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Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors (BoD), in a meeting held today, approved the improvement of its Shareholder Remuneration Policy (Policy). On 05/11/2023, the BoD determined that the Executive Board should prepare a proposal to improve the Policy, including the possibility of repurchasing shares. The improvement of the Policy became... Continue Reading →
(Reuters) - Brazilian power company Eletrobras (ELET6.SA) expects to invest between 70 billion and 80 billion reais ($16.92 billion) over the next five years, the firm said on Monday, adding it was mulling over 15 potential mergers or acquisitions. Of the total amount, 17.1 billion reais has already been earmarked for electricity generation and transmission projects as... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) said on Tuesday that it would take full control of renewable energy company Total Eren, increasing its stake from 30% in the company to full ownership. TotalEnergies said that as part of the transaction, Total Eren would be valued on an enterprise value basis at 3.8 billion euros ($4.2 billion), and that the... Continue Reading →
(Reuters) - Chevron Corp's (CVX.N) second-quarter earnings topped Wall Street estimates, the company said on Sunday, and Chief Executive Michael Wirth also signaled the number two U.S. oil company remains open to more acquisitions and to increasing shareholder distributions this year. In a rare preview of its results that coincided with the announced retirement of its finance... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, reaffirms its commitment to investments in the Equatorial Margin, as disclosed in its Strategic Plan 2023-2027, recognizing the importance of new frontiers that ensure the country's energy security and the resources necessary for a fair and sustainable energy transition. Exploration in the... Continue Reading →
(OW) Vattenfall has stopped the development of the Norfolk Boreas offshore wind power project in the UK and will review the way forward for the entire 4.2 GW Norfolk Zone, the Swedish energy company revealed in its interim report. The developer said that the decision to stop the project was made due to ”challenging market conditions”,... Continue Reading →
(OE) The board of the Swedish floating wind technology developer Hexicon has rejected a bid on the company from an unnamed "European actor." The bid, which was conditional of the board's recommendation, was set at SEK 1.5 per share, corresponding to a value of SEK 545 million (currently around $53 million) for the entire company. ... Continue Reading →
(Reuters) - Brazil's state-run oil company, Petrobras (PETR4.SA), will keep total investments in its upcoming 2024-2028 business plan similar to the $78 billion foreseen in its latest five-year plan, CEO Jean Paul Prates told Reuters on Monday. Petrobras is preparing to preview updates to its business plan next month, he said, including a greater focus on... Continue Reading →
(OW) UK-based Jee Limited (Jee) and the Dutch consultancy IX Renewables have agreed to join forces on the development of a series of offshore wind projects, including floating wind farms. IX Renewables will set up and manage the developments while Jee will provide engineering services throughout the lifespan of the projects, including conceptual, FEED, and... Continue Reading →
(Reuters) Mexico's state oil company Petroleos Mexicanos will see its crude output reduced by some 100,000 barrels per day (bpd) until the beginning of August after a massive fire on Friday at an offshore platform, a top company source said. The reduced production implies that, in total, Pemex will lose at least 2 million barrels of... Continue Reading →
Brazil Energy Insight 