Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on March 1, 2023, informs that its Executive Board has forwarded for the appreciation of the Board of Directors the following proposal for response to Letter 166/2023/GM-MME from the Ministry of Mines and Energy (MME): we carried out a preliminary study on the divestment... Continue Reading →
Petrobras on nominations to the Board of Directors and Fiscal Council
Petróleo Brasileiro S.A. - Petrobras, following up on the press releases of 02/28/2023, 03/01/2023 and 03/08/2023, informs that it received an official letter from the Ministry of Mines and Energia (MME) presenting, in a supplementary manner, three nominations of candidates for the slate of the Federal Government, as controlling shareholder, for the eight vacancies of... Continue Reading →
Subsea 7 buys more into Seaway 7, issues voluntary offer to acquire remaining shares
Subsea 7 has completed the acquisition of additional shares in Seaway 7, bringing its total ownership of the issued and outstanding share capital in the company to 93.94 per cent. On 14 March, Subsea 7 announced it had completed the acquisition of 187,889,551 shares in Seaway 7, corresponding to 21.52 per cent of Seaway 7’s... Continue Reading →
Yinson Partners with AVEVA to Develop Fully Autonomous FPSOs
Malaysian FPSO provider Yinson has partnered up with industrial software firm AVEVA to enable Yinson to develop "fully autonomous and sustainable" Floating Production Storage and Offloading (FPSO) solutions. "AVEVA’s software, in combination with [Yinson's] FPSO expertise and extensive data sets, will enable [Yinson] to operate its FPSO with minimal human involvement, and with a vision for... Continue Reading →
Exclusive: Mexico’s Pemex, ‘punished’ by markets, weighs how to pay heavy debt
(Reuters) - Mexico's heavily-indebted state oil company Pemex will seek to avoid pricy capital markets even as it faces billions in maturing debts this year and next, its chief executive told Reuters, saying Pemex had been "punished" by ratings agencies despite measurable improvements in its operational numbers. With its financial debt totaling nearly $108 billion... Continue Reading →
Petrobras Must Prepare for ‘Unavoidable’ Energy Transition, CEO says
(Reuters) The chief executive of Brazilian state-run oil company Petrobras said on Thursday the company must prepare for an "unavoidable" energy transition and wants to play a leading role in it. Jean Paul Prates highlighted in a conference call with analysts that Petroleo Brasileiro SA's deepwater operations put the company in a good position for wind... Continue Reading →
Petrobras on the request to suspend sales of assets for 90 days
Petróleo Brasileiro S.A. – Petrobras informs that it received Official Letter 166/2023/GM-MME from the Ministry of Mines and Energy (MME) yesterday requesting the suspension of the sales of assets for 90 (ninety) days, due to the reassessment of the National Energy Policy currently underway and the establishment of a new composition of the National Energy... Continue Reading →
UK’s Engineering Giant Wood Group Rejects Takeover Approach
(Reuters) Shares of John Wood Group Plc surged over 30% on Thursday after the company said it received three preliminary buyout proposals from private equity firm Apollo Global Management Inc. The British oilfield services and engineering firm said late on Wednesday that its board had rejected all the proposals, saying they "significantly undervalued" the company's... Continue Reading →
Petrobras on nominations for the Executive Board
- Petróleo Brasileiro S.A - Petrobras informs that its CEO Jean Paul Terra Prates has indicated 2 new members for the composition of the Executive Board: Chief Institutional Relations and Sustainability Officer, Mrs. Clarice Coppetti; Chief Financial and Investor Relations Officer, Mr. Sergio Caetano Leite. The nominations will be submitted to the internal procedures of... Continue Reading →
U.S. charges Connecticut trader with bribery related to Brazil’s Petrobras
(Reuters) - U.S. prosecutors on Friday unveiled corruption charges against a Connecticut oil and gas trader and a second man over their alleged roles in a bribery scheme to win business from Brazil's state-owned oil company Petrobras (PETR4.SA). The Department of Justice said that between 2010 and 2018, Glenn Oztemel, 64, of Westport, Connecticut, and Eduardo... Continue Reading →
Brazil Energy Insight 