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Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) by the late 2030s, equivalent to about 75 per cent of the expected amount of gas produced by Russia in 2022, according to research by Rystad Energy. In early March, the European Union announced it aims to reduce its dependence on... Continue Reading →
Empire Offshore Wind, a joint venture between Equinor and BP, has awarded Edison Chouest Offshore (ECO) a long-term service operations vessel charter. The vessel will service the Empire Wind offshore wind farm project located 15-30 miles southeast of Long Island. Edison Chouest Offshore's plug-in hybrid service operations vessel (SOV) will be the first in the... Continue Reading →
Dutch dredging and marine services firm Boskalis raised its full-year core profit forecast on Thursday, pointing to a well-filled order book and favorable market outlook in the short and medium-term. Boskalis, which also offers services and contracting for the oil and gas sector and offshore wind industry, now expects its 2022 earnings before interest, tax,... Continue Reading →
(Reuters) - The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March. The IEA, after warning on March 16 that 3 million barrels per day (bpd) could be... Continue Reading →
(Reuters) - The Biden administration on Wednesday said it would scrap three planned sales of offshore oil and gas leases in Alaska and the Gulf of Mexico. In a statement, the Department of Interior said it was not moving forward with an auction for drilling rights in the Cook Inlet off the coast of Alaska... Continue Reading →
(Reuters) - Oil major BP (BP.L) has submitted bids to develop two offshore wind power leases in the Netherlands, it said on Thursday, as the company increases its focus on renewable energy. BP has bid in the tender process for two wind farm sites at the Hollandse Kust (West) zone, located 53 kilometres off the Netherlands' west... Continue Reading →
(Reuters) - France-based TotalEnergies and U.S. power company Duke Energy Corp (DUK.N) each won offshore wind leases in federal waters off the coast of North and South Carolina on Wednesday, the Interior Department said in a statement. The auction generated $315 million in winning bids, split between Duke at $155 million and TotalEnergies at $160 million. It... Continue Reading →
(Reuters) - Brazil's newly appointed mines and energy minister, Adolfo Sachsida, said on Wednesday he will request studies on Petrobras' (PETR4.SA) privatization as his first act in office. "I request the beginning of the studies pending the proposal of the legislative changes necessary for the Petrobras' privatization," Sachsida said in his first address to media. Sachsida, who... Continue Reading →
Shareholders of offshore drilling company Noble Corporation have approved the company's proposed plan to merge with the Danish offshore drilling firm Maersk Drilling. "...at the Extraordinary General Meeting of shareholders held today, shareholders approved all proposals related to the previously announced business combination agreement with [Maersk Drilling]," Noble Corp. said Tuesday. According to Noble Corp,... Continue Reading →
(Reuters) - Brazil's inflation slowed in April but still posted the steepest rise for the month in 26 years, pushing the 12-month figure to over 12% amid continued pressures on food and fuel, official figures showed on Wednesday. Consumer prices as measured by the benchmark IPCA index rose 1.06% in April, slightly above the 1.0%... Continue Reading →
Brazil Energy Insight 