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(Reuters) - Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil Corp (XOM.N) said on Monday, with the world failing to keep global temperature increases below 2 degrees Celsius. The largest U.S. oil producer projects the world will reach 25 billion metric tons of energy related... Continue Reading →
(Reuters) The U.S. Gulf Coast region, the nation's primary offshore source of oil and gas, has cheap electricity and lacks state mandates for renewable energy procurement, making it an unlikely place to expand one of the most expensive forms of clean energy. That is why players in the nascent U.S. offshore wind industry are looking... Continue Reading →
(Reuters) Global oil major BP said the world must invest in the production of oil and gas to avoid sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions.Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost... Continue Reading →
(PN) China National Offshore Oil Corporation (CNOOC) signed an agreement for two research projects on renewable energies offshore, with funding of R$ 16 million. With a duration of three years, the research will have the participation of more than thirty people, from four different Coppe laboratories, who will work in several areas, including hydrodynamics, aerodynamics,... Continue Reading →
(OE) Petrobras CEO Jean Paul Prates participated in the CEO Oil and Gas Governors Meeting in Geneva this week and highlighted that it is crucial to raise people's awareness of the essential contribution of oil to the economy. The event was coordinated by the World Economic Forum, and the meeting addressed two main themes: energy... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) is looking at the possibility of restarting exploration at eight suspended oil and gas contracts, chief executive Ricardo Roa said on Wednesday. The government of leftist President Gustavo Petro has prioritized weaning Colombia off of its dependence on oil and coal, major sources of income for the country,... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) expects to continue to produce oil for the next four decades, while also boosting investments in renewables as it seeks to drive an energy transition, an executive said on Tuesday. Joelson Mendes, the firm's Chief Exploration and Production Officer, said at an event hosted by Santander that Petrobras understands... Continue Reading →
(OE) The U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) on Tuesday approved the construction of a 704-megawatt (MW) wind farm off the coast of Rhode Island, the fourth major offshore wind project the agency has greenlit as the Biden administration tries to meet a goal of bringing 30 gigawatts (GW) of... Continue Reading →
(Reuters) Colombia needs to rebuild trust between communities, businesses and the government to successfully execute its energy transition, Minister of Mines and Energy Andres Camacho told journalists on Thursday. Camacho, an electrical engineer who previously worked in the ministry as an adviser, was officially appointed by leftist President Gustavo Petro earlier this month. Camacho faces... Continue Reading →
(Reuters) There is no contradiction between defending an ecological transition and new oil exploration fronts, the chief of staff for Brazil President Luiz Inacio Lula da Silva said on Wednesday, as state-run giant Petrobras seeks clearance to drill a well at the mouth of the Amazon River. "It's in the name - it is an... Continue Reading →
Brazil Energy Insight 