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(Reuters) - The rally in liquefied natural gas (LNG) prices has widened the gap with oil prices and could boost oil demand by 400,000 barrels a day (bpd) on average over the next two quarters, according to research by consultancy Rystad Energy. The average LNG price for November delivery into Northeast Asia was estimated at... Continue Reading →
(Reuters) - Global energy trader Gunvor Group (GGL.UL) is under investigation by the U.S. Commodity Futures Trading Commission (CFTC) in relation to its dealings in Ecuador, the company said in its first half 2021 results. Earlier this year, former employee Raymond Kohut pleaded guilty to involvement in what the U.S. Department of Justice called a... Continue Reading →
DNV introduced a new class notation, Abate, designed to help owners and operators of offshore floating facilities identify and implement measures to reduce greenhouse gas (GHG) emissions. Altera Infrastructure, the first company to adopt the solution, has incorporated the notation into the FPSO "Petrojarl Knarr", with successful results so far. The International Maritime Organization (IMO)... Continue Reading →
Brazilian oil firm Enauta has said production from the Manati offshore field in Brazil was stopped preventively on Monday due to small gas leakage in the inland pipeline between the compression station and the gas treatment station. "The operator is assessing the causes of this incident, resumption still will be estimated. The Company will keep... Continue Reading →
(Reuters) - Brazil's central bank weighed accelerating the world's most aggressive monetary tightening, minutes from its last policy meeting showed on Tuesday, but uncertainty about a post-pandemic rebound led it to stay the course on 100-basis-point rate hikes. The minutes of the Sep. 21-22 meeting, when the bank raised its Selic policy rate to 6.25%,... Continue Reading →
(PetroNoticias) Eneva inaugurated the Azulão Gas Treatment Unit (UTG), which is part of the Azulão-Jaguatirica integrated project, in the city of Silves, in the interior of Amazonas. This is the first gas producing area in the Amazon Basin. Azulão was discovered by Petrobras in the 1990s and declared commercial in 2004, but had never produced.... Continue Reading →
(Reuters) - Brazilian petrochemical producer Braskem (BRKM5.SA) said on Tuesday its Mexican subsidiary Braskem Idesa has reached a new gas supply agreement with Petroleos Mexicanos (Pemex) (PEMX.UL) to settle pendencies between the companies and build a new ethane terminal. According to a securities filing, the new terminal for ethane imports would fulfill Idesa's needs for the raw... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) plans to buy back $1.5 billion of its shares in the fourth quarter and boost its investment in renewable energy with the help of high oil prices, the French energy major said on Tuesday. "TotalEnergies is confident in its ability to combine energy transition and shareholder return, thus creating long-term shareholder value," the... Continue Reading →
From a colossal wind farm floating amid choppy ocean waves to hundreds of solar panels on the surface of a dammed reservoir, Portugal is exploring innovative ways to boost renewable energy. Mass use of such projects may still be too pricey, but trailblazers like Portugal stand to benefit when costs ease. Bathed in sunshine all... Continue Reading →
Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which hit factory output tempered the rally. Brent crude futures gained 67 cents, or 0.8%, to $80.20 a barrel at 1016 GMT, after reaching their highest level since October 2018 at $80.75.... Continue Reading →
