(Reuters) - Countries must increase the use of carbon markets to meet the Paris climate goals of limiting a global rise in temperature to 1.5 degrees Celsius (2.7 Fahrenheit), the Global Financial Markets Association (GFMA) said on Thursday. Global leaders will gather in Glasgow, Scotland, from Sunday for a United Nations climate summit, when negotiators... Continue Reading →
Global green bond issuance could pass $1 trln next year, survey says
(Reuters) - Investors expect global green bond investment to double and reach $1 trillion for the first time in a single year by the end of 2022, a survey by the Climate Bonds Initiative showed on Thursday. The Climate Bonds Initiative, a London-based non-profit body that promotes investment in the low-carbon economy, forecasts that green... Continue Reading →
China CNOOC’s Q3 revenue soars 64%, reaffirms green investment
(Reuters) - CNOOC Ltd's(0883.HK) unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday. The state oil firm said it is mapping out a emission-cutting roadmap together with parent company China National Offshore Oil Company under the broad national framework... Continue Reading →
TotalEnergies says high gas prices could last into spring as profits surge
(Reuters) - TotalEnergies (TTEF.PA) said high gas prices in Europe and Asia could last into spring as the French energy group reported a sharp rise in third quarter earnings on Thursday on surging power prices. The company's third-quarter adjusted net profit soared to $4.8 billion, from just $848 million last year, from core earnings that more than... Continue Reading →
Shell Sets Tougher Climate Targets, Q3 Income Below Expectations
Royal Dutch Shell set itself tougher emissions-cutting targets on Thursday, even as it reported a lower-than-expected third-quarter profit of $4.13 billion. The oil major said it would cut absolute emissions from its operations and the electricity it uses, known as Scope 1 and 2 emissions, by half by 2030 compared with 2016. The company has... Continue Reading →
Hess Sees 1 Million bpd Oil Output from Guyana by 2027
Hess Corp expects to produce more than 1 million gross barrels of oil per day (bpd) in Guyana by 2027 from at least six production units, the U.S. oil producer said on Wednesday. The projection comes shortly after a second floating production system [Liza Unity] arrived in the South American country's waters. Hess added that it... Continue Reading →
Petrobras on E&P assets in the Santos Basin
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on September 8, 2021, informs the beginning of the binding phase referring to the sale of all its stakes in the Uruguá and Tambaú fields, belonging to the BS-500 concession, located in the Santos Basin, in the State of Rio de Janeiro. Potential buyers... Continue Reading →
SAPURA PLSV TO START OPERATION IN THE SANTOS BASIN
Sapura will soon start the execution of a new contract signed recently with Petrobras. The shipping company will operate the PLSV Sapura Diamante vessel in the Santos basin, working mainly on the installation and recovery of flexible pipelines in ultra-deep waters until 2025. According to Sapura, the vessel loaded with around 3,000 tons of lines... Continue Reading →
How to Decarbonize the Upstream Industry
(OE) As the energy transition accelerates, upstream companies are under pressure to decarbonize, and this is likely to intensify. Governments, investors, financial markets, society, along with other stakeholders are pushing for change. Companies need to define their strategy and act to future-proof their business and retain their social licence to operate. There are strategic advantages... Continue Reading →
Brazil’s Bolsonaro again says mulling Petrobras privatization
(Reuters) - Brazilian President Jair Bolsonaro has repeated he is considering privatizing state-run oil company Petroleo Brasileiro (PETR4.SA), saying the company's insistence on passing on higher energy prices to consumers was giving him a "headache." Echoing comments he made earlier this month, as well as remarks as early as 2019 that he viewed the idea of... Continue Reading →
