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(Reuters) Portugal's Galp Energia on Monday reported its second quarter adjusted net profit jumped 16% and beat expectations as higher oil price and lower cost of production offset lower production and stable refining margin. It booked an adjusted net profit of 299 million euros ($325.34 million), more than the 236 million euros expected by 18... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, following up on the release disclosed on June 17, 2024, informs that obtained the approval of partners in E&P consortiums for reimbursement to Petrobras related to adherence to the PGFN-RFB 6/2024 Transaction Public Notice (tax disputes of significant and widespread legal controversy). As previously reported, several Petrobras partners in E&P... Continue Reading →
(PN) The Brazilian Environmental Institute (Ibama) issued approval for the use of support ships CBO Endeavour, Normand Maximus and Siem Emerald during the installation of the platform ship (FPSO) Almirante Tamandare. The expectation is that the first oil from the FPSO will be extracted in 2025. The vessel is still under construction by SBM Offshore... Continue Reading →
(Reuters) Chinese wind turbine-makers this month clinched their first order in Germany, as they build momentum in the European market and add to concern in the EU industry that it faces an existential threat. Tensions are high between Beijing and Brussels, the world's two biggest wind markets, as the European Commission, the EU executive, has... Continue Reading →
(Reuters) - Top U.S. oilfield service firms SLB and Halliburton posted higher quarterly profits on Friday helped by strong global demand, but they warned of softer activity in North America for the second half of this year. Oilfield service providers have in recent quarters bet on growth overseas, particularly in the Middle East and Asia, as well... Continue Reading →
(Reuters) - Colombia's majority state-owned energy company Ecopetrol said on Friday that it is in talks with U.S. oil major Occidental Petroleum to possibly buy a stake in CrownRock. Ecopetrol, in a statement, did not include additional details and added that a final decision on the size of the stake and the amount it could pay were... Continue Reading →
(OE) Norwegian offshore supply vessel company DOF Group has secured multiple contracts with Petrobras for work offshore Brazil. AHTS Skandi Jupiter and AHTS Skandi Mercury, both under management contracts with DOF, have been contracted by Petrobras to operate as AHTS 230t BP after the same competitive tender process earlier this year that led to the... Continue Reading →
(Reuters) - Bolivian state oil firm YPFB will spend around $400 million to drill gas wells and build facilities at a recently discovered natural gas "mega" field, the company said on Thursday. Production at the Mayaya field, estimated to hold 1.7 trillion cubic feet (TCF) of natural gas, should kick off in three to four years, YPFB... Continue Reading →
(OilNow.gy) ExxonMobil’s Hammerhead development will be a “stand alone” project, according to the summary submitted to Guyana’s Environmental Protection Agency (EPA). Potentially, additional resources can be tapped, if determined to be feasible and economically viable, the document read. The proposed project will be located in the south central portion of the Stabroek Block, 160 kilometers (km) from... Continue Reading →
(Reuters) Exxon Mobil's legal bid to stop Chevron's proposed $53 billion acquisition of Hess rests on whether the transaction would involve a change of control of Hess' prize subsidiary in Guyana, according to people knowledgeable about the argument. The two top U.S. oil producers are in an arbitration battle over the world's largest oil discovery... Continue Reading →
Brazil Energy Insight 