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PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), informs its shareholders and the market in general that it has signed contracts with Equinor Brasil Energia Ltda ("Equinor") for the acquisition of 60% interest and operation of the Peregrino and Pitangola Fields ("Field" or "Peregrino"). The deal, which will add 202 million barrels of oil in 1P+1C reserves... Continue Reading →
(PN) Petrobras has requested authorization from Ibama to begin moving the ODN II drillship towards the Foz do Amazonas Basin, on the Equatorial Margin. The vessel's presence in the region is essential for carrying out the so-called Pre-Operational Assessment (APO), which is an oil spill simulation required as part of the environmental licensing process for... Continue Reading →
(Reuters) - Shareholders of Brazilian power firm Eletrobras on Tuesday elected a new board and approved a proposal to end a legal dispute over the government's voting power in the company. The agreement allows the government to nominate three of Eletrobras' 10 board members. Shareholders elected Vicente Falconi, Ana Matte, Felipe Villela, Marisete Pereira, Carlos Ferreira and Jose... Continue Reading →
Petrobras reported oil, gas and gas liquids production of 2.77 million barrels of oil equivalent per day (boed) in the first quarter, down 0.2% from a year earlier. Petrobras' oil production in Brazil fell by 1% year-on-year, to 2.21 million barrels per day (bpd). Click here for the full 1Q25 Production & Sales Report .
(Reuters) Chinese offshore oil and gas major CNOOC first-quarter net profit fell 7.9%, weighed down by weaker oil prices, though higher output helped stem the decline. Net income for January-March was 36.56 billion yuan ($5.03 billion), versus 39.7 billion yuan in the same period last year, according to a company filing with the Hong Kong... Continue Reading →
(Reuters) - The government of President Luiz Inácio Lula da Silva expects to raise $2 billion in financing for sustainable projects through a new auction to be announced on Monday as part of the Eco Invest Brazil program, focusing on initiatives to recover degraded pastures. According to Brazil Treasury Secretary Rogério Ceron, the country has... Continue Reading →
(OE) Noble Corporation has reported that its contract drilling services revenue for the first quarter of 2025 totaled $832 million compared to $882 million in the fourth quarter of 2024, with the sequential decrease driven primarily by the benefit received in the fourth quarter of 2024 from the Noble Deliverer's early termination fee. Contract drilling... Continue Reading →
(Reuters) Portugal's Galp Energia reported a 29% drop in adjusted first-quarter core profit on Monday, hit by falling oil output and a decline in refining margins to less than half the levels booked a year ago. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to 669 million euros, slightly above the average of... Continue Reading →
(OE) MODEC has executed a contract with Sumitomo Heavy Industries for the delivery of Gato do Mato floating production, storage and offloading (FPSO) unit for Shell, which will be deployed offshore Brazil. MODEC and Sumitomo Heavy Industries signed a contract for the forward block of MODEC’s new generation hull for the Gato do Mato FPSO,... Continue Reading →
Oil States announced the signing of a new contract with Petrobras to provide inspection and maintenance services for cranes and cargo handling equipment on offshore platforms. The agreement will last three years and will cover units located in the Tupi, Berbigão and Atapu fields in the Santos Basin. According to the company, the services will... Continue Reading →
Brazil Energy Insight 