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After curbed spending over the past two years, the oil and gas (O&G) sector is primed to get back into the game with high investments, putting contractors into a buoyant mode as the five-year offshore engineering, procurement, and construction (EPC) spend is expected to total $276 billion, outlined Westwood Global Energy, an energy market research and... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the releases disclosed on 05/05/2022 and 06/20/2022, informs that it is carrying out today the payment of the 2nd installment of the remuneration to shareholders approved by its Board of Directors in a meeting held on 05/05/2022. The gross amount distributed today corresponds to dividends of R$... Continue Reading →
(OE) Spanish offshore engineering firm Saitec Offshore Technologies and renewables giant RWE on Wednesday marked the completion and the launching operation of their DemoSATH floating wind unit. SATH Technology is based on a concrete platform concept with a plug-and-play Single Point Mooring, the same technology used for FPSOs. The DemoSATH project uses a 2MW turbine... Continue Reading →
Japanese FPSO operator MODEC has seen its new floating production storage and offloading (FPSO) vessel set sail from China to Brazil to work in the pre-salt Santos Basin for the country’s energy giant Petrobras. Converted from a very large crude carrier (VLCC) and delivered by COSCO Shipping Dalian in China, the FPSO Almirante Barroso MV32 started its... Continue Reading →
(REUTERS) Oilfield services provider Baker Hughes on Wednesday reported a bigger second-quarter loss, hit by a $365 million charge from suspension of its Russian operations and supply chain inflation, dampening the benefits of higher oil prices. The company's shares fell about 4.5% to $26.95 in premarket trading. "Our second-quarter results were mixed as each product... Continue Reading →
(Reuters) - Brazil's Petrobras will reduce gasoline prices at its refineries by about 5% on Wednesday, the state-run oil company said in a statement, its first price cut since late 2021, making analysts review projections for the country's inflation. Federal lawmakers and President Jair Bolsonaro have been putting intense pressure on the company's leadership to... Continue Reading →
(Reuters) - France's government is offering to pay 9.7 billion euros ($9.85 billion) to take full control of EDF (EDF.PA), in a buyout deal that gives it a free hand to run Europe's biggest nuclear power operator as it grapples with a continent-wide energy crisis. The finance ministry said in a statement on Tuesday that the... Continue Reading →
(Reuters) - Oilfield services provider Halliburton Co (HAL.N) on Tuesday posted a nearly 41% rise in second-quarter adjusted profit compared to the first quarter, and predicted multiple years of growth in demand for drilling. Driven by high oil prices, the increase was in spite of a $344 million hit from the company winding down assets in Russia... Continue Reading →
CRP Subsea has secured several deepwater contracts to provide distributed buoyancy modules (DBMs) in Brazil for undisclosed companies. The distributed buoyancy modules will be used to reduce top tension by maintaining a lazy wave configuration of the pipeline, reducing the risk of pipeline failure and increasing the lifetime of the field, CRP Subsea said. The... Continue Reading →
Green energy infrastructure developer Cerulean Winds has revealed it will bid for four seabed lease sites with a combined capacity of 6 GW of floating wind to decarbonise the UK’s oil and gas sector under Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) leasing round. This scale will remove more emissions quickly, keep... Continue Reading →
Brazil Energy Insight 