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(Reuters) - EDF (EDF.PA) shares surged on Tuesday, after two sources told Reuters that the French government was poised to pay more than 8 billion euros ($8 billion) to bring the power giant back under full state control. One of the sources said the cost of buying the 16% stake the French state does not already own... Continue Reading →
(Reuters) - Shares in Italy's Saipem (SPMI.MI) fell as much as 40% on Tuesday after investors subscribed for only 70% of its 2 billion euro cash call, signalling limited confidence in the turnaround plan for the Italian energy services group. Saipem said on Monday it had raised around 1.395 billion euros ($1.4 billion) at the closing of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it is reassessing the date for the start of operation of the Route 3 Integrated Project, scheduled for the second half of 2022, due to the demobilization of the workforce of the company SPE Kerui-Método, responsible for the works of the Natural Gas Processing Unit (UPGN) of the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 04/01/2022, informs that it has completed a Drill Stem Test (DST) on the 1-BRSA-1383A-RJS wildcat well (Alto de Cabo Frio Central Noroeste) in the pre-salt of the southern portion of the Campos Basin. The new discovery, announced on April 1st, is located 230... Continue Reading →
(Reuters) Mexico's state-owned oil company Pemex plunged deeper into so-called junk status on Monday after a major credit rating agency downgraded its long-term debt by one notch. Moody's Investors Service cut Pemex's credit rating to B1 from Ba3, or four notches into the agency's speculative status, reflecting a higher risk of default for the company formally known... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/28/2021 and 06/22/2022, informs that it has today finalized the sale of 51% of Petrobras Gás S.A. (Gaspetro) to Compass Gás e Energia S.A. (Compass). The transaction was concluded for R$ 2.097 billion, fully paid on this date. This disclosure to the market... Continue Reading →
Petro Rio S.A. (“PRIO”), informs its shareholders and the market in general of the start of production of the 7-FR-54H-RJS (“ODP4”) well, in the Frade Field, with stabilized initial production of approximately 15,000 barrels of oil per day, significantly above original projections, doubling the Field’s production and increasing the Company’s production by 45%, to 48,500... Continue Reading →
(PN) The platform ship (FPSO) Anna Nery left the Cosco Qidong shipyard in China and began its journey to Brazil. In the next two weeks, the vessel will carry out navigation tests in Chinese waters. It will then make stops in Singapore and Mauritius, to refuel and change crews. The arrival in Brazil is scheduled... Continue Reading →
(Reuters) - Italy's Saipem (SPMI.MI) has raised around 1.395 billion euros ($1.4 billion) to stabilise its finances, the energy services group said on Monday, adding that around 70% of the new shares it was issuing in a cash call were subscribed. Last month Saipem launched a 2 billion euro hyper-dilutive capital increase, which was open until Monday,... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro said on Monday that a deal was close with Moscow to buy much cheaper diesel from Russia, in what would appear to be the latest tangible benefit stemming from his friendly relationship with President Vladimir Putin. Bolsonaro, a far-right former army captain, gave no further details. Neither Bolsonaro's office,... Continue Reading →
Brazil Energy Insight 