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Energy transition company Technip Energies has agreed to buy €20 million (approx $24.2 M) equivalent of its own shares from TechnipFMC. In February 2021, TechnipFMC and Technip Energies were separated as two independent, publicly traded companies. Technip Energies deals in LNG, hydrogen, and ethylene as well as blue and green hydrogen, sustainable chemistry, and CO2 management,... Continue Reading →
Energy group BP (BP.L) said on Tuesday it expects to have hit its $35 billion net debt target in the first quarter of this year, sooner than expected and paving the way for it to deliver on its promise of buying back shares. "This is a result of earlier than anticipated delivery of disposal proceeds combined with... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that will pay, on Thrusday, 04/29/2021, dividends referred to the 2020 fiscal year, based on shareholding position as of 04/14/2021, in connection to the Material Fact released on that date. The amount of dividends to be paid will be adjusted by Selic interest rate from 12/31/2020 to 04/29/2021 interest... Continue Reading →
(Rigzone) Diamond Offshore Drilling, Inc. (OTCMKTS: DOFSQ) reported Monday that it, along with its debtor affiliates, emerged from Chapter 11 bankruptcy on April 23, 2021, after successfully completing a financial reorganization In addition, Marc Edwards has retired as the drilling contractor’s chairman, president, and CEO effectively immediately and that Executive Vice President and Chief Operating... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras reports that it will release its 1Q21 production and sales Report tomorrow, April 27, 2021 and its 1Q21 financial performance Report on May 13, 2021, both after the markets close. On May 14, 2021 two webcasts will be held, the first in Portuguese and the second in English, to present... Continue Reading →
Portugal's Galp Energia on Monday reported a 13% slump in adjusted first-quarter net profit, hit by a decline in oil production owing to constraints caused by the COVID-19 pandemic and slower refining activity. Galp suspended output at its largest refinery in Sines and its smallest, Matosinhos, in April 2020. It resumed production at both locations... Continue Reading →
(Reuters) Exxon Mobil’s effort to build an energy trading business to compete with those of European oil majors unraveled quickly last year as the firm slashed the unit’s funding amid broader spending cuts, 10 people familiar with the matter told Reuters. The cuts left Exxon traders without the capital they needed to take full advantage... Continue Reading →
(Bloomberg) -- After one of the most difficult years in the oil industry’s history, crude prices have recovered and major producers are finally generating spare cash. Investors really want to get their hands on it, but most are likely to be disappointed. That’s because the pandemic has created a legacy of debt for the world’s... Continue Reading →
(Reuters) Total declared force majeure on its $20 billion liquefied natural gas (LNG) project in Mozambique and confirmed it had withdrawn all staff from the construction site following insurgent attacks last month. Dozens of civilians were killed in the Islamic State-linked attacks in the coastal Mozambique town of Palma, near gas projects that are worth... Continue Reading →
(PetroNoticias) The English company Marin Holding International hired the law firm Luzone Legal, specialized in the business area and in the oil and gas sector, to sue Petrobras for possible losses arising from the services provided by the vessel, Vitoria 10,000. As a reminder, the case is one of the most emblematic in the oil... Continue Reading →
Brazil Energy Insight 