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(Reuters) - Brazil's inflation slowed in April but still posted the steepest rise for the month in 26 years, pushing the 12-month figure to over 12% amid continued pressures on food and fuel, official figures showed on Wednesday. Consumer prices as measured by the benchmark IPCA index rose 1.06% in April, slightly above the 1.0%... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) said it will activate a contingency financing plan to avoid investment being affected while it waits for the government to pay 14.1 trillion pesos ($3.45 billion) it owes to the company. The debt the government owes to Ecopetrol (ECO.CN) corresponds to The Fund for Stabilization of Fuel Prices (FEPC), which... Continue Reading →
Japan's biggest oil and gas explorer Inpex Corp raised its net profit forecast for 2022 by 20% to a record 300 billion yen ($2.3 billion) thanks to higher-than-expected oil prices and a lower yen against the U.S. dollar. Its annual net profit prediction was raised from its February estimate of 250 billion yen as the... Continue Reading →
(Reuters) - U.S. oil and gas producer Occidental Petroleum Corp (OXY.N) beat Wall Street's earnings estimates and swung to a profit from a year-ago loss, buoyed by soaring oil prices. The Houston-based company is the latest oil producer to benefit from high commodity prices, despite lower production volumes. Fuel prices have jumped following sanctions on Russia over... Continue Reading →
Offshore drilling contractor Noble Corporation has revealed that its shareholders have endorsed its plan to merge with Maersk Drilling in an all-stock transaction almost unanimously, despite concerns, which were voiced by certain shareholders over this plan in the past. A short time after the two rig owners announced their business combination on 10 November 2021, Cyprus-based S.D.... Continue Reading →
Petro Rio S.A. (“Company” or “PRIO”) informs to its shareholders and the market in general that it entered into an agreement with Aquadrill LLC (“Aquadrill”) that gives PRIO the opportunity to acquire the Capricorn semi-submersible rig ("Rig"). The semi-submersible hybrid Rig, suitable for drilling water depths of 80 to 3,000 meters, will be primary used... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that will pay, on Monday, 05/16/2022, complementary dividends referred to the 2021 fiscal year, based on shareholding position as of 04/13/2022, in connection to the Material Fact released on that date. The amount of dividends to be paid will be adjusted by Selic interest rate from 12/31/2021 to 05/16/2022,... Continue Reading →
Italian energy services group Saipem is working to bring forward a planned 2 billion euro ($2.12 billion) capital increase and carry it out in the summer, CEO Francesco Caio told Il Sole 24 Ore in an interview published on Tuesday. The capital hike is aimed at funding a turnaround plan after the group stunned investors... Continue Reading →
(WO) — The offshore wind sector has made huge strides over the last year, putting the industry on track to achieve President Joe Biden’s goal of reaching 30 gigawatts of offshore wind generation by 2030. To ensure its success, the U.S. Department of Energy (DOE) is allocating funds and programs to the development of projects... Continue Reading →
PetroReconcavo, an independent onshore oil and gas producer, with 22 years of experience in the sector, announces its financial and operating results for 1Q22. The Company recorded net revenue of R$703 million in 1Q22, which represents an increase of 147% compared to 4Q21, and 186.2% compared to 1Q21 when revenue was R$ 246 million. The... Continue Reading →
Brazil Energy Insight 