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(Reuters) Oil and gas services company SBM Offshore on Thursday reported a better than expected decline in core profit for the first half of 2021 as it looks to develop floating offshore wind projects. After reducing spending sharply in the face of a pandemic-induced demand collapse, major energy companies have profitted from surging oil and... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider... Continue Reading →
(Reuters) - BP (BP.L) boosted its dividend and share buybacks on Tuesday, sending its shares up by over 5%, after beating expectations with a $2.8 billion second-quarter profit powered by higher oil prices and recovering demand. The strong results, underpinned by higher sales at petrol stations, went some way towards easing investors' concerns over BP's plan to... Continue Reading →
(Oilprice) The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand, where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and... Continue Reading →
Subsea engineering, construction and services company Subsea 7 has entered into an agreement to acquire a majority interest in the equity of Nautilus Floating Solutions S.L. a developer of technology for the floating wind market based in Bilbao, Spain. According to Subsea 7, Nautilus has developed a promising concept for a floating wind foundation based... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/11/2020, informs that today it signed contracts for the sale of its 20% stakes in Termelétrica Potiguar S.A. (TEP) and 40% in Companhia Energética Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. and GFM Participações S.A.,... Continue Reading →
(Reuters) - Europe's top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies. After swiftly cutting spending and jobs in response to the unprecedented collapse in energy demand last year, executives from... Continue Reading →
(PetroleoHoje) Hygo (formerly Golar Power) and Aruanã Energia plan to build two LNG facilities at the Port of Suape, in Pernambuco. Under analysis by the ANP, the projects foresee the use of the same area in the port, which motivated the agency's letter asking for clarification from the Suape administration. This is the Multiple Use... Continue Reading →
(Reuters) - Brazil's national power grid operator (ONS) said on Friday that severe drought is likely to push the country's power generation capacity to its absolute limit by November, as hydroelectric plants struggle with the water shortages. Latin America's biggest economy is facing its worst drought in almost a century, which is disrupting hydroelectric dams... Continue Reading →
In 2Q21, we continued to operate safely and had a solid operating performance, despite the persistence of the pandemic scenario. The average production of oil, NGL and natural gas reached 2.80 MMboed, 1.1% above 1Q21, due to the continued ramp-up of platforms P-68 (Berbigão and Sururu fields) and P-70 (Atapu field). Production in the pre-salt... Continue Reading →
