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(Reuters) - Brazil's Petrobras may increase investments in its next five-year business plan by up to 10% over the previous one, which would place the state-run oil company's capital expenditures at around $86 billion, Chief Financial Officer Sergio Caetano Leite said in an interview on Monday. The increase in the 2024-2028 plan, still being discussed,... Continue Reading →
(OW) Atlantic Shores Offshore Wind, a 50:50 joint venture between Shell New Energies US and EDF-RE Offshore Development, has submitted a proposal to the New Jersey Board of Public Utilities (NJBPU) in the state’s third offshore wind solicitation. New Jersey opened the solicitation in March and is looking to award between 1.2 GW and 4... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company Petrobras is closely following negotiations for a majority stake in petrochemicals producer Braskem SA and will be ready to act if any of the proposals go forward, Chief Financial Officer Sergio Caetano Leite said during a press conference Friday. Petroleo Brasileiro SA, as it is formally known, has the... Continue Reading →
(WO) – Bolivia’s state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) made a natural gas discovery at the Remanso-X1 well. The new reservoir will generate approximately $5 billion in gas revenue for the country. “The well is undergoing condensate production tests (48° API). These results will allow it to be classified as the discoverer of... Continue Reading →
Petrobras started contracting process for FPSO for the Barracuda and Caratinga Field Revitalization Project, another important milestone in the Campos Basin revitalization plan. The announcement was published on the Petronect portal last Friday (04/08). The new FPSO will have the capacity to produce up to 100 thousand barrels of oil per day (bpd) and process... Continue Reading →
(OE) Oilfield services firms SLB, Subsea 7, Aker Solutions have received approvals from all relevant competition authorities to create a subsea joint venture, as proposed in August 2022. "Following clearance as of [Friday] by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have been obtained, including required clearances in Angola, Mozambique, Australia, Norway,... Continue Reading →
(OE) Avangrid, a U.S.-based subsidiary of the Spanish renewable energy giant Iberdrola, on Monday shared a photo of the completed Vineyard Wind 1 offshore wind substation. This is the first offshore wind substation installed in the U.S. and will serve the country's first large-scale offshore wind farm - Vineyard Wind. DEME Offshore used its flagship vessel,... Continue Reading →
(OE) Malaysian FPSO leasing company Yinson Production said Monday it had secured a $230 million term loan facility in relation to FPSO Maria Quitéria Yinson is delivering for Petrobras in Brazil. The loan facility was structured and arranged by Global Infrastructure Partners (“GIP”), an independent infrastructure fund manager with approximately USD100 billion in assets under... Continue Reading →
Baker Hughes’ international rig count report shows a boost in the number of offshore rigs in July 2023, as 6 additional units were recorded compared to the month before. On the other hand, the total number of international rigs saw a drop in activity, falling to 961 from 967 units in June 2023. Following a decrease of... Continue Reading →
(OE) Vast arrays of solar panels floating on calm seas near the Equator could provide effectively unlimited solar energy to densely populated countries in Southeast Asia and West Africa. Our new research shows offshore solar in Indonesia alone could generate about 35,000 terawatt-hours (TWh) of solar energy a year, which is similar to current global... Continue Reading →
Brazil Energy Insight 