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Aug 17 (Reuters) - The U.S. diesel crack, a key measure of refining profitability, hit an all-time high of $102.20 a barrel on Monday as global supply disruptions from the wars in Iran and Ukraine run into peak agricultural consumption season. Measured as the premium of U.S. diesel futures over U.S. West Texas Intermediate crude oil futures , the... Continue Reading →
Aug 13 (Reuters) - The Brazilian government has opened a process that could result in the adoption of reciprocal measures against the United States in response to tariffs recently imposed by Washington on the country's goods, it said in a Thursday statement. The U.S. government announced tariffs of 25% last month on some Brazilian goods, alleging unfair... Continue Reading →
Aug. 14 (splash247.com) As shipowners place their first investments in ethanol-fuelled ships, engine technology is well prepared for growing uptake of the biofuel, writes Andrea Lazzaro, head of business intelligence at WinGD. When one of the world’s biggest dry bulk charterers backs a new alternative fuel type, the industry takes notice. But to anyone paying... Continue Reading →
Aug. 13 (Estadao) Seatrium, a marine engineering multinational expanding its global offshore wind operations, sees Brazil as a market ripe for development and hopes to leverage its local infrastructure to manufacture substations and vessels dedicated to the sector. However, the company is making any planning contingent on the maturation of the legal framework. It has... Continue Reading →
Aug. 13 (oilprice.com) Over the past couple of years, Colombia’s clean energy transition has shifted into overdrive under President Gustavo Petro’s "Just Energy Transition" agenda, with the country pivoting away from fossil fuels towards wind and solar energy. Petro, Colombia’s first ever left-wing president, instituted a strict ban on signing new oil, gas and coal exploration contracts... Continue Reading →
Aug 13 (Reuters) - Danish offshore wind farm developer Orsted reported on Thursday a second-quarter core profit above forecast and maintained its financial outlook for the year. Orsted expanded rapidly over the past decade, but more recently faced higher costs from supply chain disruption and inflation, and faces regulatory challenges in the United States, where President... Continue Reading →
Aug. 12 (oilnow.gy) Guyana’s expanding oil production is helping create more work for tanker owners as growing volumes of crude from the Americas are shipped to buyers farther east, according to S&P Global. The trend is part of a wider increase in Western Hemisphere crude supply from Guyana, the United States, Brazil and Argentina. More of those... Continue Reading →
Aug. 9 (oilprice.com) To accelerate the global green transition, several energy companies are developing more durable and efficient renewable energy equipment, such as wind turbines and solar panels. This has been hugely successful in recent decades, with the creation of larger, stronger wind turbines and more efficient, resilient solar panels. As companies continue to improve... Continue Reading →
Aug. 7 (offshoreWIND.biz) RWE and the US Department of the Interior (DOI) have reached a settlement agreement under which RWE will relinquish its offshore wind leases in the New York Bight and off the coasts of California and Louisiana in exchange for USD 1.22 billion (around EUR 1.06 billion) in settlement funds. The agreement resolves... Continue Reading →
Aug 5 (Reuters) - India's top explorer, Oil and Natural Gas Corp (ONGC), hopes to soon sign agreements with Venezuela to operate two oil blocks under the South American nation's new petroleum law, its finance chief said on Wednesday. State-run ONGC, through its overseas investment arm ONGC Videsh, holds a 40% stake in the San... Continue Reading →
Brazil Energy Insight 