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Petróleo Brasileiro S.A. - Petrobras informs that it has signed the Integrated Natural Gas Processing System (SIP) contract with CNOOC Petroleum Brasil Ltda. (CNOOC) and, together with Petrogal Brasil, Repsol Sinopec Brasil and Shell Brasil, partners in the Santos Basin pre-salt offshore pipelines, has concluded the process of CNOOC's adhesion to the existing contracts of... Continue Reading →
The Brazilian oil company Petrobras has launched a tender for the supply of two FPSOs for the shared reservoirs of Atapu and Sépia, with bids expected to be received in July 2023 and production to start in 2028. The offshore production units P-84 (Atapu) and P-85 (Sépia) will each have a daily production capacity of... Continue Reading →
(CN) The United States has long hovered on the cusp of an offshore wind energy boom, even as the industry has soared worldwide. After many fits and starts, only seven turbines are spinning off the U.S. coast, representing 0.1 percent of the total global capacity of offshore wind farms. Now that’s all starting to change. With companies hitting major... Continue Reading →
(Reuters) - Brazil's sovereign floating rate bond redemptions will hit a record high next year, underscoring the fiscal challenge facing President-elect Luiz Inacio Lula da Silva as he raises the spending ceiling to fund a social welfare package. Redemptions on the LFT bonds, which are linked to benchmark interest rates, will reach 464 billion reais... Continue Reading →
(Reuters) - Argentina's booming shale production in Vaca Muerta, a formation that rivals the United States' Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth. The government is now racing to build out infrastructure: a major... Continue Reading →
(OE) Ireland's Minister for the Environment, Climate and Communications, Eamon Ryan TD, on Friday issued Maritime Area Consents (MACs) to the first phase of seven offshore wind projects. The government said the MACs granting represented a significant milestone in the delivery of offshore wind in Ireland "The award of MACs ensures that only projects with... Continue Reading →
(Reuters) Mexican state oil company Petroleos Mexicanos (Pemex) said it has been falling behind in a global race to transition from fossil to renewable energy sources, and that stricter demands from environmentally conscious investors pose a threat. Investors have for years considered Pemex a laggard as rivals worldwide moved to dramatically decrease emissions from energy... Continue Reading →
Modec’s FPSO Anita Garibaldi is already in Brazilian waters. The platform vessel arrived at the Jurong Aracruz shipyard, in Espírito Santo, where it will undergo commissioning activities, in addition to regulatory inspections and operational tests. Right after these final preparatory works, the unit will leave for the Marlim field, in the Campos Basin. Start-up is... Continue Reading →
(PN) The company concluded its first issue of simple debentures, in a restricted public offering. The transaction totaled BR$1.4 billion, of which approximately BR$737 million were First Series debentures and approximately BR$663 million were Second Series debentures, both non-convertible into shares. The funds raised will be used by the company in the development of the... Continue Reading →
(Reuters) - Brazilian oil company Petroreconcavo SA expects to invest more than 1 billion reais ($193.91 million) in 2023 as it develops assets in Northeastern Brazil, and has not ruled out fresh acquisitions, its chief executive said. Petroreconcavo, which started operating in 2000, has grown significantly in recent years after buying onshore assets from state-run... Continue Reading →
