In September, pre-salt oil and natural gas production totaled 2.85 million barrels of oil equivalent per day (boe/d), representing 74.10% of the national total (3.84 million boe/d) . It was the biggest historical record of monthly production in the Pre-salt, both in absolute terms and in percentage of participation in the country's total production. The... Continue Reading →
Green hydrogen to account for 20% of European power demand by 2050 -Statkraft
(Reuters) - Hydrogen produced from renewable energy sources will account for 20% of Europe's power consumption in 2050, and for 10% globally, a report published by Norwegian power company Statkraft on Thursday showed. Green hydrogen is produced by splitting water molecules with a current of renewable electricity in electrolysers. The gas is touted as a... Continue Reading →
EXCLUSIVE U.S. slows down oil and gas mergers-sources
(Reuters) - U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden's administration scrutinizes deals in a bid to tackle soaring energy prices, according to regulatory filings and corporate lawyers. The slowdown comes amid growing pressure on policymakers... Continue Reading →
Oil prices hit seven-year high on surprise drop in U.S. stockpiles
(Bloomberg) --Oil hit a fresh high after a U.S. government report showed an unexpected drop in crude stockpiles, allaying concerns that higher prices would blunt demand. Futures in New York rose 1.3% to a fresh seven-year high, after earlier falling as much as 1.2% on Wednesday. Domestic crude inventories fell 431,000 barrels last week, according... Continue Reading →
Bourbon embarks on fleet transformation with 40 crew transport vessels in the works
French vessel owner and offshore services provider Bourbon has revealed plans to build 38 more new units after the first two crew boats from its new Bourbon Surfer-200X series completed their sea trials. Bourbon’s two new crew transport vessels in the Surfer-200X series have completed their sea trials off the Normandy coast in France. The vessels will... Continue Reading →
Petrobras – Highlights on production and sales in 3Q21
Petrobras - In 3Q21, we continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached 2.83 MMboed, 1.2% above 2Q21, mainly... Continue Reading →
Exxon board debates dropping several major oil and gas projects – WSJ
(Reuters) - Exxon Mobil Corp (XOM.N) board is debating whether to continue with several major oil and gas projects amid a global push from investors for fossil fuel companies to be more cost-conscious and green-energy friendly, WSJ reported on Wednesday. Activist investor Engine No. 1 in May shocked the oil-and-gas industry when three of its four nominees... Continue Reading →
Peru’s state-owned oil company plans return to production for first time since 1990s
(Reuters) - Peru's state-owned Petroperu hopes to once again extract oil in the Andean nation by the end of the year to supply crude to its Talara refinery, the government said on Wednesday. The move, under new socialist President Pedro Castillo, signals a return to oil production for Petroperu after more than two decades focused... Continue Reading →
‘We don’t have water’: South American dam faces energy crunch as river ebbs
(Reuters) - The giant Itaipu hydroelectric power plant, wedged between Paraguay and Brazil on the Parana River, is facing an energy crunch amid record low river and rainfall levels that experts say could last into next year. The Itaipu dam, which supplies around 10% of the energy consumed in Brazil and 86% of that used... Continue Reading →
Big fossil fuel producers’ plans far exceed climate targets, U.N. says
(Reuters) - Major economies will produce more than double the amount of coal, oil and gas in 2030 than is consistent with meeting climate goals set in the 2015 Paris accord to curb global warming, the United Nations and researchers said on Wednesday. The U.N. Environment Programme's (UNEP) annual production gap report measures the difference... Continue Reading →
