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(OE) Australian oil and gas company Woodside on Tuesday announced the completion of the construction phase for the floating production storage and offloading (FPSO) facility which will be deployed at the Sangomar field offshore Senegal. This will be Senegal's first offshore oil production unit. MODEC, Inc. was awarded the contract to supply the FPSO by... Continue Reading →
(OE) MunmuBaram, a joint venture between Shell and Swedish floating wind technology developer Hexicon Hexicon, has named the wind turbine maker Vestas as the preferred turbine supplier for the 1.3 GW MunmuBaram floating offshore wind project in South Korea. If the project materializes, Vestas will supply and install 84 units of the V236-15.0 MW turbine... Continue Reading →
Mainstream Renewable Power ("Mainstream"), a renewable energy company majority-owned by Aker Horizons, and offshore wind developer Maple Power are jointly exploring the upcoming Celtic Sea Floating Offshore Wind Tender in the UK, which will be launched in 2023. Maple Power Ltd is a 50:50 joint venture between Enbridge Inc. and Canada Pension Plan Investment Board... Continue Reading →
(Reuters) Exxon Mobil Corp will wind down oil production in Equatorial Guinea and leave the West African country after its license expires in 2026, two sources close to the matter told Reuters. The departure reflects a wider move by major oil producers to reduce crude production in West Africa and shift investments to lower-carbon natural... Continue Reading →
(Reuters) - Mexican state power utility CFE has signed an agreement with French energy company Engie to develop terms and requirements to expand the Mayakan gas pipeline in the Yucatan Peninsula, CFE said in a statement Monday. Representatives for the two parties met on Nov. 23, CFE said. The Mayakan pipeline spans some 800 km... Continue Reading →
(Reuters) - Argentina on Monday reached an agreement with major oil firms operating in the country to put a cap on fuel price increases in a bid to keep costs at the pump down for hard-hit consumers amid surging inflation. The deal with firms like state company YPF (YPFD.BA) and Shell (SHEL.L) would see fuel price increases of 4%... Continue Reading →
(Reuters Breakingviews) - U.S. President Joe Biden is open to Venezuelan oil. Over the weekend, the Treasury Department issued $355 billion oil giant Chevron (CVX.N) a license to resume limited production in the country. That helps to spread around extraction of the fossil fuel, and could ease prices on the margin. But between the dirty Venezuelan oil and... Continue Reading →
(Reuters) - BP (BP.L) is considering ending the publication of its Statistical Review of World Energy, over 70 years after it first published the benchmark report, as the energy major focuses on its shift to renewables, the company told Reuters. The Statistical Review has been a go-to resource for the wider energy sector since it was first published in... Continue Reading →
(Reuters) - The chief executive of Brazil's Braskem SA , Roberto Simoes, is set to leave the petrochemical producer on Jan. 1, 2023, three years after taking office, the company said on Monday. Controlling shareholder Novonor has tapped Roberto Bischoff as the firm's new CEO, Braskem added in a securities filing, noting that his nomination... Continue Reading →
Reuters) - A broad measure of Brazilian consumer and business credit default ratios rose in October to its highest level in almost four years, central bank data showed on Monday, amid high borrowing costs and aggressive monetary tightening. The default ratio in non-earmarked loans increased to 4.2% from 4.1% in September, the highest since August... Continue Reading →
Brazil Energy Insight 