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PRIO S.A. (“PRIO” or “Company”) (B3: PRIO3), in compliance with CVM Resolution 44/2021, hereby informs its shareholders and the market in general that, at a meeting of the Company’s Board of Directors held on February 25, 2025, an increase in the Company’s share capital in the amount of R$ 2,800,000,000.00, was approved, rising from R$... Continue Reading →
February 28, 2025 – PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following best corporate governance practices, informs its shareholders and the market in general that, today, the Brazilian Institute of the Environment and Natural Renewable Resources (“Ibama”) has granted the drilling license for Wahoo Field. Thus, the Company will immediately begin mobilizing the Hunter Queen rig... Continue Reading →
Australian oil company Karoon announced that it has signed a Sale and Purchase Agreement (SPA) with Altera & Ocyan to acquire 100% of FPSO Cidade de Itajaí for $115 million, plus approximately $8 million in transaction costs. The unit operates in the Baúna field, which is fully operated by Karoon. The agreement is subject to... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors (CA), in a meeting held today, authorized the submission to the Annual General Meeting (AGM), scheduled for April 16, 2025, of the proposal for the distribution of dividends equivalent to R$ 9.1 billion. If approved by the AGM, considering the amounts advanced by the... Continue Reading →
Rio de Janeiro, February 26, 2025 “2024 was a positive year for Petrobras. We consistently maintained strong cash generation, reaching US$ 38 billion in Operating Cash Flow in 2024. This result demonstrates the company's financial health and the quality of its assets, which operate profitably, generating resources to make investments, remunerate shareholders and meet all... Continue Reading →
The FPSO Bacalhau arrived at its final destination this Saturday, February 22. The vessel was built to operate in the Bacalhau field, located in the pre-salt layer of the Santos Basin, approximately 185 km off the coast of the municipality of Ilhabela, in the state of São Paulo. MODEC, responsible for the design, construction and... Continue Reading →
(offshore-energy.biz) Switzerland-headquartered offshore pipeline installation, heavy lift, and subsea construction contractor Allseas has put the wheels into motion to get ready for its new assignment on Brazil’s second largest oil field. With its headquarters in Switzerland and central engineering and project management office in the Netherlands, Allseas has opened a new project management and engineering... Continue Reading →
(Valor Feb. 20, 2025) With a debt of R$3.3 billion, Seacrest Petróleo filed for bankruptcy protection in the Court of Justice of São Paulo. The company is seeking to suspend collection proceedings and early maturity of the debt for a period of 180 days. The decision to file came after the company received requests for... Continue Reading →
(Reuters) - Guyana's average oil production fell to some 620,000 barrels per day in January from 656,000 bpd in December, the lowest monthly figure since August, the Natural Resources Ministry said on Friday in a report. A consortium led by U.S. oil major Exxon Mobil and involving Hess and China's CNOOC controls all crude and gas output in... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras (PETR4.SA), opens new tab is considering cancelling a tender to charter a production storage and offloading vessel (FPSO) from India's Shapoorji Pallonji Energy, two sources with knowledge of the matter told Reuters. The state-run firm believes the bid by the Indian shipbuilding firm was too high, at $1.5 million per... Continue Reading →
Brazil Energy Insight 