(PetróleoHoje) Shell and the BW Offshore / Saipem consortium are close to concluding the contracting of the FPSO of Gato do Mato, a unit that should start operating between 2024 and 2025. Sources involved confirmed to PetróleoHoje that, after months of negotiations, Modec is out of the process and that the award of the contract... Continue Reading →
Vaalco brings online the first of four wells in Gabon drilling campaign
Houston-based Vaalco Energy has completed its first of four wells in the 2021/2022 drilling campaign offshore Gabon and brought it into production with strong initial flow rates. The Etame 8H-ST development well was drilled from the Etame platform in the Etame field. This sidetrack well targeted existing Gamba hydrocarbons in the field that have not... Continue Reading →
Offshore Wind Farms Could Help Capture Carbon from Air and Store It Long-term – Long Read
(OE) Off the Massachusetts and New York coasts, developers are preparing to build the United States’ first federally approved utility-scale offshore wind farms – 74 turbines in all that could power 470,000 homes. More than a dozen other offshore wind projects are awaiting approval along the Eastern Seaboard. By 2030, the Biden administration’s goal is to have 30 gigawatts of offshore... Continue Reading →
EXCLUSIVE: U.S. weighs Chevron request to take Venezuela oil for debt payments
(Reuters) - The Biden administration is considering a Chevron Corp (CVX.N) proposal to allow the U.S. oil major to accept and trade Venezuelan oil cargoes to recoup unpaid debt, four people close to the discussions said. Chevron representatives in recent months held at least one high-level meeting with U.S. diplomats along with Venezuelan opposition envoys, according to... Continue Reading →
Petrobras Refinery Capacity Reaches 88%
Petrobras reached an average of 88% of total load factor of its refineries in the last three months of 2021. In early February, it reached close to 90%. Operational decisions in refining take into account that, for each barrel of oil processed in the refinery, necessarily, several products are generated and subsequently distributed. For example,... Continue Reading →
Petrobras concludes the sale of E&P assets in Alagoas
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 06/30/2021 and 07/05/2021, informs that today it concluded the sale of its entire stake in seven concessions denominated Alagoas Cluster, located in the state of Alagoas, to the company Origem Energia S.A (former Petro+). The operation was concluded with the payment of US$... Continue Reading →
Petrobras on UFN III sale process
Petróleo Brasileiro SA – Petróleo Brasileiro SA – Petrobras, following up on the release disclosed on 02/21/2020, informs that it has reached an agreement for the draft of the Sale and Purchase Agreement for the sale of 100% of its Nitrogen Fertilizer Unit III (UFN-III), located in the city of Três Lagoas, Mato Grosso do... Continue Reading →
Constellation Signs New Contract with India’s ONGC
Constellation secured a new charter contract for Olinda Star. The Brazilian group closed a deal with ONGC, guaranteeing 16 months of chartering, after presenting a best price in the bidding conducted by the oil company. The two companies signed a letter of intent at the end of January, but the rig should only start operating... Continue Reading →
Saipem Names Eni’s Puliti General Manager
Italian energy services firm Saipem, which on Monday issued a profit warning that sent its shares down to historic lows, on Friday appointed Eni's Alessandro Puliti as General Manager of the company. Born in Florence in 1963, Puliti has served as General Manager of the Natural Resources Division at the Italian oil firm Eni, Saipem's... Continue Reading →
Solstad Offshore Bags $45,8M Worth of Deals for CSV Quartet
Norwegian offshore vessel operator Solstad Offshore has secured several contracts for its construction support vessels. The contracts, for deployment in the North Sea, Brazil and West Africa, will have a combined total length of 640 days, with additional extension options available upon expiration. The total value of the contracts, which will see Solstads CSVs Normand Maximus, Normand... Continue Reading →
Brazil Energy Insight 