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Brazilian oil company Prio will continue to assess the purchase of some assets from state-owned Petrobras even after a deal for its Albacora offshore oilfield fell through, Prio's finance chief told Reuters on Tuesday. Petrobras has in recent years sold off dozens of oil fields, as well as refineries, pipelines, gas station chains and other... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for August 2022 in the assets that the Company holds participation. The Company is the operator of Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo... Continue Reading →
(OM) The global energy market continues to shift dynamically, from being oversupplied in 2020 to presently having a deficit, a trend which has been exacerbated by the ongoing Russian-Ukrainian conflict. Additionally, years of underinvestment in hydrocarbon projects has only amplified this deficit. The result: elevating the stature of nations with hydrocarbon reserves that can be... Continue Reading →
(Reuters) - Global energy trader Vitol Group smashed its previous records by making more profit in the first half of this year than in the whole of last year, people familiar with the matter said. Sources with knowledge of the results said the trading firm made close to $4.5 billion in the first six months... Continue Reading →
Swiss underwater robotics company Hydromea and Scotland’s remote technology specialist Air Control Entech (ACE) have entered into a service partnership agreement to commercialize what is said to be the world’s first wireless remotely operated underwater vehicle (ROV) for inspections at offshore floating platforms. Under the deal, ACE will promote and use Hydromea’s EXRAY wireless ROV... Continue Reading →
Jan De Nul has completed the installation of 80 sets of 6 MW wind turbine generators (WTG) at Saint-Nazaire, France's first commercial offshore wind farm. The company said Tuesday it had completed the project "significantly ahead of schedule." The first turbine was installed back in April using Jan De Nul's Vole au Vent jack-up vessel. On September... Continue Reading →
US operator Apache has discovered light oil with its Baja-1 wildcat in deep-water Block 53 offshore Suriname and is working to firm up the potential of the resource. The US independent and partners Petronas of Malaysia and Spain’s Cepsa drilled the Baja-1 exploration well to a total depth of 5290 metres from a water depth... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 66,000 barrels per day (bpd) to a record 5.413 million bpd in October, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
A Boston federal judge barred General Electric Co on Wednesday from making and selling its Haliade-X wind turbines in the United States, after a jury found in June that the turbines infringed a patent owned by rival Siemens Gamesa Renewable Energy A/S. U.S. District Judge William Young said Siemens Gamesa was entitled to the ban because it... Continue Reading →
(Reuters) - French independent power producer HDF Energy (HDF.PA) expects its green hydrogen power plant in Namibia, Africa's first, to start producing electricity by 2024, a senior company executive said on Monday. Once operational, the 3.1 billion Namibian dollar ($181.25 million) Swakopmund project will supply clean electricity power, 24 hours a day all-year round, boosting electricity supply... Continue Reading →
Brazil Energy Insight 