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Vallourec was contracted by OneSubsea to supply pipes and connections for the subsea system in the Bacalhau field, in the pre-salt layer of the Santos Basin. The area is at a water depth of 2,050 meters and is operated by Equinor. The products that will be delivered by Vallourec under this contract will be produced... Continue Reading →
(Offshore Energy) In light of Russia’s attack on Ukraine, the European Commission has proposed an outline of a plan, which is supposed to make European Union member states independent from Russian fossil fuels well before 2030, starting with gas. This could reduce Europe’s demand for Russian gas by two-thirds before the end of the year.... Continue Reading →
(OE) The UK on Thursday announced sanctions, including a full asset freeze and travel ban, against seven oligarchs including Russian oil company Rosneft's CEO Igor Sechin and Gazprom's CEO Alexey Miller, over the Russian invasion of Ukraine. The UK government said that in an effort to "to isolate Putin and those around him, these oligarchs... Continue Reading →
(Reuters) - A second day of interministerial meetings in Brazil to discuss proposed fuel subsidies ended without a decision on Wednesday, four government sources said, as focus shifts to a Senate vote changing the calculation of state taxes for fuels. Earlier in the day, President Jair Bolsonaro met with his chief of staff, the energy... Continue Reading →
(Reuters) - Shell (SHEL.L) faces further writedowns from exiting Russia over the country's invasion of Ukraine, it said on Thursday, flagging that it had $0.4 billion in Russian downstream assets as well as the $3 billion in other projects announced previously. The oil major announced on Feb. 28 that it would quit its ventures in Russia with... Continue Reading →
(Offshore Energy) The Curaçao-based international holding company, HAL Holding, has announced an intended all-cash voluntary public offer of €32.50 per ordinary share for all issued ordinary shares in the capital of Royal Boskalis Westminster N.V. HAL has been a shareholder of Boskalis since 1989 and currently holds 46.2 per cent of the issued Boskalis shares.... Continue Reading →
(Reuters) - Within hours of Moscow launching its invasion of Ukraine, BP’s chief executive summoned his senior team to discuss the limited options for its Russian operations, including separating the British energy giant’s stake in Russian oil firm Rosneft or exiting completely, according to three senior BP executives. Bernard Looney made it clear at the... Continue Reading →
(Reuters) - Oil prices plunged over 17% on Wednesday after the United Arab Emirates said the OPEC member would support boosting supply into a market in disarray because of supply disruptions caused by sanctions imposed on Russia after it invaded Ukraine. Brent crude fell more than 17%, or $22, during a sharp selloff before recovering... Continue Reading →
(Portos e Navios) PetroRio, an independent oil and gas company, recorded a production record in February, with 35,671 barrels/day. It is the highest average monthly amount for the company. The highlight was the Polvo – Tubarão Martelo cluster, which had a production increase of over a thousand barrels/day. The better operational performance of the FPSO... Continue Reading →
(PetroleoHoje) Açu Petróleo signed with Petrobras and Transpetro the first infrastructure sharing agreement for crude oil. Focused on the Osduc network (Cabiúnas-Reduc), the operation will enable the connection of the future line that will interconnect the Oil Terminal, in Porto do Açu, in São João da Barra (RJ), to the Cabiúnas Terminal, located in Macaé... Continue Reading →
Brazil Energy Insight 