TotalEnergies has stakes in two fields that are part of the Vaca Muerta shale play but an underdeveloped part. YPF has been very active in the development of other parts of the formation and looking for growth opportunities in what many have called the second-largest shale deposit in the world.
“Adequate inventories and no risk of a coal shortage have helped power plants reduce buying from Coal India,” the former chair of Coal India, Partha Sarathi Bhattacharya, said, as quoted by Reuters. However, “this is transient, and coal buying will increase once power demand starts growing faster,” the former Coal India executive also said.
The UK-based firm said on Monday that it is conducting tests at the site in deep water off Brazil’s east coast. The discovery could play a major role in BP’s plans to increase crude oil production.
“The Argos expansion underpins our commitment to investing in America, growing our U.S. offshore energy production safely and efficiently,” said Andy Krieger, SVP Gulf of America and Canada. “This project also kicks off a period of significant growth for bp in the Gulf of America, which will continue to play a critical role in delivering secure and reliable energy the world needs today and tomorrow.”
Of the total U.S. rig count of 540, 525 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and two are categorized as inland water rigs. The total U.S. rig count is made up of 410 oil rigs, 124 gas rigs, and six miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 471 horizontal rigs, 54 directional rigs, and 15 vertical rigs.
“Our results for the reporting quarter were impacted by a heavy drydocking schedule as well as the market. Volatility, which is ever-present in freight markets, has been more acute in reaction to recent abrupt geopolitical movements. Our bookings for the current quarter are at strong rates, supporting our positive outlook, which is rooted in our confidence in the resilience and the fundamentals of the LPG trade”, John C. Hadjipateras, Chairman, President and Chief Executive Officer of the company, said.
“We are pleased to be utilizing the world’s best available technological systems and expertise to optimize the operations of our Moglia plant”, Andrea Sgorbini, CEO of Bioenerys’ Agri unit, which is focused on agricultural residues, said. “With this expansion and upgrading, Bioenerys will become an even more significant solutions provider to farmers and other generators of agricultural organic residues, and Bioenerys will also become a bigger generator of renewable energy”.
“Santos already produces Narrabri gas from appraisal wells for the Wilga Park power station that generates electricity for the northwest NSW grid. This experience, combined with our project development and production experience in Queensland’s Surat Basin, gives us confidence that Narrabri gas will be a very competitive source of domestic gas supply for the east coast market that is further advantaged by proximity to customers in NSW,” said Santos managing director and chief executive Kevin Gallagher.
Petrobras’ efforts to increase oil and gas production are bearing fruit. Petrobras produced 2.7 million barrels of oil equivalent in the second quarter of the year, which represented a 2.4% increase as the company ramped up production at five platforms and started 12 new wells, of which eight in the Campos Basin and four in the Santos Basin.
On July 1, in favor of Saipem SpA and Samsung E&A Co. Ltd., the Court of Appeal set aside the High Court of Justice’s sanction for Petrofac’s restructuring plan. Petrofac and the two companies had been part of a failed project – called Clean Fuels Project – to enable the production of cleaner fuels at a Thai refinery.