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Petrobras achieved a new presalt production from its fields offshore Brazil of 2.06 MMboe/d during second-quarter 2023, representing 78% of the company’s total output. The previous high of 2.05 MMboe/d was registered in the first quarter. However, the company’s production in the Brazilian post-salt was 9.7% lower than for the previous quarter, at 346,000 bbl/d,... Continue Reading →
(Reuters) Spanish power company Iberdrola on Thursday raised its 2023 profit outlook for the second time after a strong performance in Europe and Britain drove a 21% increase in first-half net profit. The green energy giant is investing heavily in renewable capacity and network assets. It plans to invest 47 billion euros ($52 billion) between... Continue Reading →
(OET) TechnipFMC has received $4.1 billion in subsea inbound orders in the second quarter of 2023, a 62.2% increase compared to Q1 2023 and a 113.4% increase compared to the same period in 2022. Records were set for the company’s iEPCI full-field subsea development and integrated project execution and Subsea 2.0 subsea production system. TechnipFMC’s total... Continue Reading →
In 2Q23, average production of oil, NGL and natural gas reached 2.64 MMboed, 1.5% lower compared to 1Q23, mainly due to higher volume of losses from stoppages and maintenance, the natural decline of mature fields and divestments. Those effects were partially offset by the ramp-up of P-71, in Itapu field, and the startup of FPSOs... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, further to the releases to the market dated January 29, 2020 and May 27, 2021, informs that the District Court of Rotterdam ("Court") issued today an interim decision on the merits in the collective action filed by the St. Petrobras Compensation Foundation ("Foundation") against Petrobras and other defendants in the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, informs that an Arbitration Court of the B3 Market Arbitration Chamber issued a partial decision stating that the general civil liability regime applies to the shareholders' indemnity claim. This is a merely partial decision, which addresses a preliminary issue, but does... Continue Reading →
(Reuters) - Brazilian power company Eletrobras (ELET6.SA) expects to invest between 70 billion and 80 billion reais ($16.92 billion) over the next five years, the firm said on Monday, adding it was mulling over 15 potential mergers or acquisitions. Of the total amount, 17.1 billion reais has already been earmarked for electricity generation and transmission projects as... Continue Reading →
The Búzios field, the largest in the world in ultra-deep waters, reached, in June, the accumulated production of 1 billion barrels of oil equivalent (boe), after just five years since the asset started operations. This result is due to the high productivity per well in Búzios, the evolution of knowledge accumulated in the pre-salt fields... Continue Reading →
(OE) French steel pipemaker Vallourec said Monday it had won two major orders to supply line pipes for phases 6 and 8 of the Buzios oil field development operated by Petrobras. These orders are in addition to the contract previously won for phase 7, representing a total of 48,000 tons of line pipe. Located off... Continue Reading →
Brazilian offshore support vessel service company OceanPact has acquired two AHTS vessels, Skandi Saigon and Skandi Pacific, from Akastor's subsidiary DDW Offshore. OceanPact chartered the two vessels in March 2021 to support Petrobras' operations, with OceanPact having a purchase obligation at the end of the bareboat term. "Following the expiry of the charter period, both vessels are now... Continue Reading →
Brazil Energy Insight 