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Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, hit by the coronavirus crisis, recovering. Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday, pledged to comply better with oil cuts, sources said. This... Continue Reading →
The transition to renewable power from traditional fuels will create a $16 trillion investment opportunity through 2030 as spending shifts to new infrastructure, Goldman Sachs analysts said Tuesday. The bank projects green-energy spending to pass that of oil and gas for the first time ever next year and account for roughly 25% of all energy spending. The... Continue Reading →
The Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result, reducing the world’s recoverable oil by around 282 billion barrels, Rystad Energy said in its annual global energy outlook released this week. Per Rystad, a Norway-based energy intelligence firm, global total expected remaining... Continue Reading →
June 17, 2020 Petróleo Brasileiro S.A. – Petrobras, regarding to the news published in the media, referring to the sale of its stake in BR Distribuidora S.A. (BR), clarifies that, according to the press released on 01/16/2020, has been studying a possible additional sale of its stake in BR. However, there is still no deliberation... Continue Reading →
June 10, 2020 Petróleo Brasileiro S.A. – Petrobras, in reference to the press released on 06/01/2020, regarding the sale of a part of its interest in the exploratory blocks belonging to the ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11 concessions, located in the Espírito Santo Basin, hereby discloses to the interested parties that the deadline for... Continue Reading →
The worldwide offshore rig count in May 2020 dropped by 54 rigs year-over-year and 37 rigs sequentially, according to a report by Baker Hughes. Baker Hughes splits its report into an international and North America one, which combine into a worldwide rig count. Continue reading
May 29, 2020 The oil and gas market is having to deal with a new reality: cost reduction. With this in mind, Dutch SBM Offshore changed the way of contracting FPSO hulls from bilateral agreements to competitive bids. In the market, the comment is that the decision is a strategy to reduce spending on the... Continue Reading →
Allseas' giant Pioneering Spirit offshore construction and decommissioning vessel last week provided a stage for what is believed to be the Netherlands’ first drone to vessel delivery. Mobilizing in Rotterdam’s Alexiahaven for upcoming platform removal projects, the 382 meters long, 124 meters wide vessel last week received a special aerial package containing spare parts. Continue... Continue Reading →
May 25, 2020 The BNDES is proposing a discussion on business models that make the investment in infrastructure for the disposal of natural gas produced in the pre-salt possible, and one of the ideas is the development of an intermediate market for operators of the routes that connect the offshore fields to the market, on... Continue Reading →
The White House on Sunday said it was restricting travel from Brazil to the United States, two days after the South American nation became the world’s No. 2 hotspot for coronavirus cases. The travel ban was a blow to right-wing Brazilian President Jair Bolsonaro, who has followed the example of U.S. President Donald Trump in... Continue Reading →
Brazil Energy Insight 