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Porto do Açu, operated by Prumo Logística, celebrates a decade of operations in 2024. Located on the north coast of Rio de Janeiro, close to Petrobras' rich pre-salt oil reserves, Porto do Açu stands out as the largest port-industry complex private sector in Brazil. Recently the complex has been venturing into new territories, with substantial... Continue Reading →
(OW) Iberdrola and the World Bank, through its private sector investment arm, the International Finance Corporation (IFC), have signed a EUR 300 million loan agreement to develop renewable energy projects in countries dependent on fossil fuels, including Morocco, Poland and Vietnam. IFC has already allocated a first tranche of EUR 170 million for the support... Continue Reading →
Facility includes an option to convert to a sustainability-linked loan Seatrium Limited (Seatrium, or the Group) is pleased to announce that its wholly-owned subsidiary Seatrium Financial Services Pte. Ltd. (SFS) has successfully refinanced an existing loan facility due in February 2024 with a S$400 million committed loan facility from DBS Bank Limited (“DBS”). The three-year... Continue Reading →
(OET) With decarbonisation being seen as one of the biggest challenges facing the energy industry today, Offshore Energies UK (OEUK) has outlined that the recently offered carbon storage licences signify the country could bury 30 million tonnes of CO2 a year by 2030 and become a renowned mover and shaker in decarbonisation technology. After the... Continue Reading →
Dear shareholders and investors, I am very proud to share with you the first quarterly results of Petrobras under our management. Since I became CEO, in January, I have been working so that Petrobras can become more efficient, financially healthy and inclusive, where people are the focus of decisions and the top priority. If today... Continue Reading →
(OE) Norwegian oil and gas company Vår Energi will collaborate with floating wind technology firm Odfjell Oceanwind and Source Galileo to pursue a pilot project for floating offshore wind at its Goliat oil field in the Barents Sea, offshore Norway. The Goliat platform is currently electrified and is supplied with power from shore through a... Continue Reading →
Offshore drilling contractor Valaris has set a carbon emissions reduction target to reduce its Scope 1 emissions by 2030, aligning its sustainability goals with the Task Force on Climate-Related Financial Disclosures (TCFD) framework. Valaris issued its 2022 Sustainability Report on Monday, 17 April 2023, showcasing its commitment to environmental, social and governance (ESG) priorities. As part of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it was recognized as one of the leading companies in supplier engagement by the international organization CDP, formerly known as the Carbon Disclosure Project, a reference in sustainability. The A- rating, referring to the 2022 cycle, was achieved in the Supplier Engagement Rating (SER) aspect, a global index... Continue Reading →
(Reuters) - Dutch lender ING (INGA.AS) on Tuesday said it had again toughened its lending policy to the oil and gas sector, restricting finance to clients engaged in commodity or trade finance and "midstream" infrastructure. ING, a leading provider of commodity finance, said it was working on a methodology to reduce the volumes of traded oil and... Continue Reading →
(Reuters) - Banks gave 81 cents in financing support to low carbon energy supply for every dollar they provided to fossil fuels in 2021, a report showed on Tuesday, but they will need to ramp up their commitments much further for the world to hit its climate goals. Several climate scenarios suggest that to limit... Continue Reading →
Brazil Energy Insight 