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(OE) If awards were given for dominating the sustainable energy spotlight, offshore wind (OSW) would surely be in line for top honors. Consider: Big money: BOEM’s February sale of New York Bight offshore wind development rights drew a record $4.37 billion in developers’ bids. Not only is that real money, but just as critically, “This... Continue Reading →
ANP data show that oil production is taking place in 124 producing fields ceded by Petrobras to other companies, as of 2019, as part of the divestment process carried out by the company. In the period between 2012 and 2020. Before the divestments, production from these fields fell by approximately 60%, reaching 57,700 barrels of... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 04/04/2022, informs that it received a letter from the Ministry of Mines and Energy on today's date, at 7:18 p.m., in reference to the Petrobras Annual General Meeting to be held on April 13, 2022, with two replacements in the nominations for election... Continue Reading →
(Reuters) - Shell (SHEL.L) will write down up to $5 billion following its decision to exit Russia, more than previously disclosed, while soaring oil and gas prices boosted trading activities in the first quarter, the company said on Thursday. The post-tax impairments of between $4 billion and $5 billion in the first quarter will not impact the... Continue Reading →
The major will proceed with Yellowtail, its largest Guyanese project to date (PE) ExxonMobil has taken FID on the Yellowtail development offshore Guyana, following government and regulatory approvals. The major expects Yellowtail, its fourth development in the prolific Stabroek block, to produce around 250,000bl/d starting in 2025. Yellowtail has an estimated recoverable resource of 900mn... Continue Reading →
A “bare minimum” of £458 billion of investment and policy support will be needed by 2050 to get the global hydrogen market up and running. That is according to the latest hydrogen strategic planning outlook report by Wood Mackenzie, a Verisk business. Flor Lucia De la Cruz, senior research analyst at the research company, said: “Substantial... Continue Reading →
(Reuters) - Portugal's Galp Energia (GALP.LS), a partner in an Exxon Mobil-led (XOM.N) gas consortium in Mozambique, said on Thursday it hoped to start building onshore plants in the southern African country in 2024, but only if security has been guaranteed first. Mozambique has been grappling with militants linked to the Islamic State in its northern-most province of... Continue Reading →
Offshore drilling contractor Valaris has secured new contracts and extensions, with an associated contract backlog of $181 million. A notable update from the rig owner relates to a drillship contract in the Gulf of Mexico, which has now been novated from TotalEnergies to Equinor. Valaris informed on Wednesday that it has secured two-year contract extensions... Continue Reading →
(Reuters) - Brazil's government on Wednesdaytapped Jose Mauro Coelho, a high-ranking technocrat with expertise in the nation's oil and gas sector,as the next chief executive of state-run oil company Petrobras. The appointment comes amid a hectic several days for Petroleo Brasileiro SA (PETR4.SA), as the firm is formally known, as well as for the government, which... Continue Reading →
(Bloomberg) -- A messy leadership battle at Petrobras, Latin America’s biggest oil producer, is setting the stage for Brazil’s contentious presidential campaign and highlighting the complex tensions between the company’s pursuit of profits and its role as a tool of populist policy. Since the weekend, President Jair Bolsonaro’s choices for chief executive officer and chairman... Continue Reading →
Brazil Energy Insight 