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(Reuters) BP reported quarterly profit of $1.17 billion on Tuesday, weaker than expected and the lowest in four years, while the company promised to reset its strategy, after news broke at the weekend that investor Elliott Management had built up a stake. BP joins other oil majors that have experienced a decline in earnings throughout... Continue Reading →
(offshoreWIND.biz) The Norwegian government has cancelled plans for another fixed-bottom offshore wind tender in the North Sea due to cost concerns, shifting its focus toward developing floating offshore wind projects. On 10 February, the Ministry of Energy announced that it no longer plans to advertise the Sørvest F later this year, which is an extension... Continue Reading →
(OE) Italian offshore energy services firm Saipem has entered into a new $620 million revolving credit facility with a pool of fourteen national and international financial institutions. The facility has a tenor of three years, extendable for a further period of either one or two years at the option of the lenders. The new credit... Continue Reading →
BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3:BRAV3), pursuant to CVM Resolution No. 44, following the Notice to the Market disclosed on December 17, 2024, hereby informs its investors and the market in general that it signed, on February 7, 2025, with the consortium formed by Azevedo e Travassos Petróleo S. A. (“A&T”) and Petro-Victory Energy... Continue Reading →
(Reuters) - Shares in BP rose by 7% on Monday, and were on track for the biggest daily gain in two years, as investors anticipated that activist shareholder Elliott Management will press for board changes and strategy shifts to boost returns. BP CEO Murray Auchincloss, appointed in January last year, has struggled to reverse the company's underperformance. Expectations... Continue Reading →
(offshoreWIND.biz) Ørsted will reduce the investment programme the company planned to implement by 2030 by around 25 per cent, saying the reduction was in line with its commitment to ensure a capital structure that can support a solid investment grade credit rating. The slimmed-down strategic investment programme will not affect Ørsted’s construction portfolio which totals... Continue Reading →
(Reuters) - The cost of clean energy technologies worldwide, such as wind, solar and battery storage, are expected to fall further this year, a report by BloombergNEF showed on Thursday, despite rising protectionism in the form of tariffs on green energy imports. WHY IT'S IMPORTANT New wind and solar farms already undercut the production costs... Continue Reading →
(Reuters) - Brazilian oil company Prio has denied being in talks to buy the 60% stake owned by Norway's Equinor in the Peregrino oil field. In a securities filing late on Thursday, the company countered a report by newspaper Folha de S.Paulo published earlier that day that said, citing sources, that there were ongoing talks for the... Continue Reading →
(oilprice) Colombia’s president, Gustavo Petro, has canceled a joint venture between state energy company Ecopetrol and Occidental Petroleum on environmental concerns regarding hydraulic fracturing. Bloomberg reported that Petro had shared his concern on national TV, saying he was against a recent expansion of the deal between Ecopetrol and Oxy because it involved fracking, going counter... Continue Reading →
Subsea7 managed to come out on top and present the best proposal in a Petrobras bidding process for the supply of SURF (subsea umbilicals, risers and flowlines) for the P-83 (Buzios 11) platform vessel. The Norwegian company submitted an offer of R$8.45 billion (US$1.4 billion) in the competition. The Swiss company Allseas came in second... Continue Reading →
Brazil Energy Insight 