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Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), informs its shareholders and the market in general of the start of production of the 7-FR-61HP-RJS (“N5P2”) well, in the Frade Field (“Field” or “Frade”), with stabilized initial production of approximately 11,000 barrels of oil per day, above original projections. Thus, the Field has reached 50,000 barrels... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras reaffirms its commitment to the practice of competitive prices and in balance with the national market, while avoiding the immediate pass-through of external volatility and exchange rate caused by circumstantial events and confirms that it has received no proposal from the Ministry of Mines and Energy regarding the change in the... Continue Reading →
(OW) The wind turbine components to be installed on the Provence Grand Large floating wind farm offshore France have arrived in Port-Saint-Louis-du-Rhône. The 24 MW Provence Grand Large is located 40 kilometres west of Marseille and 17 kilometres off the coast of Port-Saint-Louis-du-Rhône, in water depths of around 100 metres. The floating wind farm will... Continue Reading →
Bureau Veritas has granted Approval in Principle (AiP) to Sweden-based Windeed for its low-weight and low-acceleration floater solution for offshore wind turbines. The AiP is a significant milestone in the development of Windeed’s technology, which could offer competitive prices and lower levelised cost of energy (LCOE) compared to other solutions on the market due to... Continue Reading →
The state administration of Maryland, US, has set a goal of achieving 8.5 GW of installed offshore wind capacity by 2035, by which time the state aims to have 100 per cent of clean energy in its energy mix. To support this target, the administration is working to establish new lease areas and strengthen the... Continue Reading →
(OM) Principle Power and Aker Solutions have been awarded a US Floating Offshore Wind Readiness (FLOWIN) Prize, which will set forth the goal to establish a sustainable and competitive domestic supply chain ecosystem to deliver floating offshore wind projects in the US. The FloatHOME Project will leverage the fourth-generation, industrialized WindFloat design to evaluate and compare deployment options,... Continue Reading →
(Reuters) - Spanish power company Iberdrola (IBE.MC) will seek to expand in the United States and take advantage of its green subsidies after announcing the sale of gas assets worth $6 billion in Mexico, Chief Financial Officer Jose Sainz said on Wednesday. The sale significantly reduces the renewable energy giant's exposure to Mexico, where its relationship with... Continue Reading →
(OEM) Chinese shipbuilder COSCO Shipping Offshore Engineering has held a groundbreaking ceremony in Qidong for the construction of a floating, production, storage and offloading (FPSO) vessel, which is destined to work for Petrobras in the Santos Basin pre-salt area offshore Brazil. The Chinese company says that it held the groundbreaking ceremony for the P-82 FPSO, which it describes as “the... Continue Reading →
Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The oil and gas giant has stopped current drilling at the offshore acreage it started snapping up with partners for $4 billion in 2017, after failing for the third time to... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Tuesday signaled in a securities filing that first-quarter operating profits dropped about 25% from last year's record levels as oil and gas prices eased. Operating results could drop to about $9.6 billion, compared to $12.8 billion net profit from the fourth quarter, according to a snapshot of factors affecting first... Continue Reading →
Brazil Energy Insight 