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Oil and gas company Tullow Oil has completed the pre-emption related to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy, increasing its interest in the fields. The cash consideration paid on completion was $118 million reflecting closing adjustments and was funded from cash on the balance... Continue Reading →
(Reuters) - Colombia's majority state-owned oil producer and energy company Ecopetrol (ECO.CN) on Friday launched its first green-hydrogen pilot project at its refinery in the Caribbean city of Cartagena, it said in a statement. Using a 50-kilowatt Proton Exchange Membrane electrolyzer, 270 solar panels, and water used by the refinery, Ecopetrol will produce 20 kg (44 lb)... Continue Reading →
(Reuters) - Shell (SHEL.L) announced on Friday it has applied for a license from Brazil's environmental agency Ibama to generate offshore wind power in six areas in the country. The six projects are located in the Brazilian states of Piaui, Ceara, Rio Grande do Norte, Espirito Santo, Rio de Janeiro and Rio Grande do Sul. The total... Continue Reading →
The net profit of the oil company Enauta in 2021 reached the level of R$ 1.4 billion, a record in the company's history. According to the company, the result was driven by the price of Brent oil, the appreciation of low sulfur oil and the recognition of the entire Atlanta field. Another important factor was... Continue Reading →
(OE) Offshore drilling contractor Stena Drilling said in a social media post it was preparing to introduce the newest addition to its drilling fleet, the Stena Evolution drillship. "The Stena Evolution will be a technologically advanced 7th Generation ultra-deepwater drillship, and demonstrates Stena Drilling’s continued commitment to driving innovation and performance in the ultra-deepwater sector,... Continue Reading →
(Reuters) Norway's Equinor said on Friday it expects renewable sources to account for about 10% of its energy output in 2030 despite a sharp increase in investment, while oil and gas will make up the remaining 90%. The majority of state-owned company plans to increase gross investments in renewables and low carbon solutions, such as... Continue Reading →
ffshore drilling companies Noble Corporation and Maersk Drilling, which are set to merge, on Friday announced executive management team for the combined company. The executive management team appointments will be effective after the closing of the business combination announced on November 10, 2021. "The combined company will have a proven management team led by Robert... Continue Reading →
(Reuters) - Brazil's Braskem (BRKM5.SA) said it expects a slight growth in sales of petrochemical products and high margins, despite oil price volatility as a result of the Ukraine crisis. Braskem had on Wednesday reported a 51% rise in revenue and a 53% rise in cash generation in the fourth quarter over the same period a year... Continue Reading →
Petrobras started the licensing process for the Auri robot, Autonomous Underwater Riser Inspection, a technology patented and developed by Petrobras in partnership with PUC-Rio. Equipped with high resolution cameras and remotely operated, the AURI is able to identify, with high precision, maintenance needs in the flexible pipelines that transport oil from subsea facilities to production... Continue Reading →
(Reuters) - The recent spike and then crash in oil prices can be explained by a combination of medium-term fundamentals, the extra strain caused by the disruption of Russia’s oil exports and a severe lack of liquidity. Most bubbles are fuelled in their early stages by medium-term fundamentals, then a short-term trigger, before the market’s... Continue Reading →
Brazil Energy Insight 