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(Reuters) - Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since mid-March, fuel costs have surged while crude prices are up only modestly. Much of... Continue Reading →
(Reuters) - Mexico's hydrocarbon regulator is investigating state oil company Petroleos Mexicanos (Pemex) over suspected excessive natural gas flaring and other violations at another giant field, according to two sources with direct knowledge of the matter. In 2019, Pemex, which is under international pressure to clean up its operating practices, hailed the Quesqui field in... Continue Reading →
(PN) In the midst of a turbulent week due to the change in its presidency and the rise in fuel prices, Petrobras made a new advance in its exploratory program in the Espírito Santo Basin. The company started drilling the 1-BRSA-1385-ESS well, in the ES-M-596 block, in a water depth of 2,117 meters. As already... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the Material Fact released on 06/09/2022, informs that it received a letter from the Ministry of Mines and Energy today, at 9:21 pm, to rectify the nominations of candidates of the controlling shareholder for the Company's Board of Directors, to be submitted to the Extraordinary General Meeting.... Continue Reading →
(Reuters) Italian energy services group Saipem said on Wednesday it would launch a planned 2 billion-euro ($2.10 billion) rights issue from June 27 as it strives to bolster its finances and re-focus its business after a surprise profit warning in January. The move is part of a plan to get the group back into the... Continue Reading →
German energy company RWE and steel producer ArcelorMittal have signed a memorandum of understanding to work together to develop, build and operate offshore wind farms and hydrogen facilities that will supply the renewable energy and green hydrogen required to produce low-emissions steel in Germany. The partnership centres on driving forward the production of carbon-neutral steel,... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro on Wednesday said Caio Paes de Andrade, his pick to be oil producer Petrobras' (PETR4.SA) next chief executive, will replace the company's management when he takes over the position. "Obviously, he (Andrade) is going to change his directors and these new ones will give the company a new dynamic, they will... Continue Reading →
(Reuters) - French lender Credit Agricole (CAGR.PA) on Wednesday set out targets to cut its exposure to the financing of emissions from the oil and gas sector and boost renewable energy lending. The move comes as the sector faces growing regulatory and investor pressure to align lending with the world's climate goal, aiming to cap global warming... Continue Reading →
Houston-based APA Corporation on Tuesday announced its joint venture with France's TotalEnergies has made an oil discovery at the Krabdagu exploration well off the coast of Suriname. APA has a 50% working interest in Block 58 where the oil discovery was made, with TotalEnergies the operator and the holder of the remaining stake. Flow test... Continue Reading →
Global group Libra has acquired a U.S. shipyard through a subsidiary to capitalize on growing shipbuilding demand for the offshore wind industry as Washington accelerates efforts to boost cleaner power, top company executives said. U.S. President Joe Biden's administration is pushing to expand the fledgling offshore wind energy industry in the coming decade by opening... Continue Reading →
Brazil Energy Insight 