(Reuters) - Portuguese oil and gas company Galp Energia (GALP.LS) reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin. Rapid recovery in demand after pandemic lockdowns and a surge in energy prices driven by Russia's invasion of Ukraine have boosted profits for oil companies... Continue Reading →
French energy giant TotalEnergies has kicked off production from a field tied back to existing facilities located offshore Nigeria. Back in 2018, the Nigerian media disclosed that Total (now TotalEnergies) had been preparing to make the FID of the Ikike project. A year later, reports started circulating that the oil major was working on sanctioning the development of... Continue Reading →
Mexican national oil and gas company Pemex has taken over the ownership and operation of the FPSO operating on the second largest offshore oil complex in Mexico from Norway’s FPSO operator BW Offshore. BW Offshore revealed on Sunday that Pemex has assumed the ownership and operation of the FPSO Yúum K’ak’náab – known as El Señor del Mar (The Lord of the Sea) – with effect... Continue Reading →
Norwegian AKOFS Offshore has signed a firm contract for Aker Wayfarer that will continue to perform services as a subsea equipment support vessel (SESV) for Petrobras in Brazil. The duration of the contract is almost four years and the services will commence in the first half of 2023. AKOFS Offshore will perform the operations jointly with... Continue Reading →
Offshore drilling contractor Valaris has revealed that one of its drillships has started its new assignment offshore Brazil with the country’s state-owned giant, Petrobras. Back in October 2021, Valaris won a deal for the stacked drillship Valaris DS-4 with Petrobras for operations offshore Brazil. The contract was for a minimum term of 548 days. At the time, the Valaris DS-4 rig... Continue Reading →
Enel Brasil and the Government of the State of Ceará signed a memorandum of understanding to carry out technical, commercial, legal and financial feasibility studies for the future development of green hydrogen production projects in the State by Enel Green Power Brasil, an renewable generation of the Enel Group in the country. The partnership will... Continue Reading →
(OEM) Looking at the future of the oil and gas industry in the sustainable energy landscape, Wood Mackenzie, an energy intelligence group, has outlined three key elements of the energy super basins of the future. Ever since Russia’s attack on Ukraine, the outlook for the supply, demand, and price of fossil fuels is constantly shifting, which... Continue Reading →
(Rigzone) In the coming years, upstream capex in Latin America will shift into deeper and deeper water with Brazil, Guyana, and Mexico likely to lead the charge for new spending, Rystad Energy said. While onshore investments stabilized at around $14 billion and shallow water spending continues to decline, deepwater expenditure is projected to grow at... Continue Reading →
U.S. LNG company Sempra Infrastructure and Mexico’s state-owned utility CFE are to jointly develop energy infrastructure projects in Mexico, including the proposed Vista Pacífico LNG project, and the potential development of an LNG terminal in Salina Cruz, Oaxaca. On 21 July, Sempra Infrastructure, a subsidiary of Sempra, and Mexico’s Federal Electricity Commission (Comisión Federal de... Continue Reading →
Subsea 7 has laid the first subsea cables in the water for the 94.6 MW Hywind Tampen floating wind farm offshore Norway. JDR Cable System is in charge of supplying the electric cables for the project from its factory in Hartlepool, the UK, while Subsea 7 is responsible for the installation of the cables and... Continue Reading →
