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(Reuters) - Mexico's Petroleos Mexicanos (Pemex) said on Tuesday it would drastically reduce planned crude exports next year as the state oil company works to meet the government's target of refining all of its oil domestically. Pemex Chief Executive Officer Octavio Romero projected that its crude exportswould fall to 435,000 barrels per day (bpd) in... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras has partnered with fuel distributor Vibra Energia SA (VBBR3.SA) to test its new renewable diesel made partly from edible oils, it said in a statement on Tuesday. Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said the fuel will be tested starting next month by fleet owner Auto Viacao... Continue Reading →
Using digital transformation to mitigate risks and increase performance of offshore rigs(OE) Floating production storage and offload vessels (FPSOs) are among the largest investment trade-offs an oil and gas producer will make. On the one hand, these immense vessels offer the promise of exponentially increased production and storage flexibility over onshore counterparts. On the other,... Continue Reading →
(OffshoreEnergy) Fortune Business Insights, a market research company, expects the increased number of initiatives to boost production from ageing wells and oil and gas discoveries to drive growth in the global well intervention market. The firm reported on Thursday that the global well intervention market is set to gain traction from the increasing demand for energy and... Continue Reading →
From being an ugly duckling, floating offshore wind is now the Cinderella of the offshore renewables world. Attention is now being paid to floating and even subsea substation concepts to help bring this power to shore. (OE) Over the past year, expectations around the growth in the floating offshore wind development have grown, significantly. Many... Continue Reading →
(OE) As an industry central to global energy supply, many consumers may believe that the oil and gas sector is relatively resistant to fluctuation. However, amid the myriad pressures felt throughout the global economy over the past year and a half, new challenges are arising for oil and gas operators, some of which require a... Continue Reading →
The Brazilian Environmental Institute (Ibama) granted the operating license to TotalEnergies to drill new wells in block C-M-541, in the Campos Basin. Valid for 5 years, the license authorizes the drilling of two exploratory wells (Marolo and Ubaia) and another three contingency wells by means of the Valaris DS-15 drillship. The license issued by Ibama... Continue Reading →
(Reuters) - Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week. Brent crude rose by $1.04, or 1.3%, to $79.64 a barrel by 1119 GMT. U.S. West Texas Intermediate... Continue Reading →
(Reuters) - A South African high court on Tuesday blocked Shell (RDSa.L) from conducting seismic testing offshore from South Africa's pristine Wild Coast, in the latest ruling in a case seeking to prevent the oil major from exploring for oil and gas. On Dec. 3 a different high court order gave Shell the go-ahead to conduct an... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the releases disclosed on July 09, 2021 and August 09, 2021, informs that today it signed a contract with Aguila Energia e Participações Ltda (Aguila) for the assignment, together with Sonangol Hidrocarbonetos Brasil Ltda (Sonangol), of the total interest of both companies in the onshore exploratory block... Continue Reading →
