Joint venture partners in the Corentyne block offshore Guyana – Frontera Energy and CGX Energy – have concluded collaborative discussions with the Government of Guyana concerning the rescheduling of the work commitments on the block. Frontera said on Friday that the joint venture was committed to completing its exploratory commitments in full, despite operational activities... Continue Reading →
Petrobras on news in the press re Gaspetro
Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, regarding the divestment of Petrobras Gás S.A. (Gaspetro), clarifies that the company Compass Gás Energia S.A. (Compass) was not qualified for the continuation of the divestment process of 51% in Gaspetro's capital stock. This is a natural development in divestment... Continue Reading →
Booming Offshore Wind Market Faces Shortage of Installation Vessels
Offshore wind is expanding rapidly, and as turbine and project sizes grow, demand for specialized installation vessels will soar, Rystad Energy said Thursday, however, warning that the boom might lead to a shortage of offshore wind installation vessels. "The market for vessels capable of installing large offshore wind components is quickly being outpaced by growing... Continue Reading →
Petronas Posts 3Q Loss. Warns of Tough 4Q
Malaysian state-owned energy giant Petronas warned on Friday that the remainder of the year would remain tough due to prolonged low oil prices and moderate demand recovery hampered by the coronavirus, as it recorded a third-quarter loss. "Amid the fluid operating environment brought about by the pandemic as well as prolonged volatility of oil prices,... Continue Reading →
ESPÍRITO SANTO TAKES THE FIRST STEP TO HAVE ITS MODULAR REFINERY WITH PRIVATE INVESTMENT
The companies EnP, Oil Group and Porto Central, today signed (26) a memorandum of intent to develop the project of a Refinery in Espírito Santo. The event was held in Vitória, with the presence of Governor Renato Casa Grande. RefinES is being studied to be implemented in the Porto Central area, a port industrial complex... Continue Reading →
‘Largest Ever’ Offshore Wind Financial Close Reached for World’s Largest Offshore Wind Farm
Equinor and SSE have announced a financial close on the first two phases of the world's largest offshore wind farm project - the Dogger Bank in the UK North Sea. Dogger Bank wind farm is a joint venture between SSE Renewables, who are leading the construction of the offshore wind farm, and Equinor, who will operate... Continue Reading →
Repsol reveals new strategic plan to accelerate energy transition
Spanish oil company Repsol has unveiled its 2021 – 2025 strategic plan which will advance its net-zero emissions objective. Repsol said on Thursday that the new strategy would be highly flexible concerning the macroeconomic environment and that it would be set in motion at a time of historic difficulty to which the company already responded with its... Continue Reading →
Brazil: Petrobras Taps Shearwater Geo for Deepwater OBN Survey
Seismic contractor Shearwater GeoServices has been awarded a large Ocean Bottom Node 4D Baseline survey in Brazil with the Brazilian national oil company Petrobras. The deepwater OBN survey will be carried out at the Jubarte Field in the Campos Basin. The 810 sq. km survey will start in the first half of 2021 and be... Continue Reading →
Petrobras approves Strategic Plan 2021-2025
Petrobras informs that its Board of Directors approved, in a meeting held today, the Strategic Plan for the five-year period 2021-2025 (SP 2021-25). The plan maintains the 5 pillars that support the implementation of the company's set of strategies: (i) Maximization of the return on capital employed; (ii) Reduction of the cost of capital; (iii)... Continue Reading →
Offshore wind energy potential in Brazil attracts Equinor and Neoenergia
Brazil's potential for power generation with wind farms installed at sea, a technology that is on the rise in the world but still unprecedented in the country, entered the radar of government technicians and companies such as the Norwegian oil company Equinor and the electric company Neoenergia, of the group Spanish Iberdrola. The state-owned Energy... Continue Reading →
