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(Reuters) - Mexican billionaire investor Carlos Slim's team and state energy company Pemex are discussing substantial changes to a deal to develop the country's first deepwater natural gas field, five sources familiar with the matter told Reuters. Slim's Mexican holding company Grupo Carso signed a deal last year to partner with Pemex to develop the Lakach field... Continue Reading →
(Reuters) - Brazil's central bank raised its benchmark interest rate by 100 basis points for the second straight meeting on Wednesday and signaled another hike of that size in March, leaving the door open for subsequent moves amid mounting inflationary pressures. The bank's rate-setting committee, known as Copom, lifted the Selic policy rate to 13.25%... Continue Reading →
(offshoreWIND.biz) Shell has decided to pause its involvement in the Atlantic Shores offshore wind project in the US, which received federal approval in October 2024, the company’s CFO said during a press call after Shell posted its Q4 2024 financial results on 30 January. In its report for the fourth quarter, Shell included impairment charges... Continue Reading →
(Reuters) - Denmark will halt all ongoing offshore wind tenders as the existing framework where no subsidies are offered does not work under current market conditions, its energy minister said on Friday. The global offshore wind industry has been hit by surging costs, rising interest rates and supply chain bottlenecks. Denmark said in December that its latest... Continue Reading →
(Reuters) -U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Thursday, as robust demand for natural gas equipment and services helped offset weak sales of its drilling gear in North America. Oilfield service companies are grappling with lower demand as extraction technologies get more efficient and higher supplies deter more... Continue Reading →
SBM Offshore confirms it has completed the transactions related to the Share Purchase Agreements announced on September 6, 2024 with its partner MISC Berhad for: i) the acquisition of MISC Berhad’s entire effective equity interest in the lease and operating entities related to the FPSO Espirito Santo in Brazil; and ii) the full divestment to MISC Berhad... Continue Reading →
(OE) Ørsted has appointed Rasmus Errboe, current Deputy CEO and Chief Commercial Officer, as new Group President and CEO of the company replacing Mads Nipper who will step down from his position. Mads Nipper joined Ørsted in January 2021. He will step down as CEO on February 1, 2025, at which time Rasmus Errboe will... Continue Reading →
(Reuters) - Chevron Corp reported fourth-quarter earnings below Wall Street estimates on Friday as weak margins pushed its refining business into a loss for the first time since 2020, sending its shares down more than 2%. Chevron CEO Mike Wirth told Reuters the downtrend in refining margins is set to continue this year. The second-largest U.S.... Continue Reading →
(Reuters) Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data. The No. 1 U.S. oil producer reported total earnings of... Continue Reading →
Chinese EPCI company COOEC has completed the construction of 13 topside modules for FPSO P-79, which will be installed in the Buzios field, in the pre-salt layer of the Santos Basin. The Asian company was responsible for the design, acquisition, construction and onboard installation of the equipment. The modules, which weigh almost 30,000 tons and... Continue Reading →
Brazil Energy Insight 