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Baker Hughes Co on Thursday reported an adjusted quarterly profit compared with a year-ago loss, as producers took advantage of a rise in crude prices that fueled demand for oilfield service equipment. Oil prices surged more than 50% last year on hopes of a global economic recovery from the COVID-19 pandemic and as OPEC+ cut... Continue Reading →
TechnipFMC is proceeding with the voluntary delisting of its shares from Euronext Paris, following the partial spin-off of Technip Energies and the progressive selldown of its remaining ownership stake. After a comprehensive review of its strategic objectives, TechnipFMC said it has refocused as a pure-play technology and services provider to the traditional and new energies... Continue Reading →
(epbr) The Administrative Council for Economic Defense (Cade) approved, without restrictions the acquisition of the Carmópolis Cluster, sold by Petrobras to Carmo Energy. The regulatory agency understood that there is no harm to the competitive environment in the oil and gas sector. Carmo Energy, an affiliate of the Spanish group Cobra, will take over the... Continue Reading →
Global oil and gas investments will expand by $26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant. An analysis by Rystad Energy projects overall oil and gas investments will rise 4 per cent to $628 billion this year from... Continue Reading →
(Reuters) - Equinor (EQNR.OL) will book a loss from gas derivatives of between $1.4 billion and $1.5 billion for the final quarter of 2021, in line with previous statements that some third-quarter profits would be reversed, the energy company said on Tuesday. Norway's largest company on Oct. 27 reported a surge in July-September earnings, driven by a global... Continue Reading →
(Reuters) - A debt refinancing operation for Mexican national oil company Pemex that swapped the highly-indebted firm's short-term bonds for a new 10-year bond has been completed, the finance ministry announced on Sunday. In a statement, the ministry said the near-term debt management scheme lowers Pemex's overall debt load by $3.2 billion, while reducing "financial... Continue Reading →
(Reuters) Europe's Big Oil companies are planning to spend their windfall from high energy prices on becoming Small Oil.Surging oil and gas prices in 2021 delivered billions of dollars in profits to top oil companies, in stark contrast to the previous year when energy prices collapsed as the coronavirus pandemic hit travel and economic activity.Typically,... Continue Reading →
3R PETROLEUM ÓLEO E GÁS (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of Resolution No. 44 of the Brazilian Securities Commission, informs its investors and the market in general that on December 30th, 2021 has concluded, through its integrally owned subsidiary 3R Macau SA (“3R Macau”), the prepayment of the 2nd Issuance... Continue Reading →
(Reuters) - Brazilian oil company Enauta Participacoes SA (ENAT3.SA) said on Monday it will no longer sell its stake in the Manati oilfield, adding that conditions for the conclusion of a previously announced deal with Gas Bridge SA have not been met. "The deal was subject to a series of commercial and regulatory conditions that should have... Continue Reading →
Tech startup Hydro Wind Energy is in the process of developing scaled prototypes of high-altitude kites powered by offshore wind with the goal to ”disrupt global energy and desalination markets”. The technologies for power generation and energy storage, OceanHydro Wind, and water desalination, SubSea RO Wind, are powered by high-altitude, ocean-based kites and vertical axis wind rotors rather... Continue Reading →
Brazil Energy Insight 