Brazil's Petrobras could include Colombia gas project into 2027-2031 plan.
Petrobras, Brazil's state oil company, may include the Sirius offshore gas project in Colombia as part of its production curve that will be revealed later this year in the 2027-2031 Business Plan. She said that Petrobras had'made progress towards obtaining the licence,' but still needed to 'conclude consultations with local community members.
The Iranian war has prompted LNG buyers and suppliers to seek greater diversity in their supply.
As the US-Israeli war against Iran reduces Gulf shipments, LNG buyers are looking for 'alternatives' to the fuel. These suppliers range from West Africa to Indonesia. During last week's Gastech Conference, industry executives and officials said that while Asian governments are looking to lock in LNG sellers who have access to different sources…
Chile considers ethanol-gasoline mix as government searches for cheaper fuels amid fiscal pressures
Documents seen by. According to a memo from ministry officials, the energy ministry has developed a proposal to switch to E10 ethanol blend -- blending 10% ethanol into gasoline -- which could reduce government fuel costs by $107 million per year. OPEC data showed that Chile would import 181,000 barrels of crude oil per day in 2025. The U.S. and Israeli war against Iran has seen oil prices soar.
Brazil environmental agency clears Petrobras to drill additional Foz do Amazonas wells
According to a document seen by us on Friday, Brazil's Ibama environmental agency authorized the state-owned oil company Petrobras drill three new deep wells in the Foz do Amazonas basin. Petrobras has made a recent oil discovery in an environmentally sensitive region off the coast of Brazil. The new wells will determine whether the?oil is commercially viable.
Shell Acquires Stake in BP's Conifer Prospect in the Gulf of Mexico
Shell Offshore, a subsidiary of British oil and gas major Shell SHEL.L, said on Wednesday it would acquire a 30% stake in the BP-operated Conifer exploration prospect in the Gulf of Mexico.Shell and BP are prioritizing long-term growth in their oil and gas portfolios after years of investing heavily in renewables and other lower-carbon…
Dealers say that India's imports of soyoil and palm oil reached a record high in August, as well as a six-month high.
Five dealers said that Indian refiners imported the largest amount of palm oil in six months and a record volume of soyoil during August to build stocks for 'the festival season. The world's largest importer of vegetable oil, Indonesia, Malaysia and Argentina could benefit from higher palm oil and soyoil purchases by helping top producers…
Brazil's eucalyptus sector faces uncertainty due to delayed curbs on the use of native wood fuel
A reforestation association said that an agreement to phase out the use of native forest wood in Brazil's corn-ethanol plants for energy production has been put on ice, creating uncertainty for investment?into eucalyptus?plantations. Otaviano Pivetta has put the agreement between the Mato Grosso state government and the local prosecutor on hold.
China's CNOOC records record profit in the first half of this year on higher oil prices and output
CNOOC Ltd, a Chinese offshore oil-and-gas major, posted a record net profit for the first half of 2012 on Wednesday. Higher oil prices resulting from the Iran War?and increased production helped to boost earnings. According to a filing at the Hong Kong Stock Exchange, net?profits attributable to investors?rose by 23.4% from 69.5 billion to 85.8 billion ($12.9 billion).
India's sugar refiners and mills are seen importing only half of the duty-free quota
Indian sugar refiners and mills will likely import less than half of the 1,000,000 metric tons (or 500,000 metric tonnes) of?raw sugar that the government has permitted duty-free. This is because falling domestic sugar prices have reduced the profitability for imports. Last week, the world's largest sugar consumer allowed duty-free imported until October 31…
Sinopec, a Chinese refiner, will increase oil imports outside of the Gulf
Sinopec, the Chinese oil refiner, will source more of its 'oil' from Brazil, Africa, and other countries to combat supply disruptions caused by Middle East conflict. This was announced on Monday after announcing Sunday's interim results. Sinopec's first-half profit rose 19% despite the disruptions in oil supplies and the government's restrictions on passing on higher oil prices to consumers.
