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Petróleo Brasileiro S.A. – Petrobras informs that it received today, at sight, the amount of R$ 14.55 billion from TotalEnergies EP Brasil Ltda. (TotalEnergies), Petronas Petróleo Brasil Ltda. (Petronas) and QP Brasil Ltda. (QP), related to the 70% stake of these companies in the Sépia compensation, block acquired by the consortium composed by Petrobras (30%),... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/16/2021, informs that its Board of Directors, in a meeting held today, approved the sale of its entire stake (27.88%) in Deten Química S.A (Deten), located in the industrial complex of Camaçari, in the state of Bahia, to the company Cepsa Química S.A.,... Continue Reading →
Craig Fleming (WO) With the havoc created by the war in Ukraine and the hard push to convert to renewables, operators are once again focusing on the high ROI that offshore prospects offer. There is an onslaught of good news and positive indicators that suggest operators are poised to significantly increase offshore development in 2022. ... Continue Reading →
Petróleo Brasileiro SA – Petrobras, following up on the release disclosed on 11/05/2021, informs that its Board of Directors, in a meeting held today, approved the sale of all its interest in the Albacora Leste concession, located predominantly in deep waters in the Campos Basin, to the company Petro Rio Jaguar Petróleo LTDA. (PetroRio), a... Continue Reading →
(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. “We must have a major deepwater port to handle a Panamax” ship, President Irfaan Ali said today during an investment seminar... Continue Reading →
(Reuters) Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn. The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp (600028.SS), reported 25% surge in net income for the first quarter of 2022, a level last seen in the third quarter of 2020, thanks to elevated crude oil prices but weakening fuel demand as tight COVID controls weighed. Asia's top oil refiner, also known as Sinopec, reported 22.61 billion... Continue Reading →
(Reuters) - U.S. oil and gas producer Hess Corp (HES.N) reported a 65% rise in first-quarter profit on Wednesday, helped by a jump in energy prices due to Russia's invasion of Ukraine. Oil prices hit multi-year records during the quarter as the conflict in Ukraine led to sanctions against Russia, one of the biggest exporters of crude,... Continue Reading →
Fugro has reported a revenue increase of 23.3% in the first quarter of 2022, said to be supported by all regions and business lines and driven by high client demand in the energy market, both renewables and oil & gas, and the infrastructure market. The total revenue in Q1 2022 was €365.4 million, compared to... Continue Reading →
(Reuters) - The Brazilian real has returned to the list of worst currencies among its peers with two sessions of heavy losses, suffering a blow from the rallying dollar after benefiting from a crowded carry trade, with increased tensions in Brasilia giving traders a reason to get out. On Monday, the real fell 1.44%, after... Continue Reading →
Brazil Energy Insight 