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Even as the U.S. economy makes the switch over coming decades to renewable energy like wind and solar, the nation needs to ensure its fossil fuel industry stays healthy, a top U.S. central banker said on Friday. "The challenge for the country will be to transition, but it's going to also be critical for the... Continue Reading →
Equinor and bp have completed their previously announced transaction including bp’s $1.1 billion purchase from Equinor of a 50% interest in two major lease areas off the US East Coast. The transaction is the first step in a strategic partnership between the two energy companies to team up for offshore wind projects in the U.S.... Continue Reading →
The president of Petrobras, Roberto Castello Branco, said this Thursday that the state company should increase its exploratory activity over the next few years. According to the executive, the company will drill up to 58 wells by 2025. The number represents an increase of 50% in comparison with the five-year period from 2016 to 2020,... Continue Reading →
(Reuters) - Global oil demand is expected to rise by nearly 7% this year, boosted by quicker vaccine distribution and a better economic outlook, consultancy Wood Mackenzie said on Thursday. Total liquids demand is expected to average 96.7 million barrels per day (bpd) in 2021, 6.3 million bpd higher than last year when the Covid-19... Continue Reading →
Inpex Corp, Japan's biggest oil and gas producer, said on Wednesday it is targeting net-zero carbon emissions by 2050 through the expansion of renewable and hydrogen energy as well as the use of carbon capture technology. The move comes after Japanese Prime Minister Yoshihide Suga pledged to make Japan carbon-neutral by 2050 and with global... Continue Reading →
(Bloomberg) --Total has had the fastest start in the race between oil supermajors to achieve net-zero carbon emissions. Europe’s three largest oil and gas companies -- Total, BP and Royal Dutch Shell -- all announced plans last year to eliminate most greenhouse gas emissions from their operations and the fuels they sell in the coming... Continue Reading →
French oil major Total has withdraw from the U.S. oil and gas industry association American Petroleum Institute (API), over the differing climate positions, as well as over API's support for candidates who oppose Paris Agreement. " Following a detailed analysis of the climate positions of the American Petroleum Institute (API), Total announces its decision not... Continue Reading →
Oceaneering’s Subsea Robotics segment has won multiple contracts during the fourth quarter of 2020, with anticipated aggregate revenue in excess of $225 million. These contracts are with international oil and gas operators and marine construction companies, and range in duration from several months to five years. The work scopes are primarily for remotely operated vehicle (ROV)... Continue Reading →
Floating Power Plant (FPP) and partners Lundin Energy Norway, NOV-APL, Semco Maritime, Cefront Technologies and Aalborg University have completed a project aimed at using floating wind and wave power to support an offshore oil and gas facility. According to FPP, the project shows that using renewable energy can help the oil and gas industry reduce... Continue Reading →
Aggregate fossil fuel demand is set to peak in 2027 – with oil peaking in 2029 and gas in 2037 – partially due to the impacts of COVID-19, according to new research by leading global consultancy, McKinsey & Company. The Global Energy Perspective 2021 report finds that while coal demand peaked already, peaks in demand... Continue Reading →
Brazil Energy Insight 