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Petróleo Brasileiro S.A. – Petrobras informs that it has signed with the Companhia de Eletricidade do Amapá (CEA), a legal agreement for the termination of litigation and credit recovery by Petrobras, recognized in the amount of R$ 314 million. The agreement establishes the payment to Petrobras of R$ 132.6 million unconditionally, to be settled in... Continue Reading →
Brazil's worst drought in two decades will force the country to depend more heavily on costly thermal power plants to compensate for reduced hydroelectric generation, the National Electric Grid Operator (ONS) director-general said. According to Luiz Carlos Ciocchi, this could keep power prices high but he saw no risk of power shortages or rationing. "If... Continue Reading →
(Reuters) Renewable energy grew at its fastest pace in two decades last year, led by China, and will continue to grow in the next two years, a report by the International Energy Agency (IEA) showed on Tuesday. New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) last year, the largest year-on-year... Continue Reading →
Occidental Petroleum (OXY) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $0.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 54.55%. A quarter ago, it was... Continue Reading →
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 →
