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Fuel price hikes in Iran seem inevitable
The Iranian government faces the uphill task of raising prices of heavily subsidised energy carriers to address a wide range of issues including fuel smuggling.
Iran fully commissions second phase of onshore oil field
The Iranian Central Oil Fields Co. (ICOFC) has completed the second development phase of an onshore oil field in western Iran, adding 11,000 more barrels to the country’s daily crude output, the ICOFC director said.
Poland’s renewable energy company Polenergia reports net profit in Q3
Warsaw-listed Polish renewable energy company Polenergia posted an adjusted net profit of PLN43.9mn (€10mn) in the third quarter, a changeover from a net loss of PLN11.3mn in Q3 2022, the company said in a market filing.
COP28: UAE’s renewables champion Masdar is more bark than bite
As world leaders gather in the the United Arab Emirates (UAE) capital of Dubai for the COP28 energy summit, its national renewables champion Masdar is showcasing its achievements. The only trouble is that the company is not as big as it claims to be.
Mongolia announces record-breaking 60mn tonnes of coal exports
Mongolia has already exported a record-breaking 60mn tonnes of coal this year, local media reported on November 24, citing data from the National Committee for the Revival of Border Ports.
US court suspends enforcement of Argentina's $16.1bn payment to YPF plaintiffs
US District Judge Loretta Preska suspended the enforcement of a $16.1bn ruling against the Argentine government in a case concerning the nationalisation of state oil firm YPF.
Ukraine targeted with 75 Russian drones in biggest attack ever
Ukraine was struck by an attack of 75 drones on the night of November 24, the biggest single attack ever, but air defences managed to shoot down 71, Kyiv reports.
Argentina's president-elect selects new YPF chief
Argentina’s president-elect Javier Milei has selected Horacio Marín to be the next president and CEO of state oil firm YPF, a spokesperson for Milei’s La Libertad Avanza party confirmed
Petrobras, Shearwater sign deal for seismic exploration
Brazil’s state-owned energy major Petrobras and Norwegian marine seismic services firm Shearwater have sign a deal to jointly research seismic exploration and field developments, Offshore Engineer reported on November 22.
Trinidad company sees rise in freight forwarding demand in Guyana
The managing director of Trinidadian freight forwarding services Cargo Consolidators Agency has revealed that his company has seen an uptick in demand in the Guyanese market.
Guyana FPSO builder seeks supplier for water quality testing services
Guyana Deep Water Operations Incorporated (GDO), the local subsidy of FPSO builder SBM Offshore, released a request for proposals (RFP) for a supplier of water quality testing services for both the company’s onshore and offshore needs in Guyana.
US calls on oil companies to limit operations in Venezuela despite sanctions easing
The temporary easing of sanctions on Venezuela's oil sector must not be viewed as an endorsement for a full-scale resumption of operations, US Treasury officials have warned.
Subsea7 awarded decommissioning contract in Brazil
Subsea7 has announced the award of a sizeable contract by Shell for the decommissioning of subsea infrastructure associated with the FPSO Fluminense in the Bijupira and Salema fields of the Campos Basin, at 700m water depth.
BW Energy concludes acquisition of FPSO Cidade de Vitoria in Brazil
BW Energy has finalised the acquisition of the floating production storage and offloading (FPSO) Cidade de Vitoria from Saipem which is set to bolster oil production capabilities offshore Brazil.
Guyana EPA confirms no impact study needed for solar farms
Guyana’s Environmental Protection Agency confirmed that no impact study will be required for the construction of eight solar farms as part of the government’s Guyana Utility-Scale Solar Photovoltaic Programme (GUYSOL).
Petrobras CEO under increasing pressure on gasoline prices, investment plans
Dissatisfaction with Petrobras CEO Jean Paul Prates is growing within President Luiz Inacio Lula da Silva's government, with calls for the company to align more closely with inflation-fighting measures and economic stimulus.
Guyana's minister of natural resources reveals name of sixth FPSO
Guyana's sixth floating production storage and offloading (FPSO) vessel has been named Jaguar. The vessel, set to boast a production capacity of 275,000 barrels, will be used in ExxonMobil’s upcoming Whiptail development.
Mexico Pacific and the state of Chihuahua partner on Sierra Madre pipeline
Mexico Pacific and the government of Chihuahua have signed a collaboration agreement to propel the development and operation of the Sierra Madre natural gas pipeline.
Mexico's climate commitments criticised, urgent shift to renewables needed
Climate Action Tracker has issued a cautionary note at PreCOP28, stating that Mexico's endeavours in clean energy are falling short of global climate commitments. Experts stress the need for transparency and a swift transition to renewable energies.
Pemex’s Dos Bocas refinery expects profitability in 20 years, executive says
The Dos Bocas oil refinery, a flagship project for the Mexican government in the energy sector, is projected to become profitable in 20 years. Yet concerns persist regarding its ability to meet production targets.
EBRD to extend €100mn loan to ING Turkey
Mexican state of Tamaulipas secures nearly $19bn for hydrocarbon investments
The Mexican state of Tamaulipas has secured $18.96bn in investments from national and foreign oil companies for the hydrocarbons sector. This figure is expected to increase as more development plans in northeast Mexico are finalised.
Colombia and Venezuela explore oil and electricity collaboration
Colombian President Gustavo Petro announced potential collaboration between state oil company Ecopetrol and Venezuela's PDVSA oil company, while his Venezuelan counterpart expressed interest in importing Colombian electricity.
Output growth expected in western Canada with more takeaway
Alberta's oil sands production is once again challenging the existing pipeline capacity, especially to the Pacific Coast. This is a familiar scenario for Canadian producers, but will soon change.
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