(Reuters) - BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump up cash to develop the fuel to decarbonise. Low-carbon hydrogen already has a big fan-base and is forecast to play a major role in reducing greenhouse gas emissions from heavy industries and... Continue Reading →
(Reuters) Norwegian energy firm Equinor's renewables business faces rising supply chain bottlenecks and strong rivalry for new projects, but will not compromise on its 4-8% investment return target, the head of the unit told Reuters. While still largely an oil and gas producer, state-controlled Equinor is investing heavily in offshore wind, securing permits in Britain,... Continue Reading →
(Reuters) Brazil' state-controlled oil producer Petrobras on Wednesday disclosed a 15% increase in its five-year spending plan to $78 billion, with little change to the company's strategy of focusing on fossil fuel production. The last Petrobras business approved under President Jair Bolsonaro could be scrapped next year, as a newly elected government that takes office... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved, in a meeting held today, the Strategic Plan for the five-year period 2023-2027 (SP 2023-27). Throughout 2022, Petrobras delivered an operational and financial performance in line with its commitment to generate value for society and shareholders and in full adherence with the 2022-2026... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it was disclosed by the Fundação Petrobras de Seguridade Social (Petros) that its Deliberative Council approved the Deficit Equalization Plan (PED) for the year 2021 of the Renegotiated Petros Pension Plan (PPSP-R), because this plan has exceeded the legal limit of tolerance to technical deficit. The PED-2021 foresees... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 08/25/2021, 03/10/2022, 05/13/2022 and 08/30/2022, informs that it has today finalized the sale of the shares of Refinaria de Manaus S.A. (Manaus Refinery), which was formed to hold Refinaria Isaac Sabbá (REMAN) and its corresponding logistics assets, located in Manaus, Amazonas, to the... Continue Reading →
(Reuters) Malaysia's state energy firm Petroliam Nasional Berhad, or Petronas, on Wednesday posted a near doubling of its third quarter profit and warned of continuing volatility in oil and gas prices. The company reported a profit of 30.8 billion ringgit in the July-September period, compared with a profit of 16.3 billion ringgit in the same... Continue Reading →
(Reuters) Eni is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted. Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. It has operations... Continue Reading →
(Reuters) - Brent oil prices will hold above the $100 level for the rest of 2022 as an impending EU ban on Russian oil sparks uncertainty over supply, but will tick lower next year as economic concerns prevail, a Reuters poll showed on Wednesday. A survey of 38 economists and analysts forecast benchmark Brent crude... Continue Reading →
(Reuters) - Construction is set to begin on one of Australia's biggest wind farms after its developers secured funding in a unique deal for the A$2 billion ($1.3 billion) first stage of the project after years of delays. The first stage of the Golden Plains project, being developed by privately owned TagEnergy, involves a 756-megawatt... Continue Reading →
