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(Reuters) - A U.S. judge on Tuesday ordered Glencore Plc (GLEN.L) to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. The sentence handed down by U.S. District Judge Lorna Schofield in Manhattan federal court consisted of a $428.5 million fine and $272 million in forfeiture,... Continue Reading →
Latin America is the region with the lowest level of readiness for the energy transition on the planet. The finding is from a new study recently published by Siemens Energy. According to the survey, countries in the region have a considerable expansion of renewable energy, but technologies such as power-to-X (synthetic fuels and green derivatives)... Continue Reading →
Brazilian oil and gas player Enauta has completed the preventive maintenance activities for a floating, production, storage, and offloading (FPSO) vessel, which is carrying out operations on a field offshore Brazil. Enauta disclosed on Monday, 27 February 2023, that the preventive maintenance of the water-cooling system of the FPSO Petrojarl I was concluded and the production at... Continue Reading →
Petrobras set a record in CO2 capture, use and geological storage (the so-called Carbon Capture, Utilization and Storage - CCUS) in 2022, reaching the mark of 10.6 million reinjected tons (equivalent to 5.8 billion m³ of CO2 ). For comparison purposes, this portion corresponds to 27% by volume of the total gas reinjected in our... Continue Reading →
(epbr) Seacrest Petróleo, an independent oil company focused on mature fields in Brazil, raised US$ 260 million with the IPO, on the Oslo Stock Exchange, in Norway. With cash strengthened by the share offering, the company plans to triple its oil and gas production in the Espírito Santo Basin by 2025. In recent years, the... Continue Reading →
Dutch FPSO operator SBM Offshore is working on several floating, production, storage and offloading (FPSO) projects and two of these vessels are expected to achieve the first oil this year. While disclosing its record full-year 2022 directional underlying EBITDA of $1 billion, the revenue of $3.29 billion and the year-end backlog of $30.5 billion, SBM... Continue Reading →
Offshore installation services company Subsea 7 said Friday it had won a "sizable" vessel contract with the Brazilian oil company Petrobras. The contract is for the 145.9m pipelay support vessel (PLSV) Seven Cruzeiro off the coast of Brazil. It extends the vessel's current contract from February to November 2023. For Subsea 7, a "sizeable contract"... Continue Reading →
(Bloomberg) – As China scoops up more and more discounted Russian oil, producers in Africa and South America are losing out. Angola is among the hardest hit at the moment, with daily oil exports to China falling 27% so far this month, compared with the whole of February last year, according to data and analytics... Continue Reading →
Dutch oil and gas services firm SBM Offshore forecast on Thursday an annual revenue of above $2.9 billion for 2023, bringing its guidance for earnings before interest, taxes, depreciation, and amortization (EBITDA) to above $1 billion. The group, which supplies and operates floating production, storage and offloading (FPSO) vessels, reported an EBITDA of $1.01 billion... Continue Reading →
(Reuters) - Spain's biggest utility Iberdrola (IBE.MC) expects its net profit to increase by 8% to 10% this year from 2022, it said on Wednesday, discounting the country's windfall tax that would cut the growth rate to the mid-single-digit. Following Russia's invasion of Ukraine a year ago, energy markets in Europe hit record highs, adding to economic... Continue Reading →
Brazil Energy Insight 