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Offshore drilling contractor Seadrill has revealed that one of its drillships embarked on its assignment at a field offshore Brazil with the country’s oil and gas giant, Petrobras. Back in December 2021, Petrobras awarded the contract for the West Jupiter drillship to Seadrill for work on the Búzios field offshore Brazil. As it came less than a month after Seadrill was... Continue Reading →
(OE) Heavy Lift Projects Ltd (HLP), a provider of offshore wind farm logistics, said Tuesday it had completed a funding round with private investors and opened its first office in Edinburgh. The company said that Capercaillie (Investments) Ltd and Giles W Pritchard-Gordon & Co Ltd have committed a "multi-million-pound" investment, which will be used to... Continue Reading →
(Reuters) - Swedish utility Vattenfall on Wednesday reported an increase in underlying operating profit in the fourth quarter of 2022 as increased wind power capacity and inflow of new customers boosted earnings. Underlying operating profit rose to 13.5 billion Swedish crowns ($1.28 billion) from 9.1 billion a year earlier, the state-owned company said. "Wind power... Continue Reading →
(Reuters) French oil major TotalEnergies posted a record net profit of $36.2 billion in 2022, double the previous year, joining in the sector's bumper earnings thanks to higher oil and gas prices since Russia invaded Ukraine. TotalEnergies' fourth-quarter adjusted net income was $7.6 billion, including a $4.1 billion impairment related to the deconsolidation of its stake in Russian gas... Continue Reading →
(Reuters) - Equinor (EQNR.OL) on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double its previous high, as gas prices soared and fourth-quarter results beat expectations, boosting its share price by 7%. The Norwegian oil and gas producer's adjusted earnings before tax and interest for October-December rose to $15.1 billion from $15... Continue Reading →
(Reuters) - BP (BP.L) on Tuesday reported a record profit of $28 billion for 2022 while boosting its dividend in a sign of confidence as it sharply raised overall spending plans but scaled back ambitions to reduce oil and gas output by 2030. The blockbuster profit follows similar reports from rivals Shell (SHEL.L), Exxon Mobil (XOM.N) and Chevron (CVX.N) last week after... Continue Reading →
(Reuters) - Siemens Energy (ENR1n.DE) said on Tuesday its net loss more than doubled in the first quarter, blaming charges related to quality issues at Siemens Gamesa (SGREN.MC) which the German firm is trying to fix via a full takeover of the wind division. Siemens Energy, which pre-released first-quarter results last month, said its net loss widened to 598 million... Continue Reading →
Petrobras is closer to starting exploratory activities on the Equatorial Margin. The company declared that it should start drilling wells this quarter, as detailed in its 2023-2027 Strategic Plan. The company plans to invest US$ 2.9 billion over the next 5 years in the region, with the drilling of 16 wells. The so-called Equatorial Margin... Continue Reading →
(Reuters) - Denmark's Orsted (ORSTED.CO), the world's No. 1 offshore wind farm developer, on Wednesday reported fourth-quarter operating profit in line with preliminary 2022 numbers but said its offshore business faced challenges. "In a year with unusual market conditions, not least the very volatile energy prices and a substantial increase in inflation, we're happy to achieve a record-high... Continue Reading →
(Reuters) - Beleaguered wind turbine maker Siemens Gamesa (SGREN.MC), soon to be delisted and folded into parent Siemens Energy (ENR1n.DE), said on Thursday its first-quarter net loss more than doubled on higher warranty provisions as a result of faulty components. The net loss in the October-December period, Siemens Gamesa's fiscal first quarter, widened to 884 million euros... Continue Reading →
Brazil Energy Insight 