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U.S. oil major ExxonMobil has made a discovery at the Bavuca South-1 exploration well at the Block 15, offshore Angola. The well encountered 30 meters (98 feet) of high-quality, hydrocarbon-bearing sandstone. It is located approximately 365 kilometers northwest off the coast of Luanda and was drilled in 1,100 meters (3,608 feet) of water. ExxonMobil usied the... Continue Reading →
(Reuters) Colombian state oil company Ecopetrol on Tuesday reported its third-quarter net profit more than doubled to 9.51 trillion pesos ($1.90 billion), rising 150% from a year earlier, as production returned to levels not seen since before the coronavirus pandemic. The firm's revenues climbed 86% to 43.44 trillion pesos, while earnings before interest, taxes, depreciation... Continue Reading →
Pemex and its partners could take a final investment decision (FID) on the Zama oil project by the end of next year, according to Harbour Energy. The London-based independent is a partner in Block 7 in the Sureste Basin, which contains the main part of the Zama accumulation. In its latest result statement, Harbour said the block’s co-venturers are close... Continue Reading →
Dutch offshore installation company Heerema Marine Contractors has recently tested C1 Connections' C1 Wedge Connection offshore. The C1 Wedge Connection is said to be a high-capacity connection that can be installed faster and safer than conventional bolted flange connections. It can be used in off- and onshore wind turbines, both in turbine towers and foundations. ... Continue Reading →
Prysmian Group has expanded its cable-laying fleet to five vessels with the addition of the ultra-shallow-water barge Barbarossa I. With the addition of Barbarossa I, Prysmian said it can now provide the full range of subsea cable-laying solutions, from the shallowest coastal waters in Northern Europe to the profoundest depths of the Mediterranean Sea and can execute... Continue Reading →
(Reuters) - The Green Investment Group (GIG), owned by Macquarie Asset Management, will launch a new platform to develop battery storage capacity across the world, it said on Monday. The platform, called Eku Energy, will have 190 megawatt hours of flexible storage capacity under construction on completion of the launch and a further pipeline of... Continue Reading →
Energy industry engineering and maintenance services company Sparrows Group has secured a two-year contract to provide crane maintenance services onboard Tullow Oil’s FPSO Kwame Nkrumah at the Jubilee offshore oil field in Ghana. Sparrows will be responsible for the maintenance, performance, and reliability of the main deck cranes installed and in operation onboard the FPSO... Continue Reading →
(Reuters) Massachusetts utility regulators denied offshore wind power company Commonwealth Wind's motion to suspend its power purchase agreement with state electric utilities, raising questions about the future of Commonwealth's proposed offshore wind project. The Massachusetts Department of Public Utilities (DPU) said in an order on Friday that Commonwealth "is a sophisticated market participant well capable... Continue Reading →
(Reuters) - Leaders from poor countries criticized wealthy governments and oil companies for driving global warming, using their speeches on Tuesday at the COP27 climate summit in Egypt to demand that they pay up for damages being inflicting on their economies. Small island states already buffeted by increasingly violent ocean storms and sea-level rise called on oil... Continue Reading →
(Reuters) - Siemens Energy (ENR1n.DE) opened on Tuesday a 4.05 billion euro ($4.05 billion) bid for the third of the shares it does not own in its unit Siemens Gamesa (SGREN.MC), the German company said. The acceptance period will last 36 calendar days and is expected to end on Dec. 13 2022, said the company, after the Spanish... Continue Reading →
Brazil Energy Insight 