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(Reuters) - Argentina is on track to hit record oil output this year from its massive shale deposits, which are already responsible for record natural gas production, a key local official said on Tuesday, amid a national push to grow domestic energy supplies. Located in western Neuquen province, the Vaca Muerta shale formation is the... Continue Reading →
Companies in the renewables energy business have set out to determine whether a green ammonia floating production vessel can be deployed on certain offshore wind locations. Norway-based H2Carrier AS, developer of the unique P2XFloater concept, said it has entered into a memorandum of understanding with Norwegian state-owned hydropower company Statkraft for the study. H2Carrier recently... Continue Reading →
Aberdeen-based Rotech Subsea has set up an entity in Taiwan to service the demand coming from the local offshore wind sector. According to Rotech, the move comes as it had completed a series of cable trenching and seabed leveling campaigns in Taiwan’s offshore wind sector and secured new contracts. With three spreads of its Controlled... Continue Reading →
As the global energy crisis grips the world in its clutches, taking it by storm, the American Petroleum Institute (API), a trade association representing the oil and gas industry, is advocating for a ramp-up of the U.S. oil and gas production not only as a solution to the energy security concerns plaguing the world at large... Continue Reading →
Oilfield services firm Baker Hughes Co said on Tuesday it will simplify its organizational structure by reducing its business units to two from four, starting October 1. The company added it expects to deliver at least $150 million in cost savings. The Houston, Texas-based firm said it will combine its Oilfield Services and Oilfield Equipment... Continue Reading →
(Reuters) TotalEnergies has lodged its production license application for Block 11B/12B offshore South Africa, the national petroleum regulator said on Tuesday, before a deadline expired which might have seen the oil major forfeit its right to develop the huge discovery. TotalEnergies discovered two large gas fields, Brulpadda and Luiperd, in offshore block 11B/12B about 175... Continue Reading →
(U) Petrobras is considering the potential of offering carbon capture and storage solutions for third-party industrial emissions in its native Brazil as part of a potential diversification strategy from the company’s key upstream oil and gas operations. “It’s a study we are doing right now,” Rafael Chaves Santos, executive director of institutional relations and sustainability... Continue Reading →
(Reuters) - Italian energy group Eni (ENI.MI) plans to invest around 4.5 billion euros ($4.47 billion) in upstream activities each year from now to 2025 focusing on several countries, its deputy chief operating officer for natural resources said on Tuesday. "We are fully committed to invest 4.5 billion per annum in the upstream to bring on line... Continue Reading →
(Reuters) Guyana could bank about $1.25 billion this year from the sale of oil as its share of offshore production and royalties, up 30% from a prior estimate, the government's finance ministry said over the weekend. Historically one of South America's poorest nations, Guyana this year expects proceeds from oil discoveries off its coast to jump on... Continue Reading →
(U) Italian major Saipem and Siemens Energy have signed a tentative deal to jointly develop a floating electrical substation for use in offshore wind farms. With momentum building in a number of markets for floating wind, multiple technological solutions are being proposed for substructures to support turbines and electrical substations. The memorandum of understanding between... Continue Reading →
Brazil Energy Insight 