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Colombia received bids for 30 blocks from seven companies during its latest oil and gas auction, the government said on Wednesday, as the Andean country looks to maintain energy self-sufficiency amid a drive to develop renewable sources. The bids have a combined estimated investment value of just over $148.5 million. Colombia counts on the oil... Continue Reading →
(Reuters) - OPEC and its allies will decide on Thursday whether to release more oil into the market or restrain supply amid big gyrations in crude prices, a U.S. release from oil reserves and fears over the new Omicron coronavirus variant. Brent oil prices tumbled to around $70 a barrel, down from October's three-year highs... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that today, for the fifth time in a row, it received the certification in the Governance Indicator of the Secretariat for Coordination and Governance of State-Owned Companies (IG-Sest), of the Ministry of the Economy, achieving classification in the indicator's best level - Level 1, which shows the company's degree... Continue Reading →
(Reuters) - Brazilian Economy Minister Paulo Guedes said on Wednesday that state-run oil company Petrobras (PETR4.SA)should be privatized before it becomes irrelevant and oil loses value, suggesting the government could use the sale proceeds to reduce poverty. Citing the ongoing processes to privatize state-run power company Eletrobras (ELET6.SA) and postal-service firm Correios, Guedes said the same rationale for... Continue Reading →
U.S. energy major ExxonMobil has finalized its corporate plans, which increase spending to $15 billion on greenhouse gas emission-reduction projects over the next six years while maintaining disciplined capital investments in its portfolio. Exxon has also increased its annual dividend payment for the 39th consecutive year. As explained by ExxonMobil on Wednesday, the plans support... Continue Reading →
TotalEnergies has spudded the Venus-1X offshore exploration well in Namibia's Block 2913B (PEL 56). The well, seen as potentially transformational for the Namibian oil industry, is being drilled in 3,000 meters water depth. The news of the drilling operation start-up was shared Wednesday by Impact Oil and Gas, which owns a 20% interest in Block... Continue Reading →
(Reuters) - Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant. U.S. West Texas Intermediate (WTI) crude futures rose 78 cents, or 1.2%, to $66.96 a barrel... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 03/24/2021, informs that today it has completed the sale of the Landulpho Alves Refinery (RLAM) and its associated logistical assets, located in the state of Bahia, for MC Brazil Downstream Participações, a company of the Mubadala Capital group. After the fulfillment of all... Continue Reading →
With the increase in the activity of thermoelectric plants in 2021, Wilson Sons registered in the last 10 months a record of ship-to-ship operations (STS). The Company's towage unit operated in more than 15 operations to transfer liquefied natural gas (LNG) from gas tankers to Floating Storage Regasification Units (FSRU): most of which took place... Continue Reading →
Offshore accommodation rig provider Floatel International believes that the demand for accommodation rigs is starting to recover but, due to market oversupply, it still remains below levels in late 2019 before the Covid-19 pandemic, resulting in prices continuing to be under pressure. As a result, Floatel expects the overall utilisation of the accommodation fleet to... Continue Reading →
