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(Reuters) - Brazil's real will stay under pressure while the new government mulls fiscal reforms to allow for higher welfare spending, but losses should subside as money dealers head out for their summer break in the Latin American nation, a Reuters poll showed. The currency , has depreciated 2.6% to 5.43 per U.S. dollar since President Luiz... Continue Reading →
Philip Lewis, Contributor Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 megawatts (MW). By 2030, close to 11 gigawatts (GW) of commercial scale wind farms are planned to be commissioned in Europe and the... Continue Reading →
(Reuters) - Earnings from Shell's (SHEL.L) liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday. Europe's largest oil and gas company's update ahead of its full-year results on Feb. 2 also said it... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Wednesday signaled another strong operational profit of about $15.4 billion in its fourth quarter, pushing it toward a record take for all of 2022. The largest U.S. oil producer indicated in a securities filing a cooling from its massive profits from the prior quarters. But preliminary operational results confirmed 2022... Continue Reading →
(Reuters) Brazilian oil company Petroreconcavo SA has agreed to buy Maha Energy's subsidiary in the Latin American country, the companies said on Wednesday, marking another step in the Brazilian firm's ongoing expansion. According to a securities filing, Petroreconcavo will pay $138 million for 100% of Maha Brasil, which operates oilfields in the country's northeastern region,... Continue Reading →
(CN) The United States has long hovered on the cusp of an offshore wind energy boom, even as the industry has soared worldwide. After many fits and starts, only seven turbines are spinning off the U.S. coast, representing 0.1 percent of the total global capacity of offshore wind farms. Now that’s all starting to change. With companies hitting major... Continue Reading →
(Reuters) - Brazil's sovereign floating rate bond redemptions will hit a record high next year, underscoring the fiscal challenge facing President-elect Luiz Inacio Lula da Silva as he raises the spending ceiling to fund a social welfare package. Redemptions on the LFT bonds, which are linked to benchmark interest rates, will reach 464 billion reais... Continue Reading →
(Reuters) Mexican state oil company Petroleos Mexicanos (Pemex) said it has been falling behind in a global race to transition from fossil to renewable energy sources, and that stricter demands from environmentally conscious investors pose a threat. Investors have for years considered Pemex a laggard as rivals worldwide moved to dramatically decrease emissions from energy... Continue Reading →
(PN) The company concluded its first issue of simple debentures, in a restricted public offering. The transaction totaled BR$1.4 billion, of which approximately BR$737 million were First Series debentures and approximately BR$663 million were Second Series debentures, both non-convertible into shares. The funds raised will be used by the company in the development of the... Continue Reading →
(Reuters) - Brazilian oil company Petroreconcavo SA expects to invest more than 1 billion reais ($193.91 million) in 2023 as it develops assets in Northeastern Brazil, and has not ruled out fresh acquisitions, its chief executive said. Petroreconcavo, which started operating in 2000, has grown significantly in recent years after buying onshore assets from state-run... Continue Reading →
