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(OE) MODEC and Terra Drone Corporation have entered into a joint research and development agreement to enhance inspection drones for floating production, storage and offloading (FPSO) vessels. The agreement follows the memorandum of understanding signed by the companies in November 2023. Since, MODEC has continuously utilized Terra Drone’s drone technology to measure the hull thickness... Continue Reading →
(Reuters) BP's new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R”) and ENAUTA PARTICIPAÇÕES S.A. (“Enauta” and, jointly with 3R, the “Companies”), under the terms of article 157, §4, of Law No. 6,404, December 15, 1976 (“Brazilian Corporate Law”), CVM Resolution No. 44, August 23, 2021, following the material facts disclosed on April 1 and 9, 2024, and May 17,... Continue Reading →
(Reuters) - BP has agreed to buy grain trader Bunge's 50% stake in Brazilian sugar and ethanol joint venture BP Bunge Bioenergia for $1.4 billion in a bet on growing demand for low-carbon biofuels. Following the completion of the deal, expected by end-2024, BP will take full ownership of Bioenergia which has production capacity of around 50,000... Continue Reading →
(Reuters) - The head of Brazil's environmental agency said on Wednesday that he expects a decision soon on state-owned oil company Petrobras' request to conduct exploratory studies in a region known as the Equatorial Margin, as both the company and the government push for a drilling license. Petrobras has been seeking to explore the northernmost part... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, following up on the Material Facts/Communications published on 03/07/2024, 04/25/2024, 05/02/2024 and 06/13/2024, informs that will pay today the second installment of dividends relating to the balance sheet of December 31, 2023. The gross amount to be distributed today, in the form of dividends, is R$ 1,46934144 per ordinary and ... Continue Reading →
(Offshore-energy.biz) Paratus Energy Services, a Bermuda-headquartered holding company of a group of energy service players, has shared its intention to list the firm’s shares on the Euronext Growth stock exchange market in Oslo, Norway, followed by a planned uplisting to the Oslo Stock Exchange. Paratus explained that the offering it plans to launch will entail... Continue Reading →
(OE) Dutch thermoplastic composite pipe (TCP) technology company Strohm has secured $21.4 million ($20 million) investment from SENCO Hydrogen Capital, aimed at boosting its growth trajectory focused on hydrogen and carbon capture utilization and storage (CCUS) applications. The partnership between the two companies also seeks to reduce carbon footprint in the pipeline infrastructure for conventional... Continue Reading →
(Bloomberg) -- Brazilian oil giant Petrobras agreed to pay 19.8 billion reais ($3.49 billion) in back taxes to the federal government at a time when President Luiz Inacio Lula da Silva is seeking increased revenue to help balance the budget. The settlement, approved by the state-controlled driller’s board on Monday, is the first major decision... Continue Reading →
(OE) Back-deck engineering specialist Maritime Developments (MDL) has appointed Derek Lynch as Market Development Manager – Renewables as part of its diversification strategy aimed to strengthen the commitment to renewable energy market. With over 30 years’ experience across various energy markets and sectors, Lynch brings with him extensive track record in developing and delivering diversification... Continue Reading →
Brazil Energy Insight 