(OM) BW Energy has issued updates on its development projects offshore Gabon and Brazil in its latest results statement. BW Energy has issued updates on its development projects offshore Gabon and Brazil in its latest results statement. In the Dussafu production sharing contract offshore Gabon, first-half production from the Tortue Field was down to about 11,100... Continue Reading →
Westwood: Optimistic outlook for onshore drilling following global uptick in demand and dayrates
(WO) Latest analysis from Westwood Global Energy Group, a specialist energy market research and consultancy firm, reveals a healthy recovery roadmap for the global land rig market, driven by higher commodity pricing and mounting pressures around energy security. Westwood expects many regions to recover from the dramatic global downturn throughout 2020 better than previously expected. In... Continue Reading →
U.S. shale on track for $200 billion year, could erase its debt by 2024
(Bloomberg) — U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. High oil prices and disciplined capital spending mean American frackers are on course for their most profitable year... Continue Reading →
WoodMac: For net-zero by 2050, carbon capture, utilisation and storage needs ‘seven-fold’ boost
As global carbon capture, utilisation and storage (CCUS) capacity is nearing 1 billion tonnes per annum, the new U.S. energy bill – the Inflation Reduction Act (IRA) – is expected to boost the uptake further, however, Wood Mackenzie, an energy intelligence group, believes that more is needed to meet net-zero goals by 2050. Wood Mackenzie pointed out... Continue Reading →
ANP includes 218 blocks of the Equatorial Margin in the Permanent Offer System
(PN) The board of the National Petroleum Agency (ANP) approved the inclusion of 218 blocks from the Equatorial Margin in the Permanent Offer system, under the concession regime. The added blocks are located in the Foz do Amazonas, Pará-Maranhão, Barreirinhas, Ceará and Potiguar basins, in deep and ultra-deep water marine environments. According to the ANP,... Continue Reading →
Norwegian gas holds potential to play ‘key place’ in Europe’s energy transition
Norway’s government agency responsible for the regulation of petroleum resources believes that the country’s gas can enable Europe to achieve its energy transition goals. To make this happen, investments in unlocking new oil and gas resources and improving the recovery from existing ones are important to limit the production decline and maintain the country’s role... Continue Reading →
Dutch Build Out North Sea Wind Farms, Test Floating Solar Panels
(Reuters) Wind turbines, floating solar panels, and green hydrogen at sea are among the projects under construction off the Dutch coast, as a country famed for its water engineering prowess builds out its renewable energy infrastructure. On a tour of North Sea facilities on Aug. 25, companies and Dutch utilities showed off key projects. At... Continue Reading →
Oceaneering Names Laura SVP and CIO
Subsea services firm Oceaneering International said Wednesday that Benjamin M. Laura, who currently serves as Oceaneering’s Senior Vice President, Offshore Projects Group, has been promoted to Senior Vice President and Chief Innovation Officer (“CIO”), effective October 1, 2022. He joined Oceaneering in 2014 as Director of Subsea Services, was appointed as Vice President of Service,... Continue Reading →
PRIO Financial Settlement of Debentures
– In compliance with the terms of the Resolution No. 44, of August 23, 2021, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM Resolution 44” and “CVM”, respectively) and Instruction No. 476, of January 16, 2009, as amended, issued by the CVM (“CVM Instruction 476”), and in addition to the Material Fact... Continue Reading →
SSE Renewables Reveals Name for Giant New Offshore Wind Farm in Scotland
Offshore wind developer SSE Renewables said Thursday that its new offshore wind farm project in Scotland would be named after "a historic series of books that depict the epic quests of a third-century Scottish leader, following his adventures across rolling seas." Ossian (pronounced ‘os-si-un’) from The Poems of Ossian is to be the name for... Continue Reading →
Brazil Energy Insight 