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(Reuters) Wood Plc said on Wednesday its Chief Executive Officer Robin Watson plans to retire and the British oilfield services and engineering firm also posted a drop in full-year revenue, sending its shares down as much as 6% in early trade. The London-listed company's revenue for the year ended Dec. 31 was down 14% on... Continue Reading →
(Bloomberg) — Halliburton Co. said North American oil and natural gas drillers will lift spending by 35% this year, an increase from the biggest fracer’s pre-Russian war forecast. The oilfield-services giant didn’t directly attribute the spending increase to fallout from Russian President Vladimir Putin’s assault on Ukraine but noted that explorers are pivoting to “short-cycle... Continue Reading →
(Reuters) - Baker Hughes Co (BKR.O) on Wednesday reported a higher quarterly profit from a year earlier, as a surge in commodity prices fueled drilling activity and demand for oilfield services. Oil benchmarks have undergone their most volatile period since mid-2020 with global crude prices up more than 38% in the first quarter amid Russia's invasion of... Continue Reading →
(Reuters) - Siemens Energy (ENR1n.DE) is reviewing its full-year outlook after wind turbine division Siemens Gamesa (SGREN.MC) unveiled deeper-than-expected operating problems and rising costs that together triggered a substantial quarterly loss. Siemens Energy also said the operating environment had become more challenging due to the war in Ukraine as well as sanctions imposed on Russia, adding it could not... Continue Reading →
(PN) Acelen, the investment arm of Mubadala Capital, announced that it will invest BRL 500 million in the Mataripe Refinery (formerly RLAM), in Bahia. The funds will be applied to the plant's scheduled maintenance shutdown cycle over the next 12 months. The company's expectation is that up to 4,000 jobs will be generated at the... Continue Reading →
(Offshore Energy) Oil and gas exploration company Eco (Atlantic) Oil & Gas has made its required capital expenditure contribution and is on track to start drilling a high-impact exploration well located in Block 2B, located offshore South Africa, by October this year as scheduled. The joint venture (JV) partnership for Block 2B is operated by a subsidiary... Continue Reading →
Navitas Petroleum has agreed to farm into the Sea Lion oil field development project offshore the Falkland Islands. Back January 2020, Premier Oil as the Sea Lion operator, and Rockhopper, as the partner in the project, signed non-binding heads of terms with Navitas Petroleum, with a goal of Navitas eventually obtaining a 30% interest in... Continue Reading →
(Reuters) Oilfield services firm Halliburton posted an 85% rise in first-quarter adjusted profit on Tuesday as a rally in crude prices boosted demand for its services and equipment. Crude futures climbed to their highest level in more than a decade during the quarter after a slew of Western sanctions against Russia disrupted oil sales from... Continue Reading →
(Reuters) - Global energy trader Gunvor Group reported a net profit of $726 million for 2021, the highest since 2015, buoyed by its natural gas and liquefied natural gas (LNG) divisions, the company said on Tuesday. The profit was the highest since 2015 when net profit was boosted by the sale of most of its... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 04/13/2022, informs that, contractually, TotalEnergies EP Brasil Ltda. - TotalEnergies may make the updated payment for its 22.5% share in the compensation for Atapu until 04/28/2022. The Atapu block was acquired by the consortium composed by Petrobras (52.5%), Shell Brasil Petróleo Ltda. -... Continue Reading →
Brazil Energy Insight 