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Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 11, 2020, informs that it signed with Petrom Produção de Petróleo & Gás Ltda. (Petrom) a contract for the sale of its entire 50% stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe.... Continue Reading →
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday. Its updated models show renewables meeting 74% of total energy demand by 2050, compared to 43%, 45% and 69% in the most aggressive... Continue Reading →
(Reuters) Siemens Energy (ENR1n.DE), which supplies turbines to the power sector, on Wednesday lowered the upper end of its target range for 2021 sales, hurt by weaker-than-expected demand, project delays and the ongoing coronavirus crisis. Revenues are now expected to grow 3-8% in the year to September, compared with a previous range of 2-12%. According to... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on August 14,2020, informs that today it signed a contract with São Francisco Energia S.A., a subsidiary of Global Participações em Energia S.A., for the sale of three fuel oil-powered thermoelectric plants, located in Camaçari, in the state of Bahia (Camaçari Cluster UTEs). The... Continue Reading →
Dutch oil & gas exploration and production operating company ONE-Dyas plans to power a platform at a North Sea gas extraction field solely by the electricity from the Riffgat offshore wind farm in the German part of the North Sea. ONE-Dyas, together with partners Hansa Hydrocarbons and EBN, aims to extract natural gas from the... Continue Reading →
Mexico's Senate on Thursday approved an initiative to remove certain limits on the market power of Petroleos Mexicanos (Pemex), in the latest boost for the state oil company under President Andres Manuel Lopez Obrador. A few days after a congressman from Lopez Obrador's National Regeneration Movement (MORENA) proposed it, the Senate signed off a measure... Continue Reading →
(Reuters) Chevron Corp's (CVX.N) first-quarter profit fell 29% compared with the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year. Oil companies are generally enjoying a recovery in energy prices, up at least a... Continue Reading →
(Reuters) French energy group Total SE (TOTF.PA) posted first-quarter earnings on Thursday close to levels from before the coronavirus pandemic, as higher oil and gas prices boosted its trading business and it increased electricity production. The company, which is branching into renewable energy and diversifying away from hydrocarbon-centred activities, benefited from this drive as areas like oil... Continue Reading →
Oil major BP has tripled its quarterly profit due to exceptional gas marketing, significantly higher oil prices, and higher refining margins. BP on Tuesday posted an underlying replacement cost profit for the first quarter of $2,63 billion, a significant rise when compared with $0.8 billion for the same period in 2020. According to the company, this... Continue Reading →
(Reuters) Royal Dutch Shell’s climate change strategy does not go far enough and investors should advise against it at an upcoming meeting, a UK pension funds group said on Wednesday. Shell has asked investors to vote on its energy transition strategy, although the vote is advisory only. read more Its plans call for reaching net zero... Continue Reading →
