China's national offshore oil and gas producer CNOOC Ltd reported on Thursday its first-quarter revenue surged 21% on year on recovering oil and gas prices and higher sales. Revenue was 48.34 billion yuan ($7.45 billion) over the January-March period. Realized oil prices rose 20.5% to $59.07 per barrel, while gas prices were up 5% on... Continue Reading →
Carney, Kerry launch global finance plan to boost climate action
(Reuters) UN climate envoy Mark Carney and U.S. peer John Kerry on Wednesday announced a new plan to boost efforts by the financial system to help move the global economy to net zero greenhouse gas emissions. While many large banks, insurers and asset managers have started to commit to some form of action, the frameworks... Continue Reading →
Former Enron Trader Sees Change in Houston Oil Patch
(Bloomberg) -- For John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, Houston’s fossil-fuel industry seems finally ready to move on. A year ago, talk in the Texas energy hub was mostly about defending oil and gas and denouncing renewables, Arnold, 47, said Monday on his Twitter account. Now, much of the... Continue Reading →
Global oil demand to peak in 2026 -Rystad Energy
(Reuters) The rapid adoption of electric vehicles (EV) around the world will probably cause global oil demand to peak two years earlier than previously expected, Norway's biggest independent energy consultancy Rystad said on Wednesday. World demand is now seen peaking at 101.6 million barrels of oil per day (bpd) in 2026, down from a forecast... Continue Reading →
EIG COMPLETES SALE OF TBG’S PARTICIPATION TO BELGIAN GROUP FLUXYS
(PetroNoticias) EIG Global Energy Partners concluded the sale of its 27.5% stake in Transportadora Gasoduto Bolivia-Brasil (TBG). The stake was negotiated with the Belgian group Fluxys, active in the natural gas infrastructure sector. The deal was announced by the two companies in January this year, but the transaction figures have not been revealed. With the... Continue Reading →
Scheduled for December 2021, CNPE approves parameters for bidding in Sepia and Atapu
(MME) The National Energy Policy Council (CNPE) approved the technical and economic parameters for the Second Bidding Round for the Excessive Volumes of the Transfer of Rights of the Atapu and Sépia Fields. The parameters chosen are derived from robust studies that involve geophysical, geological, reservoir and economic modeling, followed by a multicriteria approach to... Continue Reading →
PPSA -February production under Sharing regime contracts
(TNPetroleo) The accumulated production since 2017, in the three contracts under a sharing regime, reached 50.4 million barrels of oil in February. The Mero Development Area was responsible for 68% of the production in the period. The total accumulated share of the Union's oil surplus has stood at 8.3 million barrels of oil since 2017.... Continue Reading →
Fugro Assisting Jumbo with Mero 1 Offshore Work in Brazil
Dutch offshore services provider Fugro has won a deal with offshore transportation and installation firm Jumbo Maritime to provide providing positioning and construction support services on the Mero 1 deepwater field development, offshore Brazil. Using its navigation suite and augmented reality camera system Fugro is supporting Jumbo in the installation of 35 subsea torpedo piles and... Continue Reading →
TechnipFMC Awarded a Significant Subsea Contract for Petrobras’ Marlim and Voador Fields
(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) today announced that it has been awarded a significant(1) subsea contract from Petrobras (NYSE: PBR) for the Marlim and Voador fields, located offshore Brazil. “We are very excited to bring new technology and automation capabilities to this project through the use of the RVC to operate the manifolds. Our innovations... Continue Reading →
Baker Hughes sticks to oilfield activity recovery prediction after weak quarter
Oilfield equipment and services provider Baker Hughes Co (BKR.N) top boss on Wednesday reiterated he is "cautiously optimistic" about oil demand recovering this year from the coronavirus blow, echoing a view he shared on the company's last earnings call. The company reported a 40% fall in first-quarter adjusted profit, compared to the fourth, as the pandemic's hit... Continue Reading →
