receive proposals in the country’s first auction featuring pre-salt acreage under the so-called permanent offer initiative. In a meeting held on 16 August, the regulator has approved the calendar for the upcoming bid round. According to the proposed timeline, companies... Continue Reading →
- Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of 40% of its interest in the BM-POT-17 exploratory concessions, in which the Discovery Assessment Plan for the Pitu well is being developed (Blocks POT-M-853 and POT-M-855), and the POT-M-762_R15 concession (Block POT-M-762), located in deep... Continue Reading →
(Reuters) - Brazil's central bank chief on Monday defended policymakers' focus on 12-month inflation through March 2024 over the 2023 year-end rate due to one-off tax changes, contributing to signals that the bank may be done raising interest rates. Central Bank President Roberto Campos Neto said the slightly longer horizon improved policymaking, as tax breaks... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(Reuters) - Venezuela has suspended new crude shipments to Europe under an oil-for-debt deal and has asked Italy's Eni and Spain's Repsol to provide it with fuel in exchange for future cargoes, three people familiar with the matter said. Venezuela's oil company PDVSA no longer is interested in the oil-for-debt deals that the U.S. State... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of potassium salts located in the Amazon Basin. The teaser, which contains the main information about the opportunity, as well as the eligibility criteria for the selection of... Continue Reading →
(OEM) The American Petroleum Institute (API), a trade association representing the oil and gas industry, believes ramping up domestic production and turning to U.S.-made energy is the answer to the global supply and demand imbalance hitting Americans at the pump and impacting the broader economy. The American Petroleum Institute claims that energy demand is outstripping supply... Continue Reading →
(Reuters) California on Wednesday set ambitious new targets for offshore wind development, saying turbines along its storied coastline would power some 25 million homes by 2050. In a unanimous vote, the five-member California Energy Commission (CEC) adopted a goal of 3,000 to 5,000 megawatts (MW) of offshore wind by 2030 and 25,000 MW by 2045, the agency... Continue Reading →
