With $64.5 billion merger in the works, ExxonMobil set on reinforcing US energy security and curbing emissions

(OET) U.S.-headquartered energy giant ExxonMobil is in the process of expanding its footprint in the U.S. even further, thanks to a definitive agreement to acquire Pioneer Natural Resources in an all-stock transaction, which has an implied total enterprise value, including net debt, of approximately $64.5 billion. The oil major believes that this deal will strengthen the... Continue Reading →

October 12, 2023 0

Azule Energy Eyes 14% Production Boost. Plans 16 Offshore Wells Over Next Four Years

(Reuters) Angola's largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said on Thursday, in a boost to the country's plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni and BP formed last year when the... Continue Reading →

October 12, 2023 0

Brazilian FPSO now likely to be back online by November

(OET) Brazilian oil and gas player Enauta has changed the timeline for the restart of production from a floating, production, storage, and offloading (FPSO) vessel, which is working on a field off Brazil. This FPSO is now anticipated to come back online by November 2023. Originally, the production was expected to resume by early September... Continue Reading →

October 12, 2023 0

Global Energy Transition Hasn’t Truly Started Yet as Fossil Fuels Persist – DNV

(OE) Between 2017-2022 renewables met 51% of new energy demand, while the remaining demand was supplied by fossil fuels, according to DNV’s Energy Transition Outlook. "Renewables are still just meeting increased demand rather than replacing fossil fuels, and in absolute terms, fossil fuel supply is still growing," DNV said. "Limiting global warming to 1.5°C warming is... Continue Reading →

October 11, 2023 0

Eni Eyes FID on Second FLNG Project in Mozambique in 2024

(Reuters) Italy's Eni hopes to reach a final investment decision on its second floating liquefied natural gas (LNG) project in Mozambique by the end of June next year, two sources directly involved with the project said on Tuesday. Its first LNG project - called Coral Sul - made the impoverished African country a global producer... Continue Reading →

October 11, 2023 0

Brazil set to widen lead as cleanest major power sector

(Reuters) - Brazil generated nearly 93% of its electricity from clean sources during the first nine months of 2023, up more than 2 percentage points from the same period in 2022 and the largest clean-power share among major economies. France has historically boasted the cleanest power sector among top economies, but has lost ground to... Continue Reading →

October 11, 2023 0

Bill Expediting California’s Offshore Wind Development Signed into Law, New Legislation Said to Cut Permitting Timeline by Five Years

(OW) California’s Governor Gavin Newsom signed two new offshore wind bills into law on 7 October. Coming into effect on 1 January 2024, the Offshore Wind Expediting Act (bill SB 286) is set to shave five years off of the offshore wind permitting timeline, while under the California Offshore Wind Advancement Act (bill AB 3),... Continue Reading →

October 10, 2023 0

Petrobras achieves high level of utilization of its refineries

Petróleo Brasileiro S.A. – Petrobras informs that in September its refining units reached 97% utilization for the second consecutive month. As a result, the Total Utilization Factor (FUT) of the refineries in 3Q23 reached 95.8%, the best result since 2014. The largest refinery in the country, the Paulínia Refinery (Replan), broke its utilization record, processing... Continue Reading →

October 10, 2023 0

First Power Flows from World’s Largest Offshore Wind Farm

The world’s largest offshore wind farm under construction, Dogger Bank, has started producing electricity for the first time for British homes and businesses. The 3.6 GW Dogger Bank Wind Farm is being constructed in UK waters some 130 kilometres off the coast of Yorkshire and in three 1.2 GW phases known as Dogger Bank A,... Continue Reading →

October 10, 2023 0

Oceaneering inks drillpipe riser system contract with Petrobras

(OM) Oceaneering's wholly owned subsidiary Marine Production Systems do Brasil Ltda. has secured a five-year contract from Petrobras for the operation of three existing drillpipe riser systems to support intervention and completion operations in Brazil. Petrobras also has the option to add a fourth drillpipe riser system by notifying Oceaneering prior to mid-December 2023. The contract... Continue Reading →

October 10, 2023 0

Brazil Energy Insight

With $64.5 billion merger in the works, ExxonMobil set on reinforcing US energy security and curbing emissions

Azule Energy Eyes 14% Production Boost. Plans 16 Offshore Wells Over Next Four Years

Brazilian FPSO now likely to be back online by November

Global Energy Transition Hasn’t Truly Started Yet as Fossil Fuels Persist – DNV

Eni Eyes FID on Second FLNG Project in Mozambique in 2024

Brazil set to widen lead as cleanest major power sector

Bill Expediting California’s Offshore Wind Development Signed into Law, New Legislation Said to Cut Permitting Timeline by Five Years

Petrobras achieves high level of utilization of its refineries

First Power Flows from World’s Largest Offshore Wind Farm

Oceaneering inks drillpipe riser system contract with Petrobras

Archives

Contact Us