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(OM) APA Corp. has issued a brief update on its offshore E&P operations in its latest results statement. The company and partner/operator TotalEnergies plan further appraisal of the Krabdagu Field offshore Suriname after completing two flow tests on the discovery well. APA and its partners are drilling further on exploration wells on Block 58 (Dikkop) and... Continue Reading →
Spanish oil company Repsol has found good quality reservoir at its exploration well offshore Guyana but both targets are water-bearing and the well has been plugged and abandoned. The Beebei-Potaro exploration well was drilled in the Kanuku licence, offshore Guyana. The licence is operated by Repsol with a 37.5 per cent interest with Tullow Oil holding... Continue Reading →
The Cidade de Anchieta FPSO remains shut down, six months after oil was observed close to the vessel during operations for Petrobras in the Espirito Santo Basin offshore Brazil. In its latest results statement, SBM Offshore said an estimated 191 cu. m of oil was released to the sea. The vessel, which had been operating in the Parque das Baleias area, is currently... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Thursday it will reduce refinery gate diesel prices by 3.5% starting Friday, the first price cut for the fuel in more than a year. Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said in a statement on its website that diesel prices will drop to 5.41... Continue Reading →
ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices. Oil and gas prices have skyrocketed with Western sanctions on major producer Russia throttling energy supply amid a rebound in demand from pandemic lows. Crude is trading about 25%... Continue Reading →
(OE) The events of the last month have shown that, despite some negative factors, the impetus to continue to grow the U.S. offshore wind segment has lost little steam. The foundations are firmly in place to support the deployment of 30 gigawatts (GW) of offshore wind by 2030 and 110 GW by 2050. Two major... Continue Reading →
Iberdrola Group company AVANGRID has finalized an agreement to take over responsibility as the operations and management services provider for Vineyard Wind 1, the U.S.' first commercial-scale offshore wind project. The agreements include an operations and maintenance service agreement and asset management agreement, which designate AVANGRID as the party responsible for overseeing the operation and... Continue Reading →
U.S.-based energy giant ExxonMobil has picked another vessel from Kotug, a Dutch towage services provider, for operations entailing the provision of terminal towage support for two floating production, storage and offloading (FPSOs) units offshore Guyana. Kotug revealed on Tuesday that this deal was awarded by ExxonMobil’s subsidiary Esso Exploration and Production Guyana (EEPGL) and it... Continue Reading →
Investment in the offshore wind sector in the first half of this year amounted to USD 32 billion, 52 per cent more than in the same same period in 2021, according to BloombergNEF (BNEF). The financing of the 1 GW China Three Gorges (CTG) Yangjiang Yangxi Shapa Qingzhouwu Offshore Wind Farm for USD 2.1 billion... Continue Reading →
(Reuters) - SBM Offshore (SBMO.AS) on Thursday revised its annual guidance upwards as the Dutch oil and gas services firm sees the transition to renewable energies from fossil fuels benefiting its project portfolio, sending its shares higher. The group, which plans to achieve net-zero emissions by no later than 2050, set intermediate greenhouse gas-related targets as the... Continue Reading →
Brazil Energy Insight 