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(OET) Italian oilfield services provider Saipem has decided to buy the Santorini ultra-deepwater drillship from South Korea’s Samsung Heavy Industries to strengthen its offshore drilling fleet amid the growing demand in the market. The Santorini drillship was initially ordered from Samsung Heavy by Ocean Rig and it was slated for delivery in the second quarter of 2017. Come... Continue Reading →
(MTR) This week, dozens of companies are expected to compete for the right to lease the first commercial wind power sites off the coast of California in a federal online auction that could kick-start the state’s next clean energy boom. Collectively, the winners will pay at least tens of millions of dollars for exclusive rights to submit... Continue Reading →
(OE) Hans Jacob Bassoe, Contributor The recovering deepwater drilling market has encouraged drilling contractors to expand their fleet, and companies are now starting to purchase stranded assets in shipyards. A joint venture that includes Transocean recently announced the purchase of the stranded 7th Generation drillship West Aquila, while Stena Drilling still has its option to acquire... Continue Reading →
(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 →
Brazil Energy Insight 