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(Reuters) - Chinese refiner Sinopec posted a 52.1% year-on-year decline in net profit to 8.54 billion yuan ($1.2 billion) for the third quarter because of lower oil prices and weak refining margins. The world's largest refiner by capacity, Sinopec's third-quarter revenue was 790.4 billion yuan, down 9.8% from a year earlier, the company said in... Continue Reading →
(Reuters) Portugal's Galp Energia on Monday posted a 22% fall in third-quarter adjusted core profit, hit by lower oil output and a sharp drop in refining margins, but earnings still beat estimates for the period. The energy firm reported adjusted earnings before interest, taxes, depreciation and amortization of 820 million euros ($885 million), beating the... Continue Reading →
(oilnow.gy)Guyana is set to witness the startup of its fourth oil development, Yellowtail—one of the largest investments ever made in the country. Priced at US$10 billion, this project is spearheaded by ExxonMobil and its Stabroek Block partners Hess and CNOOC. The Yellowtail project will feature the ONE GUYANA floating production storage and offloading (FPSO) vessel,... Continue Reading →
(oilnow.gy) SBM Offshore’s Chief Executive Officer, Øivind Tangen confirmed that the upcoming Jaguar floating production storage and offloading vessel (FPSO) will be executed with the same team and expertise that handled the Liza Unity FPSO. “We inherently bring all the learnings from [Liza] Unity and the execution of [Liza] Unity into that project,” said Tangen said in an... Continue Reading →
(Reuters) - Italian energy group Eni (ENI.MI), opens new tab will increase its share buyback programme by 25% to 2 billion euros ($2.2 billion), it said on Friday, after beating third-quarter profit expectations. It reported an adjusted net profit of 1.27 billion euros, topping the 1.08 billion expected by analysts in a poll compiled by the company... Continue Reading →
(offshore-energy.biz) Norway-based energy data and intelligence company TGS has reported record-high ocean bottom node (OBN) contract activity in the third quarter of 2024, the first quarter including PGS, with the utilization of its streamer fleet improving on high bid activity. In Q3 2024, TGS said that the activity level within OBN acquisition was historically high, generating revenues... Continue Reading →
As of November, executive Olivier Bahabanian will become the new president of the company in the country, in addition to also assuming the position of general director of the company for the Exploration and Production business. He will replace Charles Fernandes, who has held these two positions since 2021. Olivier has almost 20 years of... Continue Reading →
(Reuters) - Saipem is about to start work on deep water drilling in Namibia for Portugal's Galp Energia , the chief executive of the Italian energy contractor said on Thursday. In early 2024 Galp carried out tests at its Mopane-1X and Mopane-2X wells and estimated in April that the Mopane field could hold at least 10 billion barrels of... Continue Reading →
(Reuters) - The chief of Europe's largest utility Iberdrola (IBE.MC), opens new tab gave a bullish outlook for the coming years on Wednesday, pledging to build on a strategy to focus investment on expanding and upgrading grids in Britain, the United States and elsewhere. While pouring billions into power grids and taking a more selective approach to... Continue Reading →
BRAVA ENERGIA (“BRAVA”) (B3: BRAV3) (“Company”), pursuant the provisions of CVM Resolution No. 44, hereby informs its investors and the market in general about updates on Papa-Terra and Atlanta fields: I. Papa-Terra On October 18, 2024, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) authorized, by means of an Official Letter, the Company's... Continue Reading →
Brazil Energy Insight 