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Italian oil company Eni has started oil production via the Miamte FPSO at the Miztón field, offshore Mexico The field sits in Area 1 in the Gulf of Mexico, about 10 kilometers offshore the Tabasco coast. Upon its arrival in Mexico in January 2022, Miamte FPSO has been connected to its Mooring System and... Continue Reading →
(Bloomberg) -- After watching big banks curtail lending and asset managers pare bets, fossil fuel producers are now losing access to some of Wall Street’s deepest pockets. Blackstone Inc., once a major player in shale patches, is telling clients its private equity arm will no longer invest in the exploration and production of oil and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/22/2022, informs that it has signed today with the company Seacrest Petróleo SPE Norte Capixaba Ltda., a wholly owned subsidiary of Seacrest Exploração e Produção de Petróleo Ltda., a contract for the sale of its total interest (100%) in a set of 4... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it released today the new edition of its Climate Change Supplement. The document details information regarding Petrobras' emissions performance in 2021, in addition to the progress made in indicators related to sustainability commitments. It shows how climate change is reflected in the company's strategies and decarbonization initiatives to... Continue Reading →
Energy intelligence group Rystad Energy expects the gas output from Sub-Saharan Africa to double by 2030, driven by the development of offshore deepwater resources. Untapped natural gas supplies in Sub-Saharan Africa are set to be unleashed this decade, with output more than doubling from 1.3 million barrels of oil equivalent per day (boepd) in 2021... Continue Reading →
The largest-ever U.S. sale of offshore wind development rights - for areas off the coasts of New York and New Jersey - attracted a record $1.5 billion in bids on Wednesday, supporting President Joe Biden's plan to create a new domestic industry. The auction, which will continue on Thursday, is the first offshore wind lease... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras smashed its all-time record for annual profits and dividend payouts in 2021, as sky-high Brent prices and a laser focus on the firm's exploration and production business continued to bear fruit. In a Wednesday evening securities filing, the firm, formally Petroleo Brasileiro SA , posted a yearly net... Continue Reading →
TechnipFMC has gathered over $6.7 billion in inbound orders in the financial year 2021, a 33.4% increase from the $5 billion in 2020, according to the company’s latest results. The company’s chair and CEO Doug Pferdehirt said that 2021 was a breakout year for TechnipFMc as the full-year adjusted EBITDA was $580 million with a... Continue Reading →
(Reuters) Italian energy services group Saipem pledged on Thursday to cut costs and focus more on its traditional offshore business after it reported a swing to a core operating loss for the last year. Saipem said its adjusted core earnings, or EBITDA, were negative to the tune of 1.192 billion euros ($1.34 billion). That compares... Continue Reading →
French oil major TotalEnergies said Thursday it had made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia. TotalEnergies said that its Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir.... Continue Reading →
Brazil Energy Insight 