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Figure 1: Courtesy Rystad Energy About the Author: Matt Hale is a Lead Analyst at Rystad Energy, based in Houston, Texas. He covers oilfield services including seismic, drilling, intervention, and abandonment markets. Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20%... Continue Reading →
Spanish renewable energy company Iberdrola has chosen Brazil as a place where it plans to install its first ever floating solar plant. The project will be built on the water surface of the Xaréu dam on the island of Fernando de Noronha, recognized by UNESCO as a World Natural Heritage Site. This initiative is carried... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Wednesday its board of directors had approved the early departure of chief executive officer Caio Paes de Andrade, which will take effect immediately. Reuters had first reported on Tuesday, citing sources, that Andrade had informed the board of directors of his resignation, ahead of the end of his... Continue Reading →
(OWB) This year is set to be one of the busiest for offshore wind developers and governments around the world as a multitude of new sites are scheduled to be awarded for offshore wind farm construction. From the much longer list of auctions coming up in 2023, each bearing national and/or global significance, offshoreWIND.biz is... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44 and Brazilian Law No. 6,404, informs its investors and the market in general that, at a meeting held on January 3, 2023, the Board of Directors decided to reorganize the Company's Statutory Board of... Continue Reading →
(Reuters) - Former Brazilian President Jair Bolsonaro's loss of broad protections from prosecution when he stepped down on Sunday leaves him more exposed to criminal and electoral probes that could lead to his arrest or prevent him from running for office. Bolsonaro, a far-right nationalist, left Brazil for Florida on Friday after losing to leftist... Continue Reading →
Offshore seismic data companies TGS and CGG on Wednesday announced the second phase of the Foz do Amazonas 3D multi-client survey, located in the offshore Brazil equatorial margin. This survey, covering 11,425 square kilometers, will broaden the region's 3D coverage and deliver additional high-quality data essential for the exploration efforts in the basin, the companies... Continue Reading →
Marine seismic survey services firm Shearwater GeoServices has won two contracts for 4D seismic surveys with Petrobras for the Jubarte and Tartaruga Verde fields in the Campos Basin offshore Brazil. Combined, the two surveys add eight months to the Shearwater's order book. Financial details were not disclosed. The first contract is for a second... Continue Reading →
(Reuters) The chief executive of Brazilian oil company Petrobras, Caio Paes de Andrade, has informed the board of directors of his resignation, two sources with knowledge of the matter told Reuters on Tuesday. The resignation comes shortly after the country's mines and energy ministry said it would formally appoint Senator Jean Paul Prates to head... Continue Reading →
(Bloomberg) — Brazilian assets tumbled on the first session of 2023 as traders digested plans by President Luiz Inacio Lula da Silva to use state-owned companies to drive economic growth. Petrobras slumped as much as 6.9% in Sao Paulo, the main drag on the benchmark Ibovespa index, which fell 3.1% as of 11:47 a.m. At... Continue Reading →
Brazil Energy Insight 