Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Argentine state oil company YPF blew past expectations with a third-quarter net profit of $1.47 billion posted on Thursday, boosted by increases in output and prices of oil and natural gas. Analysts polled by LSEG expected YPF to post a much smaller net profit of $312 million, but still reversing its year-ago loss... Continue Reading →
“In this third quarter of 2024, we achieved consistent financial results amid a context of declining Brent prices, which we were able to offset with higher sales volumes of oil products. We maintained strong cash generation of US$ 11.3 billion, up 24% from the previous quarter, sustained by the quality and performance of our assets.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors (CA), in a meeting held today, approved the payment of interim dividends in the amount of R$ 17.12 billion, equivalent to R$ 1.32820661 per common and preferred share in circulation, as an anticipation of the remuneration to shareholders related to the fiscal year 2024,... Continue Reading →
(Reuters) - Industry insiders are worried Chile is falling behind the global green hydrogen race despite having a head-start due to its strong renewable energy matrix and geographic advantage to export to Asian markets. In a panel about energy transition in Santiago, companies betting billions on green hydrogen in the Andean nation said lengthy permitting... Continue Reading →
(Reuters) - Portugal's largest utility EDP posted on Thursday a stronger-than-expected 14% rise in nine-month net consolidated profit, benefiting from strong rainfall in Iberia and additional earnings from its Brazilian unit after a full takeover. EDP pocketed a net 1.08 billion euros ($1.17 billion), beating the average analysts' forecast of 993 million euros in an... Continue Reading →
SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO Prosperity, ahead of the maximum lease term, which would have expired in November 2025. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and... Continue Reading →
(Reuters) - Oilfield services provider Halliburton missed analysts' estimates for third-quarter profit on Thursday, weighed down by a slowdown in drilling activity in North America and the impact of a previously disclosed hack. The company's shares slipped 1.5% to $30.05 in premarket trading. Halliburton in August disclosed a cyberattack where an unauthorized third party accessed and removed data... Continue Reading →
(Reuters) - Demand for green power in the United States will grow regardless of who is the country's next president, major players in the wind energy sector Vestas and Orsted said on Tuesday. Offshore wind developers have seen profits shrink in recent years due to rising raw material costs, high interest rates, inadequate grid connections, supply chain bottlenecks,... Continue Reading →
(Reuters) - Argentine officials celebrated the formal kick off of a major natural gas pipeline on Monday, a project that will provide supply from the country's booming shale development to both homes and businesses as well as eventually allowing for exports. The start of operations for the Northern Natural Gas Pipeline, originating in western Neuquen... Continue Reading →
(ofshore-energy.biz) Isle of Man-headquartered oil and gas player Challenger Energy Group (CEG) is carrying out a data reprocessing program at a shallow water exploration block off the coast of Uruguay, expected to back a formal farm-out process anticipated to commence in mid-2025. A program of reprocessing work is underway at the AREA OFF-3 block to secure... Continue Reading →
Brazil Energy Insight 