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(Splash) Brazilian offshore drilling player Petroserv Marine is set to be acquired by a consortium of financial investors. A special purpose vehicle PS Marine Holding will take over all Petroserv’s assets via a share purchase of its subsidiary, Universal Energy Resources for an undisclosed sum. Founded in 1972, Petroserv currently owns and operates a fleet... Continue Reading →
(Reuters) - Two Brazilian cabinet members said on Monday that a proposed extra dividend suddenly axed by state-run Petrobras (PETR4.SA), opens new tab would be kept in a reserve for future disbursement - keeping alive investor hopes that they would gain expected returns. On Thursday, Petrobras Chief Executive Jean Paul Prates proposed to the oil company's board... Continue Reading →
(Bloomberg) -- President Luiz Inacio Lula da Silva will demand that Petrobras’ chief executive officer explain his handling of a dividends crisis that wiped out $11 billion of the state-owned oil company’s market value last week, as well as its plans to accelerate investment projects he considers essential to boost Brazil’s economy. Lula is holding... Continue Reading →
(PN) Despite making progress in some of its bidding processes for platform ships (FPSOs), Petrobras is encountering difficulties in contracting various equipment and vessels. According to the director of engineering, technology and innovation at the state-owned company, Carlos Travassos, other actors in the oil and gas sector around the world are also experiencing this situation.... Continue Reading →
(Reuters) - Brazil's government will push state-run oil company Petrobras (PETR4.SA), opens new tab to reinvest cash set aside for dividends, two sources told Reuters, after its board spiked an extra dividend, blindsiding investors that sent shares plunging 10% on Friday. Petrobras CEO Jean Paul Prates spent over two hours on an earnings call trying to ease... Continue Reading →
(OE) Norwegian offshore vessel owner Siem Offshore has been awarded a contract extension for the multi-purpose support vessel (MPSV) Siem Dorado. According to Siem Offshore, the extension secures the utilization of Siem Dorado MPSV for a period reaching towards the end of the fourth quarter in 2024. The contract is expected to start in direct... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors (BoD), in a meeting held today, approved the submission to the Annual General Assembly (AGM), scheduled for April 25, 2024, of the proposed distribution of dividends equivalent to R$ 14.2 billion. If approved by the AGM, considering the dividends anticipated by the Company throughout... Continue Reading →
Dear shareholders and investors, I am very proud to address you today, not only in light of the excellent economic and financial results we are disclosing, but especially because I am convinced that we are building a Petrobras which is more solid, more resilient and able to generate long-term value to its partners and to... Continue Reading →
(OE) The fabrication of a floating production storage and offloading (PFSO) for the Raia project in Brazil, operated by Equinor on behalf of the Raia project consortium, has officially started at Seatrium’s BrasFELS Shipyard. The strike steel ceremony, which symbolizes the first steel cut of the FPSO Raia project, marks the start of the collaboration... Continue Reading →
This free translation may be of interest Article by Paloma Amorin and Thiago Silva partners at Vieira Rezende Advogados (epbr) The development of the offshore wind sector in Brazil requires the consolidation of a robust legal and regulatory framework. Although there has been a framework approved since 2022 (Decree 10,946/2022), several pending regulatory actions remain... Continue Reading →
Brazil Energy Insight 