Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - A week into the United Nations' high-profile climate conference in Glasgow, executives and financial analysts said they are optimistic the talks will lead to changes needed for business to play a bigger role in tackling climate change. The business observers pointed to several steps by world leaders they said could boost sustainable business... Continue Reading →
3R Petroleum's Board of Directors approved the price per share of R$33.00 for the oil company's share offering. The Board also approved the effective increase in the company's capital stock in the total amount of R$ 2,168,100,000.00, through the issuance of 65,700,000 new common, registered, book-entry shares with no par value. Within the scope of... Continue Reading →
France-based geophysical services company CGG has reported a segment revenue of $270 million for the third quarter of 2021, up 35% year-on-year and 71% sequentially. In Q3 2021, CGG’s Geology, Geophysics and Reservoir (GGR) segment revenue was at $168 million, up 12% year-on-year and 53% sequentially, and the segment’s operating income was $30 million. Multi-Client segment... Continue Reading →
Completion of the tieback between the Polvo and Tubarão Martelo fields, in the Campos Basin, allowed for a reduction in operating costs ("OPEX") of US$ 50 million per year The third quarter results evidenced PetroRio's successful strategy of increasing production levels and rationalizing costs, with excellence in environmental responsibility, safety and operational efficiency. The largest... Continue Reading →
Offshore accommodation rig provider Prosafe has achieved the highest quarterly fleet utilisation rate since 2019, nearly quadrupling its revenues and shrinking net loss when compared to the third quarter last year. In its 3Q 2021 report on Thursday, Prosafe said that its fleet utilisation rate in the third quarter of 2021 was 70.9 per cent compared to... Continue Reading →
(Reuters) - Finding themselves at the sharp end of a global inflation shock, emerging market central banks are expected to raise interest rates at a pace not seen in more than a decade -- moves bound to aggravate debt problems and hurt equity markets. Soaring price pressures have seen rate hike expectations shift up even... Continue Reading →
(Bloomberg) --As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the Covid-19 pandemic, according to BP Plc. Fossil fuel consumption is recovering despite growing urgency in the effort to curb emissions of greenhouse gases. The resurgence... Continue Reading →
Two giant offshore drilling contractors, Transocean and Valaris, are encouraged by continued and meaningful signs of improvement in the market environment and an increase in rig day rates and contract durations. Previously, reasons for optimism were also visible in the rig owners’ recent fleet status reports, where both companies reported on a number of new contracts... Continue Reading →
Offshore wind spending is closing the gap on oil and gas investments and is expected to surpass them in several important countries by 2030, with the U.S. to see the fastest growth in offshore wind investment, Norway's Rystad Energy said Monday. "While global O&G capital expenditure will rise nominally in this timeframe, anticipated growth in... Continue Reading →
(Reuters) - BlackRock Inc (BLK.N) told Reuters it has raised a target-beating $673 million for an infrastructure fund with backing from the French, German and Japanese governments to invest in climate-focused projects such as renewable energy in emerging markets. The world's largest money manager hopes the fund, to be announced on Tuesday and dubbed the Climate Finance... Continue Reading →
