3R PETROLEUM ÓLEO E GÁS (“Company”) (B3: RRRP3), pursuant to the provisions of Articles 74 and 157, Paragraph 4 of Law 6.404/76 and the provisions of Brazilian Securities and Exchange Commission (“CVM”) Resolution No. 44, dated of August 23, 2021 and in complement of the material fact published by the Company on August 27, 2021,... Continue Reading →
Argentina’s YPF nears loan deal to ease $400 mln debt pile next year
(Reuters) - Argentine state energy firm YPF (YPFD.BA) is close to signing a loan deal with a multilateral lender which could cover part of its $400 million debt obligations next year, its chief financial officer said on Thursday, which will free up funds for investment. Alejandro Lew said the loan would inject funds to balance out repayments... Continue Reading →
Chevron plans $15 billion spending budget for 2022
U.S. oil major Chevron Corporation has revealed its 2022 organic capital and exploratory spending programme of $15 billion, at the low end of its $15 to $17 billion guidance range and up more than 20 per cent from 2021 expected levels. The company also expects to increase its share buyback programme. As explained by Chevron on Monday, this capital programme... Continue Reading →
Malaysia’s Petronas posts Q3 profit, sees modest demand growth
(Reuters) - Malaysia's state energy firm Petroliam Nasional Berhad, or Petronas, swung to a third-quarter profit on higher prices and demand, and forecast a modest recovery in demand. The company reported third-quarter profit of 16.3 billion ringgit, compared with a loss of 3.4 billion ringgit in the year-ago quarter. Revenue rose 50% to 61.8 billion... Continue Reading →
Soaring oil & gas demand to catapult well intervention over $14 billion by 2031, Fact.MR says
Offshore oil and gas exploration projects are expected to double the growth of well intervention market, as operators seek to increase production from existing fields amid skyrocketing oil and gas demand. Fact.MR expects the global well intervention market to reach $7.1 billion in 2021 with an increase of 7 per cent CAGR between 2021 and 2031, thus, surpassing $14... Continue Reading →
Petrobras Awards Long-term Charters for Seadrill Drillship Duo
Offshore drilling company Seadrill has won two contracts with Brazil's Petrobras for the West Carina and West Tellus drillship. The two rigs will work on the Búzios field offshore Brazil. Both contracts have been signed on a 3-year fixed-term basis, with an expected start in September 2022. The total contract value for the two contracts... Continue Reading →
Brazil’s Petrobras boosts payouts and spending under new plan – analysts
(Reuters) - Brazilian state-run oil company Petrobras loosened its dividend policy and raised capital spending projections in a new five-year strategic plan unveiled late on Wednesday that was cheered by analysts and investors. In a securities filing, Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said it was ending its previous dividend policy, which... Continue Reading →
Petrobras on enhancing the Shareholder Remuneration Policy
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, in a meeting held today, approved the revision of the Shareholder Remuneration Policy (Dividend Policy). The enhancement of the Dividend Policy has become important because of the anticipated achievement of the target of gross debt below US$ 60 billion in the 3rd quarter of... Continue Reading →
Brazil’s Petrobras raises investment plan to $68 bln, lowers 2022 production forecast
(Reuters) - Brazil's Petrobras (PETR4.SA) said on Wednesday it expects to invest $68 billion from 2022 to 2026, a sharp increase from its previous five-year plan, as the state-run oil company seeks to grow oil production from the subsea pre-salt area. The oil production forecast for next year fell slightly, however, with Petroleo Brasileiro SA, as the... Continue Reading →
Swiss Public Prosecutor Fines SBM Offshore for Bribery
SBM Offshore, one of the world's largest suppliers of FPSO vessels for the offshore oil and gas industry, has been ordered to pay 7.0 million CHF (around USD 7.6 million) for bribery in the 2005 – 2012 period. A year ago, SBM Offshore said that three of its subsidiaries in Switzerland had received a notification... Continue Reading →
