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(Reuters) - Shell reported on Thursday third-quarter profits of $6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results. The results, together with a drop in debt and strong cash flow, could lift investor confidence in CEO Wael Sawan's efforts to boost... Continue Reading →
(Reuters) - U.S. energy giant Exxon Mobil (XOM.N), opens new tab agreed on the terms and conditions to sell its oil and gas assets in Argentina's Vaca Muerta formation to Pluspetrol, a source at Exxon Mobil said on Wednesday. Exxon will sell five blocks in Argentina's western Neuquen province, home to Vaca Muerta, and its stake in... Continue Reading →
(PN) Recently, Petrobras began drilling a new well in the Buzios Field, in a water depth of 1,939 meters, using the Carolina drillship. The information was made available by the National Petroleum Agency (ANP). The new well was given the technical name 9-BUZ-99D-RJS. The nomenclature beginning with the number 9 indicates that this is a... Continue Reading →
The FPSO Marechal Duque de Caxias (Mero 3) began producing oil and gas this Wednesday, October 30, in the Mero field, Libra block, in the pre-salt layer of the Santos Basin. The unit has the capacity to produce up to 180 thousand barrels of oil and compress up to 12 million cubic meters of gas,... Continue Reading →
(OM) The Woods Hole Group says it has three DeepCLiDAR buoy systems ready for deployment to conduct wind resource assessments, metocean and marine environmental measurements. It also reports that additional buoys are under construction. With the Atlantic Wind Lease Sale 11 in the US Gulf of Maine Outer Continental Shelf scheduled for Oct. 29, 2024,... Continue Reading →
(OM) Petrobras says the first production well has been hooked up to the FPSO Marechal Duque de Caxias at the Mero field in the presalt Santos Basin offshore Brazil. Preparations for startup are now in the final phase. The FPSO, the third permanent production platform over the field, is designed to produce up to 180,000 bbl/d of oil and 12MMcm/d... Continue Reading →
(OM) Challenger Energy has completed the transfer of a 60% interest in the AREA OFF-1 block offshore Uruguay to Chevron subsidiary Chevron Mexico Finance LLC, Sucursal Uruguay. All approvals for the transaction have come through from the Uruguayan regulatory authorities. Challenger has received a cash payment of $12.5 million and retains a 40% interest in the block, with Chevron... Continue Reading →
The US Bureau of Ocean Energy Management (BOEM) and the Department of Defense (DOD) have signed a memorandum of understanding (MoU) to support the coordinated development of offshore wind on the US Outer Continental Shelf (OCS). The agreement calls for DOD and BOEM to find mutual solutions that support renewable energy in a manner compatible... Continue Reading →
(offshoreWIND.biz) Avangrid and Invenergy have each secured two lease areas in the Gulf of Maine auction, where total bids exceeded USD 21.9 million (approximately EUR 20 million), marking the first lease sale in the region and the first for floating offshore wind on the US Atlantic coast. The US Bureau of Ocean Energy Management (BOEM)... Continue Reading →
(Reuters) - Hess Corp beat estimates for third-quarter profit on Wednesday, helped by higher oil production in Guyana. The Guyana assets are at the center of an ongoing dispute between oil giants Chevron and Exxon that has delayed Chevron's $53 billion takeover of Hess. Hess agreed to the buyout last October, but the deal has been challenged by... Continue Reading →
Brazil Energy Insight 