By Tsvetana Paraskova for Oilprice.com – After years of uncertainty and stagnation, the offshore drilling market is on the rebound and is in the early innings of an up cycle in investment and activity that will outpace the 2016-2019 cycle, major services and rig providers say. Analysts and top offshore drilling executives say that offshore rig utilization and day rates are also rising in a market that is expected to tighten going forward.Add your comment!
Authorities from Brazil and Paraguay have announced a reduction in the price of energy from the binational Itaipu power plant from US$ 22.60 to US$20.75 per kilowatt.Add your comment!
The energy situation is hitting UK consumers and figures released by the Home Office show that a record number of people stole electricity in England and Wales last year.1 comment
A gruesome fire in Cuba has reached its fourth day. A fuel deposit has been burning since Friday in Matanzas, in western Cuba, in what has already been described as the biggest industrial disaster in the country's history.Add your comment!
With the Ukrainian war still raging and making arrangements ahead of next winter, Germany despite its original pledges and with a coalition that includes the Green party, Chancellor Olaf Scholz has admitted for the first time that the country could put off the retirement of its nuclear power grid.Add your comment!
The Brazilian market of battery-powered vehicles has crossed the psychologically relevant threshold of 100,000 units in circulation nationwide, as sales of this type of vehicle grew 47% yoy in the first semester of 2022, it was reported.
Brazil oil sales to India and China in the first half of 2022 have fallen considerably, amid the Ukraine war and a significant increase in crude exports from Russia to the two Asian countries.
According to data from Brazil’s Foreign Trade Secretariat (Secex), in the first half of the year, Brazil exported 36% less oil to China than in the same period last year. Likewise exports to India fell 53.8%.
Positive news for Falklands' oil industry development. All regulatory consents for the transaction between Harbour Energy plc and Israel's Navitas Petroleum LP of its Falkland Islands offshore license interests have been approved by the Falkland Islands government and the United Kingdom minister of state.
Oil exports by Brazilian energy giant Petrobras fell by 28.5% in the second quarter of 2022, to 531,000 barrels per day (b/d), compared to the same period a year ago, the company said in its quarterly production and sales report. The news comes when the country is looking for cheaper opportunities to import diesel fuel from countries currently free of sanctions.
By Dominic O’Connell, The Times- Head north from the Falkland Islands, across the South Atlantic waves where albatross wheels and whales sound, and you pass over what could be a big new oil province — a significant source of hydrocarbons controlled not by sheiks or oligarchs, but by the United Kingdom.