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Talos Energy Inc has withdrawn from a consortium with EIG Global Energy Partners, Enauta Participacoes SA and 3R Petroleum Oleo e Gas SA, and the group has submitted a binding offer to Petrobras for the Albacora and Albacora Leste oilfields in Brazil, five sources with knowledge of the matter said on Monday. Another consortium composed... Continue Reading →
SBM Offshore is pleased to announce a EUR150 million (c. US$180 million) share repurchase program, effective from August 5, 2021. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The repurchase program is expected to be completed within the year 2021, and... Continue Reading →
(Reuters) - Glencore (GLEN.L) will return $2.8 billion to shareholders in 2021 after soaring commodity prices helped the mining and trading company to a record performance for the first six months of the year, it said on Thursday. The London-listed company joins rivals Rio Tinto (RIO.L) and Anglo American (AAL.L) in declaring bonanza payouts after record half-year profits buoyed by a... Continue Reading →
Italian cabling company Prysmian Group has secured a new contract with Petrobras to deliver deep-water electro-hydraulic umbilicals and specialized offshore and logistic services. As part of the contract, Prysmian will provide 200 kilometres of subsea umbilicals using both steel tube and thermoplastic technology for upgrades in brownfield and greenfield projects in Brazil. The €66 million... Continue Reading →
(Reuters) Oil and gas services company SBM Offshore on Thursday reported a better than expected decline in core profit for the first half of 2021 as it looks to develop floating offshore wind projects. After reducing spending sharply in the face of a pandemic-induced demand collapse, major energy companies have profitted from surging oil and... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider... Continue Reading →
Oil company Enauta informed that it will return the CE-M-661 block, located in the Ceará Basin, after the end of its first exploratory period on site in November this year tothe National Petroleum, Natural Gas and Biofuels Agency (ANP). The company had acquired a 25% stake in the asset in a bidding round held in... Continue Reading →
(Reuters) - BP (BP.L) boosted its dividend and share buybacks on Tuesday, sending its shares up by over 5%, after beating expectations with a $2.8 billion second-quarter profit powered by higher oil prices and recovering demand. The strong results, underpinned by higher sales at petrol stations, went some way towards easing investors' concerns over BP's plan to... Continue Reading →
Offshore drilling contractor Transocean reduced its quarterly losses despite lower revenues and is encouraged by the current upcycle in the offshore drilling market, expecting rig utilisation and day rates to improve moving into the next year. Transocean reported a similar sentiment in its 1Q 2021 financial report back in May 2021 when the rig owner... Continue Reading →
(Reuters) - Italian energy group Eni (ENI.MI) pledged higher shareholder returns after swinging to a net profit in the second quarter to beat expectations as firmer oil prices offset lower production. Adjusted net profit was 929 million euros ($1.1 billion), compared with a loss of 714 million euros in the year-earlier period, Eni said on Friday. The... Continue Reading →
Brazil Energy Insight 