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U.S. classification and technical advisory services provider ABS has launched a new notation and new guidance amid the COVID-19 pandemic to help marine and offshore operators reduce transmission of disease. The ABS Guide for Mitigation of Infectious Disease Transmission On Board Marine and Offshore Assets, an industry first, discusses how the physical arrangement of a... Continue Reading →
(Reuters) - Oil traders rushed to unwind a bevy of bearish bets after Pfizer announced promising results for its COVID-19 vaccine, shaking up energy markets that were primed for demand to sink into the winter on increased lockdowns and rising coronavirus infections. Crude prices plunged this year as global demand was crushed due to travel... Continue Reading →
Joe Biden could erase much of President Donald Trump’s four-year legacy of energy and climate deregulation with the stroke of his pen, according to regulatory experts, but replacing it with something new and durable may prove trickier. Trump’s rollbacks are on shaky ground because most were done not through Congressional lawmaking but via presidential executive... Continue Reading →
(Reuters) - Citi Research on Monday cut its 2021 oil price forecasts after a larger-than-expected rise in COVID-19 cases, but said tighter supply from OPEC and its allies would still lead to a gradual uptick in prices next year. Citi cut its 2021 Brent and West Texas Intermediate crude price outlook by $5 to $54... Continue Reading →
Norwegian firms Aker Solutions and Kvaerner have received the necessary approvals from governmental bodies for the completion of the earlier announced merger. In June this year, the two companies entered into a merger plan to create an optimised supplier company. The merger means that Aker Solutions takes over all Kvaerner’s assets, rights and obligations. As... Continue Reading →
Oil futures prices have started to signal OPEC+ may have to do more to offset a second wave of coronavirus and a renewed economic slowdown. Between mid-September and mid-October, Brent’s six-month calendar spread had been tightening, a signal traders expected production to run below consumption and inventories to fall. Over the last ten days, however,... Continue Reading →
Looking at different energy visions of the two U.S. presidential candidates, Rystad Energy believes that if Trump should win it may make oil prices great again while Biden effect is more mixed. The U.S. presidential election of 2020 comes amid a pandemic that has ravaged energy markets and the two main candidates have very divergent... Continue Reading →
Rio de Janeiro, October 30, 2020 - Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on September 17, 2020, informs the beginning of the binding phase regarding the sale of all its shares in the wholly-owned subsidiary Araucária Nitrogenados S.A. (ANSA). Potential buyers qualified for this phase will receive instructions on... Continue Reading →
A new study by Westwood Global Energy Group shows that 11 billion barrels of oil and 36 billion barrels of oil equivalent (boe) gas in 119 discoveries >100 million boe in size made between 2008 and 2016 is currently stalled with no progression towards development. This oil and gas, potentially, worth more than $65 bn... Continue Reading →
The third quarter of 2020 ended with a financial loss for Petrobras. The company announced losses of R$ 1.546 billion between July and September. This is the third quarter followed of recorded losses for the oil company. For the first quarter of 2020 the company recorded losses of R$ 48.5 billion, between April and June... Continue Reading →
Brazil Energy Insight 