Offshore accommodation rig provider Prosafe has secured a contract extension for one of its units for operations in Trinidad and Tobago. In an update on Thursday, Prosafe revealed that the firm charter period for its Safe Concordia unit in Trinidad and Tobago has been extended and takes the firm operational period through to end-January 2022. The total... Continue Reading →
Trafigura nearly doubles profit to hit record in FY 2021
(Reuters) - Global commodity trader Trafigura Group hit a record net profit for a second year running in its 2021 financial year after a strong performance across divisions and significant energy market dislocations. The Geneva-based firm posted a net profit of $3.1 billion for its financial year ending Sept. 30, almost double the previous year.... Continue Reading →
Petrobras concludes the sale of the Miranga Cluster
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/24/2021, informs that it concluded today the sale of its total stake in nine onshore exploration and production fields, jointly called Miranga Cluster, located in the state of Bahia, to SPE Miranga S.A., a wholly owned subsidiary of PetroRecôncavo S.A. (PetroRecôncavo). After compliance... Continue Reading →
Petrobras concludes the sale of thermal power plants
Petróleo Brasileiro S.A. – Petrobras, following up on the release diclosed on 05/03/21, informs that it has concluded today the sale of the three fuel oil-fired thermal power plants located in Camaçari, in the state of Bahia (UTEs Polo Camaçari) to São Francisco Energia S.A., a subsidiary of Global Participações em Energia S.A. (GPE). After... Continue Reading →
Hopes for Argentina IMF deal grow
The never ending saga... (Reuters) - Labor activist Alejandro Bodart marched down the Buenos Aires streets two decades ago to protest against the International Monetary Fund, which many then blamed for austerity measures that sharpened Argentina's worst ever economic crisis. Now Bodart is on the war path again, worried that a new deal to roll... Continue Reading →
Oil market hit by wave of hedge fund liquidation: Kemp
(Reuters) - Fears over the Omicron coronavirus variant's impact on international aviation and other sources of oil demand have prompted massive liquidation of previously bullish hedge fund positions. Hedge funds and other money managers sold the equivalent of 131 million barrels in the six most important petroleum futures and options contracts in the week to... Continue Reading →
Pemex replaces CFO as Mexico’s president tightens his grip
(WO) Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. In Pemex’s first C-suite shift under the current administration, the Mexican producer named risk management chief Antonio Lopez Velarde its chief financial officer, replacing Alberto Velazquez Garcia, who will run a new... Continue Reading →
3R Petroleum – Cancellation of the 1st Debenture Issuance
3R PETROLEUM ÓLEO E GÁS (“Company”) (B3: RRRP3), pursuant to the provisions of Articles 74 and 157, Paragraph 4 of Law 6.404/76 and the provisions of Brazilian Securities and Exchange Commission (“CVM”) Resolution No. 44, dated of August 23, 2021 and in complement of the material fact published by the Company on August 27, 2021,... Continue Reading →
Argentina’s YPF nears loan deal to ease $400 mln debt pile next year
(Reuters) - Argentine state energy firm YPF (YPFD.BA) is close to signing a loan deal with a multilateral lender which could cover part of its $400 million debt obligations next year, its chief financial officer said on Thursday, which will free up funds for investment. Alejandro Lew said the loan would inject funds to balance out repayments... Continue Reading →
Chevron plans $15 billion spending budget for 2022
U.S. oil major Chevron Corporation has revealed its 2022 organic capital and exploratory spending programme of $15 billion, at the low end of its $15 to $17 billion guidance range and up more than 20 per cent from 2021 expected levels. The company also expects to increase its share buyback programme. As explained by Chevron on Monday, this capital programme... Continue Reading →
