Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in compliance with the terms of the Instruction No. 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general, in addition to the material fact published by the Company on May 27, 2021,... Continue Reading →
Schlumberger estimates revenues over $22.5 billion for 2021
Top oilfield service provider Schlumberger NV (SLB.N) on Wednesday estimated 2021 revenues would top $22.5 billion, as oil and gas prices recovered and the company tapped into a growing market for low-carbon technology. The company expects 2021 adjusted EBITDA margins of between 20.8% and 21.3%, according to a conference presentation, and free cash flow margins over 10%.
IEA: Energy Investments to Recover by 10% in 2021, But will Fall Short of Net-Zero Path
(OE) Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals. More of the $1.9 trillion in investment is projected to shift toward electricity than... Continue Reading →
Petrobras announces offering of Global Notes and commencement of cash tender offers
Petróleo Brasileiro S.A. – Petrobras announces that its wholly-owned subsidiary, Petrobras Global Finance B.V. (“PGF”), has commenced (i) an offering of U.S. dollar-denominated global notes in the international capital markets (the “New Notes”), subject to market and other conditions (the “New Notes Offering”), and (ii) cash tender offers to purchase any and all of certain of its... Continue Reading →
Portugal’s Galp Energia gets greener and cuts five-year spending plan
Portugal's Galp Energia (GALP.LS) will sharpen its focus on renewable energy and limit fossil fuel spending to already approved developments, resulting in a 20% cut in five-year capital expenditure, the company said on Wednesday. Oil and gas company Galp is following a broader trend, as energy companies curb investment in fossil fuels in favour of green power... Continue Reading →
Equinor Sanctions $8B Bacalhau Field Development in Brazil
Norwegian oil and gas company Equnior has made a final investment decision for the development of the Bacalhau field offshore Brazil. The development of the field located in the Santos Basin will cost around $8 billion. Arne Sigve Nylund, Equinor’s executive vice president for Projects, Drilling, and Procurement said: "This is an exciting day. Bacalhau is the... Continue Reading →
Borr upbeat about market amid strong tendering and contracting activity
Offshore drilling contractor Borr Drilling is optimistic and encouraged by signs of shallow water rig market recovery amid strong tendering and contracting activity, clearly visible in the rig owner’s latest contract wins and extensions. The company and its Drilling JVs have been awarded 17 new contracts, extensions, exercised options, and LOAs/ LOIs from the start... Continue Reading →
Petronas Says Demand Recovery Uncertain as 1Q Profit Doubles
Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic. Petronas said on Monday it made a post-tax profit of 9.3 billion ringgit ($2.25 billion) in January-March, against 4.5 billion ringgit in the same quarter... Continue Reading →
PETRORIO OFFERING OF SENIOR NOTES
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in accordance with the provisions of Instruction No. 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general that PetroRio Luxembourg S.à.r.l., incorporated under the laws of the Grand Duchy of Luxembourg (“PetroRio... Continue Reading →
Petrobras on collective action in the Netherlands
Petróleo Brasileiro S.A. – Petrobras, further to the press release dated January 29, 2020, announces that the District Court of Rotterdam (the Court) yesterday rendered an interim judgment regarding the admissibility of the collective action filed in 2017 by Stichting Petrobras Compensation Foundation (the Foundation) in the Netherlands against Petrobras and other defendants. The Foundation... Continue Reading →
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