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The Oil and Gas Climate Initiative (OGCI), an initiative to tackle climate change and backed by 13 oil companies, has launched a new initiative to unlock large-scale investment in carbon capture, use and storage (CCUS). Dubbed a crucial tool to achieve net-zero emissions, OGCI’s CCUS KickStarter initiative is designed to help decarbonize multiple industrial hubs... Continue Reading →
September 20, 2019 The MME should announce by the beginning of next week the name of the new secretary of Oil, Natural Gas and Biofuels, who will occupy the vacancy left by Márcio Felix. Minister Bento Albuquerque evaluates a list of four candidates, with Bruno Eustáquio - deputy executive secretary of the portfolio - remaining... Continue Reading →
Brazilian state-run oil firm Petrobras has in the last five years battled an epic corruption probe, a crippling recession and unsteady crude prices. Now, Brazil’s most important company is facing yet another challenge: thieves are robbing millions of dollars worth of its fuel to sell on a thriving black market. Continue reading
September 20, 2019 Shell is already seeking markets to absorb the volumes of natural gas that the company will produce in the pre-salt future. According to the CEO of oil company in Brazil, André Araújo, there are opportunities in power generation and energy commercialization for large industrial customers. In an event promoted by Shell, the... Continue Reading →
McDermott International hired restructuring firm AlixPartners for strategic and operational advice as the company seeks to shore up its balance sheet, according to a person with knowledge of the matter. The Houston-based company’s stock plunged as much as 76% Wednesday -- trading was halted for volatility at least five times -- while its bonds dropped... Continue Reading →
McDermott International has received offers to sell its Lummus Technology business. The oilfield services company said the valuation of the tech business exceeded $2.5 billion. “Based on the receipt of these approaches, McDermott is exploring strategic alternatives to unlock the value of Lummus Technology while maintaining the strategic rationale of engineering, procurement and construction (EPC)... Continue Reading →
Sept 18, 2019 Wilson Sons Rebocadores and Wilson Sons Agência participated in the operation of departure of platform P-68 of Jurong Aracruz Shipyard, in Espírito Santo, to the fields of Berbigão and Sururu, in the Santos Basin pre-salt. The FPSO has a processing capacity of 150,000 barrels / day of oil and 6 million... Continue Reading →
Following a drone attack on the world’s largest oil processing facility owned by state-run Saudi Aramco, Rystad Energy, an energy intelligence group, has warned the market not to get too excited and remain cautious about the oil giant’s promise to quickly return to pre-attack production levels. The attack on Saudi Aramco’s Abqaiq and Khurais facilities... Continue Reading →
The oil markets were in turmoil on Monday after the weekend's attack on Saudi facilities, as refiners in top consumer Asia looked for alternative supplies, U.S. crude producers ramped up efforts to export crude and Saudi Arabia tried to secure refined products. Crude prices surged up to nearly 20% on Monday after Saudi Arabia, the... Continue Reading →
As war gives oil a jolt, BW Offshore — which earned revenues of $870 million in 2018 — is readying floating production storage and offloading vessel (FPSO) candidates for Brazil and the North Sea, just as its about-to-be-strengthened other half, BW Energy, prepares to “go public” in home market, Norway. Newly made Brazil operator, BW... Continue Reading →
Brazil Energy Insight 