Brought to you by Quest Offshore & Southern Cone Consultants
Philip Lewis, Contributor (OE) In recent State of the Port address, the first held since 2020, the Port of Long Beach’s Executive Director David Cordero discussed the port’s plan to support California’s emerging floating wind industry. The Port of Long Beach has not yet been identified as a marshalling port for any one project. However, under its Zero Emissions,... Continue Reading →
(Reuters) Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020. China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories, have contributed to an extraordinary wave of buying across the... Continue Reading →
(Reuters) The new chief executive of Petrobras told employees the oil company will drive Brazil's transition to renewable energy, while keeping its oil and gas expansion on track. The first remarks by Jean Paul Prates as CEO, in a video to employees, mark a strategy shift for the state-run firm, which has spent the last... Continue Reading →
(Reuters) Germany boosted its offshore wind power capacity by 357 megawatts (MW) to 7,036 MW last year, inching towards a planned 30,000 MW by 2030, power grid operator TenneT said. The German arm of the Dutch transmission group will play a key role in achieving the target, linking the majority of new wind farms to... Continue Reading →
(Reuters) - Mexico's government will provide further support to state-run oil company Petroleos Mexicanos (Pemex) and has a plan to ensure that pending bond payments in 2023 are met, President Andres Manuel Lopez Obrador said on Friday. Pemex's debt obligations are being paid on time with the government's assistance, and the finance ministry and Pemex's... Continue Reading →
(Reuters) - The new Chief Executive of Brazil's Petrobras, Jean Paul Prates, has picked geologist Mario Carminatti to head the oil company's exploration and production division, people with knowledge of the information said on Friday. As the company's chief geologist, Carminatti is highly respected at Petrobras for having led the discovery in 2006 of one... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received today, up front, the amount of R$ 1.3 billion, regarding the complement of the firm compensation (earnout) for fiscal year 2022, related to the Sépia block. The amount already includes the amount of the gross-up of taxes related to TotalEnergies' 28 %, Petronas’21 % and QP... Continue Reading →
(OE) A joint venture between RWE Renewables and National Grid called Community Wind has submitted a proposal to the New York State Energy Research and Development Authority (NYSERDA) to provide New York State with electricity from 1.3 GW of offshore wind capacity to power nearly 500,000 homes. The bid submission was in response to the... Continue Reading →
(OE) Ørsted and Eversource have submitted a joint proposal in response to New York State’s third round of offshore wind solicitations. "Delivering clean, renewable power for at least 1 million New York homes, this submission includes multiple bids with different configurations that will generate billions of dollars in economic activity in the state economy, create... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) on Friday posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset writedowns and rising costs. The second largest U.S. oil producer's adjusted net profit for 2022 exceeded its previous record set in 2011 by about... Continue Reading →
Brazil Energy Insight 