Petrobras begins negotiations to acquire four offshore blocks within Ghana's Keta Basin
Petrobras, the state-run oil company of Brazil, announced on Friday that it had submitted a?expression?of?interest?for exploration blocks in Ghana and started negotiations. Petrobras reported that the Ministry of Energy and Green Transition of West Africa had approved Petrobras' application to negotiate contracts for exploration of four offshore?blocks within the Keta Basin.
Brazil's Petrobras finds hydrocarbons in Foz do Amazonas basin
Petrobras, Brazil's state-run oil firm, announced on Friday that it had found hydrocarbons in an exploratory well located off the coast of the Atlantic Ocean near the Foz do Amazonas Basin. In a filing with the Securities and Exchange Commission, the company said that drilling operations are still underway in this environmentally sensitive area.
VEGOILS-Malaysian palm oil rises, tracking Dalian
Malaysian palm oils futures rose Thursday after reversing their losses at midday, following the Dalian exchange's rival edible oils, as the market awaited more catalysts. The benchmark palm oil contract for October delivery on the Bursa Malaysia derivatives exchange gained 27 ringgit or 0.57% to 4,724 Ringgit ($1,156.43). A Kuala Lumpur based trader stated that the future will likely be traded between 4…
MORNING BID AMERICA-Inflation obscures everything
What's important in U.S. and Global Markets Today By?Mike Dolan Editor-at-Large Finance and Markets. It's inflation-day stateside, a moment of importance?for Federal Reserve thought, and for the nervy bonds markets. Fair enough, the consumer price index is only one of three "inflation" days each month. Tomorrow, the Fed will release its preferred PCE gauge and tomorrow the producer price report.
Dealers say that India's edible oils imports reached a 10-month high in July due to increased palm oil buying.
Five 'dealers' said that India's edible oils imports rose to the highest level in ten months in July, as refiners increased their?purchases? of palm oil and soybean oil to replenish?inventory ahead...of the festival season?amid tightening...domestic supplies. The world's largest importer of vegetable oil could be helping top producers…
US LNG exports stagnate in July despite higher LNG price
The 'July rally' in gas prices was not able to be seized by American LNG producers as maintenance and a seasonally lower output kept export volumes virtually unchanged. According to preliminary data, U.S. liquefied gas exports fell to 10,48 million metric tonnes (MT) from 10,6 MT in the previous month. The summer is a time when exporters…
As El Nino threatens, hydropower plants in the south of Brazil prepare for heavy rainfall
Generators are reviewing their plans to deal with large volumes of water. Scientists believe that a severe El Nino will occur in the next few months. The Brazilian units of China Three Gorges and French Engie, two of the largest dam operators in Brazil, have said that they are preparing for a number of things, including spillway testing to ensure that dams operate safely…
Baker Hughes predicts lower oil and gas spending in 2026
Baker Hughes announced on Monday that it expects global oil and gas spending to be down modestly in 2018. The company said this is due to a decline in spending in Europe, the Middle East, and offshore Africa. The energy markets have been affected by the repeated flare-ups in the conflict between Iran and the U.S., which has forced producers to adopt a more cautious approach instead of increasing drilling activities.
Baker Hughes predicts lower oil and gas spending in 2026
Baker Hughes announced on Monday that it expects global oil and gas producers to reduce their annual spending modestly in this year. The growth in Latin?America and offshore Africa will be offset by lower spending in?European and Middle Eastern countries. This year, the Middle East conflict has dominated the energy market. The repeated escalation of tensions between Iran and the U.S.
Palm oil reaches 15-week peak, posting third weekly gain
The price of Malaysian palm oil futures rose to a 15 week high on Friday. This was a result of a strong oil price and the rebound in Dalian palm olein futures. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for October delivery gained 13 ringgit or 0.28%. It was trading at 4,723 Ringgit ($1,155.33). Futures recorded a weekly gain of 2.74%.