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(Reuters) - Mexico will use the extra revenue it collects from higher oil prices to subsidize domestic gasoline and diesel prices, Deputy Finance Minister Gabriel Yorio told Reuters on Friday. While production has slid significantly in recent years, Mexico remains a major oil producer and exporter. Without the fuel subsidy, annual inflation, which hit 7.29%... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, informs that discovered a new oil accumulation in the pre-salt in the southern portion of the Campos Basin, in a wildcat well in the Alto de Cabo Frio Central block. The well 1-BRSA-1383A-RJS (Alto de Cabo Frio Central Noroeste) is located 230 km from the city of Rio de Janeiro-RJ,... Continue Reading →
(epbr) The Danish wind turbine giant, Vestas, signed a memorandum of understanding with the government of Rio Grande do Norte (RN) to study the feasibility of implementing a port-industry that includes offshore wind projects and green hydrogen production. The agreement is the result of a visit that Governor Fátima Bezerra made to Denmark in November... Continue Reading →
(epbr) Licensing for offshore wind projects in Brazil surpassed the 106 GW of power under licensing at Ibama this month, with the arrival of projects from TotalEnergies (9 GW) and Shell Brasil (17 GW). TotalEnergies' projects are the Sopros do Ceará, Sopros do RJ and Sopros do RS wind farms, each with 200 wind turbines... Continue Reading →
(epbr) TotalEnergies, a major western oil and gas producer, is developing 9 GW of offshore wind generating capacity off the coast of Brazil. There are three distribution parks in Ceará, Rio de Janeiro and Rio Grande do Sul. It joins the giants Equinor and Shell, also in the oil and gas segment, but with energy... Continue Reading →
(PN) Always very discreet in the traditional press conferences of Petrobras, giving only shorter and more punctual statements, General Joaquim Silva e Luna decided to speak out, now that his departure from the presidency of the state-owned company is more than confirmed. The military man gave several interviews to some of the country's press vehicles,... Continue Reading →
(Reuters) - Two U.S. liquefied natural gas (LNG) projects took major steps toward launching this week as Russia's threats to cut energy supplies to Europe drives up demand and prices for the super-chilled fuel. Developers Sempra Energy (SRE.N) and New Fortress Energy Inc (NFE.O) advanced agreements on separate projects, one of which could be producing LNG within 12 months.... Continue Reading →
(PN) The National Petroleum Agency (ANP) confirmed that the country's proved reserves grew 11% in 2021. In addition, there was an increase of 14.3% in the volume related to the sum of proved and probable reserves (2P) and of 19.8% in the sum of proved, probable and possible (3P), compared to 2020 data. Replacement rate... Continue Reading →
(PN) The contracting of the P-81 platform ship, which will be installed in the promising Sergipe-Alagoas Basin, may be a little closer to an outcome. According to our report, the Brazilian company Ocyan was the only company to submit a bid for the contracting of the unit, whose start of production is scheduled for 2026.... Continue Reading →
Oil major Shell has started production on Block 22 and NCMA-4 in the North Coast Marine Area (NCMA) in Trinidad and Tobago. Shell made the Final Investment Decision for Project Colibri in March 2020. The start-up of Colibri follows the amendment to the Block 6 Production Sharing Contract for the Manatee field, marking yet another significant milestone in... Continue Reading →
Brazil Energy Insight 