Brought to you by Quest Offshore & Southern Cone Consultants
Italian oil and gas company Eni has released its Eni for 2020 sustainability report, outlining the company’s path to face the global challenges. The company noted its total amount for investments in decarbonization, circular economy and renewables and expenditure on research and development is equal to €5.7 billion in its 2021-24 plan. Eni reminded that The 2030 Agenda... Continue Reading →
Japan's biggest oil and gas explorer Inpex Corp raised its net profit forecast for 2021 by 40% on Thursday thanks to higher than expected oil prices but left its capital expenditure plans unchanged so it can repay more debt. Inpex is now forecasting a net profit of 140 billion yen ($1.3 billion) this year, up... Continue Reading →
Spending in the upstream oil and gas sector is expected to gradually begin to rise from 2022, however, it will not reach the pre-crisis period any time soon as the toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion, Rystad Energy... Continue Reading →
(Reuters) Europe's biggest wind power group Iberdrola (IBE.MC) reaffirmed its 2021 growth outlook on Wednesday after reporting rising quarterly earnings supported by rapid building of renewable energy plants and investments in networks. Buoyed by a global shift towards the low-carbon energy sources it has been investing in for two decades, northern Spain-based Iberdrola plans to almost triple... Continue Reading →
French oil services group CGG posted a 71% plunge in first-quarter core profit on Wednesday, reflecting a year of drastic spending cuts by the oil industry in the pandemic and sending its shares sharply lower. In a call with analysts, CEO Sophie Zurquiyah said the quarter had been slow as expected, but predicted more spending... Continue Reading →
A string of new projects will help boost revenues at SBM Offshore, the oil and gas services company said on Wednesday, after reporting an expected 15% drop in the first quarter due to weakness at its turnkey business. The Dutch-based company's turnkey division builds and sells floating production and storage vessels to oil and gas... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed with the Companhia de Eletricidade do Amapá (CEA), a legal agreement for the termination of litigation and credit recovery by Petrobras, recognized in the amount of R$ 314 million. The agreement establishes the payment to Petrobras of R$ 132.6 million unconditionally, to be settled in... Continue Reading →
Korea Shipbuilding & Offshore Engineering has through its subsidiary Hyundai Heavy Industries secured a ~$764,5 million order for the construction of an FPSO Hull. In a stock exchange filing on Tuesday, KSOE said it had secured a KRW 854,7 billion. It said its contract partner was Singapore's Keppel Shipyard and that the delivery was for... Continue Reading →
(Reuters) Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo Chavez came to power, equivalent to 3.4 million barrels per day (bpd), a document seen by Reuters shows. In the February 2021 document entitled "Investment Opportunities," Petroleos de Venezuela's (PDVSA.UL)... Continue Reading →
Petro Rio S.A. (“Company” or “PetroRio”), following best corporate governance practices, informs its shareholders and the market in general about the drilling in the Polvo Field’s (“Polvo”) Eocene reservoir, which resulted in a well (“POL-K”) with initial production of 2,500 barrels of oil per day, still in the assessment period. This highly satisfying result, following... Continue Reading →
Brazil Energy Insight 