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(Reuters) - Washington and Brazil have discussed the South American nation's role in keeping a lid on global crude prices since Russia's invasion of Ukraine, Brazilian Energy Minister Bento Albuquerque told Reuters in an interview on Wednesday. Brazil, with a current output of around 3 million barrels of oil per day (bpd), has been increasing... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/20/2021 and 12/30/2021, informs that it has today concluded the sale to the company Ubuntu Engenharia e Serviços Ltda (Ubuntu) of its total stake in blocks PAR-T-198 and PAR-T-218, located in the Paraná Basin. After compliance with all the precedent conditions and approval... Continue Reading →
(PN) News in the leadership of the British oil company BP. The executive Adriano Bastos took over this month as the company's Head of Country in Brazil. He returned to the country after serving as president of BP in Angola. Bastos replaced Mario Lindenhayn, who has been BP's Head of Country in Brazil. “Adriano will... Continue Reading →
https://www.youtube.com/embed/4YBPRrZMwhg (OE) FPSO specialist SBM Offshore has shared a video showing the lifting and installation of the first topside module batch for the Prosperity FPSO at the Keppel O&M yard in Singapore. The hull of the FPSO Prosperity, which will be Guyana's third offshore production unit after the Liza Destiny and Liza Unity, has... Continue Reading →
Equinor has published its first Energy transition plan, which will be submitted for an advisory vote by shareholders at the company’s 2022 Annual General Meeting 11 May. The plan provides an overview of how the company is progressing towards its 2050 net zero ambition through short-term actions and medium-term ambitions. Equinor also proposes to amend... Continue Reading →
(Reuters) - The world needs to find $1.3 trillion of incremental investment by 2030 to boost all types of energy output and infrastructure from renewables to oil and gas to avoid an energy crunch, U.S. bank JP Morgan said in its first annual energy outlook. "Our main finding is that by 2030, energy demand growth... Continue Reading →
(Reuters) Wood Plc said on Wednesday its Chief Executive Officer Robin Watson plans to retire and the British oilfield services and engineering firm also posted a drop in full-year revenue, sending its shares down as much as 6% in early trade. The London-listed company's revenue for the year ended Dec. 31 was down 14% on... Continue Reading →
(Bloomberg) — Halliburton Co. said North American oil and natural gas drillers will lift spending by 35% this year, an increase from the biggest fracer’s pre-Russian war forecast. The oilfield-services giant didn’t directly attribute the spending increase to fallout from Russian President Vladimir Putin’s assault on Ukraine but noted that explorers are pivoting to “short-cycle... Continue Reading →
Brazilian oil company Petrobras has brought online the first two wells of the increased oil recovery (IOR) project at Roncador project offshore Brazil, almost five months ahead of schedule and at half of the planned cost, Equinor, Petrobras' partner in the project, said Wednesday. "This represents an important milestone in the development of the field, increasing... Continue Reading →
(Reuters) - Baker Hughes Co (BKR.O) on Wednesday reported a higher quarterly profit from a year earlier, as a surge in commodity prices fueled drilling activity and demand for oilfield services. Oil benchmarks have undergone their most volatile period since mid-2020 with global crude prices up more than 38% in the first quarter amid Russia's invasion of... Continue Reading →
Brazil Energy Insight 