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(Investing.com) On Monday, Ocean Wilsons Holdings Ltd. announced the sale of its majority stake in Wilson Sons S.A. to MSC Mediterranean Shipping Company's subsidiary, SAS Shipping Agencies Services Sàrl, for a total cash consideration of R$4.352 billion. This equates to R$17.50 per share and represents Ocean Wilsons' 56.47% interest in the Brazilian maritime logistics operator.... Continue Reading →
This October, MODEC celebrates 10 years since FPSO Cidade de Mangaratiba MV24 went into operation. The FPSO is anchored in the Lula Field, in the Iracema Sul area, with a water depth of 2,200 meters and is capable of processing 150 thousand barrels of oil per day and 8 million cubic feet of natural gas... Continue Reading →
(Reuters) French oil major TotalEnergies (TTEF.PA), opens new tab has agreed to sell a network of about 240 retail fuelling stations plus ethanol and oil products storage facilities in Brazil to a subsidiary of Grupo Argenta, the company said on Friday. The amount of the transaction was not announced. TotalEnergies will keep its lubricants blending and distribution... Continue Reading →
(Reuters) - Oilfield services firm SLB's third-quarter profit rose 13% and beat analysts' estimates on Friday on steady demand for its equipment and technology in international market and from offshore projects in North America. However, the company warned of limited spending by international producers in a weak oil price environment. SLB, which gets 81% of its... Continue Reading →
It has been announced that Inyanga Marine Energy Group is taking over the D10 tidal turbine in France. The D10 tidal turbine was the first grid-connected tidal turbine in France, initially deployed in 2015. It is located in the Fromveur Passage, off the coast of Brittany, and provides clean sustainable energy to the remote island... Continue Reading →
(Reuters) - Brazil's Petrobras is discussing a partnership with Vale to help the mining company lower carbon emissions, the state-run oil firm's Chief Executive Magda Chambriard said on Monday. WHY IT'S IMPORTANT The two Brazilian companies are among the largest in Latin America by market value. Chambriard said the firms will "help each other" decarbonize, with a... Continue Reading →
(Reuters) - Brazil's Petrobras is set to reduce planned investments for next year, despite requests by the government for the state-run oil firm to increase CAPEX, three sources close to the matter told Reuters. The firm foresaw $21 billion of investments for next year, but spending could be down to around $17 billion, according to initial... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA), opens new tab has been able to provide Brazilians with price stability despite market volatility caused by an escalation of the conflict in Middle East, its top executive said on Thursday. In an interview with Reuters, CEO Magda Chambriard said Petrobras' commercial strategy allows it "to offer competitive prices... Continue Reading →
(Bloomberg) Petrobras is nearing a deal with Brazil regulators allowing it to move forward with plans to redevelop the massive Tupi oil field that could reinvigorate the country's stalled production, the company's head of exploration and production Sylvia dos Anjos told Bloomberg on Friday. The company expects to resolve a long-running tax dispute with regulator ANP by year-end... Continue Reading →
(Reuters) - BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40%... Continue Reading →
Brazil Energy Insight 