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(Reuters) - Brazil's mines and energy minister thinks it is way past time for state-run oil company Petrobras (PETR4.SA) to reduce diesel and gasoline prices at its refineries, after a recent drop in oil prices and the strengthening of the Brazilian real. Alexandre Silveira said on Friday he saw room for the oil giant to lower diesel... Continue Reading →
(Reuters) - BP (BP.L) is seeking partners for offshore wind projects in Japan and may invest in hydrogen technology companies to tackle inflation and equipment bottlenecks that have battered the renewables sector. The oil major plans to expand in low carbon energy in the coming decades as it seeks a long-term business model that can survive the... Continue Reading →
(Reuters) Chevron’s deal to buy Hess will unlock $15 billion worth of tax benefits that had once been relegated to the accounting dustbin, as the combined company takes advantage of Hess’s past losses to cut future payments, according to the company and tax experts. The tax shield is a little-known advantage to Chevron's mega-takeover of Hess... Continue Reading →
(OW) Ørsted’s Chief Financial Officer (CFO) and Chief Operating Officer (COO) are leaving the company, and with immediate effect, as a result of “a challenging and volatile business environment” in the industry, according to the offshore wind major. Ørsted is already head-hunting for the new CFO and COO. Daniel Lerup and Richard Hunter, Ørsted’s now-former CFO and... Continue Reading →
(OET) France’s energy giant TotalEnergies has published its new annual energy outlook, presenting scenarios for the evolution of demand and the global energy system to contribute to the energy transition’s debate in the run-up to COP28. While the decarbonization engine is not running smoothly and needs to be tweaked to reach full speed, the oil... Continue Reading →
(OW) Siemens Gamesa has discontinued its plans to build and operate an offshore wind turbine blade manufacturing plant in Virginia, US. The company’s USD 200 million (about EUR 187 million) manufacturing plant was planned to be built at the Port of Virginia’s Portsmouth Marine Terminal. It was intended to support major US offshore wind projects,... Continue Reading →
(OET) Italy-headquartered cabling giant Prysmian Group has revealed strong results for the first nine months of 2023, with new orders year-to-date amounting to approximately €13 billion, including projects for which the Italian player has been selected as the preferred bidder. This was driven by energy transition and electrification, which are expected to remain long-term growth... Continue Reading →
Petróleo Brasileiro S.A. –Petrobras, under the terms of CVM Resolution No. 44, of August 23, 2021, and in addition to the material fact disclosed on October 16, 2023, informs that the guidance for its own oil and gas production and its CAPEX have been revised. For total own oil and gas production, the figures went from... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of dividends and interest on own equity in the amount of R$ 17.5 billion, as anticipation for 2023, declared based on the balance sheet of September 30, 2023. The approved proposal is in line with the improved... Continue Reading →
Main achievements: Solid recurring EBITDA of US$ 13.7 billion Gross debt under control at US$ 61 billion, even after the increase in leases with the start-up of FPSO Anita Garibaldi Consistency in cash generation: Operating Cash Flow of US$ 11.6 billion, the fourth highest ever Return to society with tax and dividends payments of R$... Continue Reading →
Brazil Energy Insight 