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Petróleo Brasileiro S.A. - Petrobras informs that today it has signed the Private Instrument of Confession of Debt that formalizes its commitment to pay the extraordinary employer contributions of the Deficit Equalization Plan - 2015 (PED 2015), implemented in 2017, with the Renegotiated and Non-Renegotiated Petros Pension Plans (PPSP-R and PPSP-NR). Payments of the extraordinary... Continue Reading →
(OE) Norwegian offshore vessel owner Siem Offshore has lost a case against Petrobras in Brazil over a late vessel delivery and will have to pay around $8 million. Siem Offshore said Wednesday that its Brazilian subsidiary, Siem Offshore do Brasil, had been informed of the final unfavorable decision of a Brazilian court in a lawsuit... Continue Reading →
(Reuters) - BlackRock (BLK.N), the world's biggest asset manager, told a British parliamentary committee that it will not stop investing in coal, oil and gas, and that its role was not to "engineer a specific decarbonization outcome in the real economy." The response was part of tens of statements from companies to the Environmental Audit Committee,... Continue Reading →
(Reuters) Oilfield service firms are poised to deliver the strongest third-quarter results in years as demand for equipment and services has risen despite supply chain snags and higher costs from inflation, according to analyst forecasts. Schlumberger, Halliburton, and others have struggled to regain pricing power after a 2016 price drop. The oil market crash during the pandemic... Continue Reading →
(OED) Latin America's offshore wind capacity could reach 34 GW by 2050, driven by off-grid green hydrogen projects, according to energy intelligence group Wood Mackenzie, a Verisk subsidiary. Currently, there are no commercial offshore wind farms in operation in the region. According to Wood Mackenzie, offshore wind activity will correspond to a 15.4% compound annual... Continue Reading →
(Reuters) - Larry Fink, chief executive of the world's biggest asset manager BlackRock Inc (BLK.N), on Wednesday defended his firm's energy investments after facing a backlash from lawmakers critical of its stance on environmental, social and governance (ESG) issues. "Facts are not important with some sub-groups in this country," Fink told attendees at the Institute of... Continue Reading →
Oceaneering’s Subsea Robotics segment has won multiple contracts in the third quarter of 2022 with anticipated aggregate revenue of $300 million. The contracts are primarily for remotely operated vehicle (ROV) services delivered from floating drilling rigs and vessels for subsea equipment support, subsea intervention and construction. Included work scopes are also ROV tooling, survey, positioning... Continue Reading →
(Reuters) -BlackRock Inc posted a smaller-than-expected drop in quarterly profit on Thursday as strong demand for exchange-traded funds and other low-risk products cushioned the hit to fee income from a global market rout, but its assets under management fell below expectations. The threat of a recession, surging interest rates and the Ukraine crisis have slammed... Continue Reading →
The heightened focus on energy security and the rising cost of energy is reinforcing the difference in decarbonization speed between Europe and the rest of the world, according to the sixth edition of DNV’s Energy Transition Outlook. Europe, which can be regarded as the leader of the energy transition, will double down on renewables and energy... Continue Reading →
(Reuters) - Private equity fund Carlyle Group (CG.O) is preparing to launch the sale of its Gabon-focused oil and gas producer Assala Energy, hoping to raise over $1 billion amid high global energy prices, industry sources said. Carlyle International Energy Partners, the fund's energy arm, first invested in Assala in 2017 when it acquired Shell's (SHEL.L) operations in Gabon... Continue Reading →
Brazil Energy Insight 