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(gfmag.com) With US investment in Latin America shrinking, China and India are seizing the opportunity to expand their economic reach in the region. The US remains the largest foreign investor, but its stake dropped nearly 10% in 2023 alone, to 38% of the $224.6 billion total, according to the UN Economic Commission for Latin America... Continue Reading →
(offshore-energy.biz) Colombia’s state-owned oil and gas company Ecopetrol has handed out a contract to compatriot Puertos, Inversiones y Obras (PIO) to provide regasification services in the country’s Pacific Coast area. The new infrastructure will entail receipt and storage facilities in Buenaventura and a regasification facility with a 60 million cubic feet per day (mcfd) capacity... Continue Reading →
(offshoreWIND.biz) According to research from Norway-headquartered Rystad Energy, the global offshore wind industry is set for a rebound in 2025, with capacity additions expected to reach 19 GW and sector-wide expenditure projected to hit USD 80 billion (approximately EUR 76 billion). A record wave of lease auctions is driving the resurgence, said Rystad Energy, with... Continue Reading →
(OM) Seadrill has reported a current overall order backlog of $3 billion, while Velesto reported $158.8 million in orders. Meanwhile, last week competitor Noble reported it added $525 million of contracts to its drilling backlog. Seadrill’s West Polaris drilllship has started a contract with Petrobras offshore Brazil, following a delay caused by commissioning and testing of upgraded equipment. Another of the... Continue Reading →
PRIO S.A. (“PRIO” or “Company”) (B3: PRIO3) and PRIO Forte S.A. (“Issuer”), in compliance with the terms of the Resolution No. 44, of August 23rd, 2021, as amended, issued by the Brazilian Securities and Exchange Comission (“CVM Resolution 44” and “CVM”, respectively), and Resolution No. 160, of July 13, 2022, as amended, issued by CVM... Continue Reading →
PRIO S.A. (“PRIO” or “Company”) (B3: PRIO3), in compliance with CVM Resolution 44/2021, hereby informs its shareholders and the market in general that, at a meeting of the Company’s Board of Directors held on February 25, 2025, an increase in the Company’s share capital in the amount of R$ 2,800,000,000.00, was approved, rising from R$... Continue Reading →
(offshoreWIND.biz) The European Union has unveiled the Clean Industrial Deal, a transformational business plan outlining concrete actions to turn decarbonisation into ‘a driver of growth‘ for European industries by supporting renewable energy sources. Specifically, the plan aims to lower energy prices, create ‘quality’ jobs and the ‘right’ conditions for companies to thrive, accelerating decarbonisation while at... Continue Reading →
(Reuters) - Italian energy group Eni reported a 46% slide in fourth-quarter adjusted net profit on Thursday, hit by lower energy prices and weakness at its refining, biofuel and chemicals divisions. Adjusted net profit for October and December totalled 892 million euros ($934 million), below an analyst consensus of 960 million euros compiled by the company... Continue Reading →
(Reuters) - German wind turbine maker Nordex expects continued growth in its U.S. market despite changes to the renewables landscape in the short term, its CEO said after better than expected core earnings. U.S. President Donald Trump suspended offshore leasing for wind power on his first day in office in January, hitting share prices of European players including... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors (CA), in a meeting held today, authorized the submission to the Annual General Meeting (AGM), scheduled for April 16, 2025, of the proposal for the distribution of dividends equivalent to R$ 9.1 billion. If approved by the AGM, considering the amounts advanced by the... Continue Reading →
Brazil Energy Insight 