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(Reuters) - Brazil's incoming leftist government will not have an interventionist stance on state-run oil giant Petrobras (PETR4.SA), a member of the transition team for President-elect Luiz Inacio Lula da Silva said on Thursday. Senator Jean Paul Prates told reporters that the future administration had no intention of causing a "breakdown" of the company and that... Continue Reading →
(Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva begins interviews this week with candidates to run oil firm Petrobras, people familiar with the talks said, kicking off what may be a rocky few months for the state-controlled company. Lula, who takes office on Jan. 1, has already signaled plans for a dramatic overhaul of... Continue Reading →
Wind turbine maker Siemens Gamesa has appointed Christian Bruch, who is President and Chief Executive Officer of Siemens Energy AG and member of Siemens Gamesa’s Board of Directors, as its new non-executive Chairman. Born in 1970 in Düsseldorf, Germany, Bruch holds a doctorate in engineering from the Swiss Institute of Technology Zurich (ETH), Switzerland. He... Continue Reading →
(Reuters) - Under pressure to increase production, Mexico's state oil company Pemex has risked fines for violations that cause environmental damage rather than delay output to fix the underlying issues, according to two senior company sources. The decision by Pemex to opt for fines instead of repairs represents a major blow to the oil regulator's... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras (PETR4.SA) on Thursday posted a stronger than expected 48% surge in third-quarter profit, the latest in a string of stellar quarters under market-friendly managers whose days may be numbered. Petroleo Brasileiro SA, as it is formally known, reported net profit of 46.1 billion reais ($9.01 billion) or 3.56 reais a... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) will distribute dividends of around 43.68 billion reais ($8.5 billion), the firm said on Thursday, amid controversy over its massive payouts. Petroleo Brasileiro SA, as it is formally known, has been a cash cow for its investors in recent quarters, including the Brazilian government, which owns a controlling stake... Continue Reading →
Petróleo Brasileiro S.A. – informs that its Board of Directors, at a meeting held today, approved the payment of a dividend in the amount of R$ 3.3489 per outstanding preferred and common share. The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that in case of gross debt below US$ 65... Continue Reading →
Italy-headquartered Prysmian Group has been awarded a contract by Réseau de Transport d’Électricité (RTE) to provide power grid asset management services for Saint-Nazaire, Fécamp, and Calvados wind farms offshore France. Under the contract, Prysmian Group will provide inspection, maintenance, and repair services for the submarine export cable links connecting the three offshore wind farms near the... Continue Reading →
Offshore drilling contractor Transocean is expecting the demand for its rigs to remain high in the offshore drilling market, leading to a further improvement in day rates and fleet utilization. In July 2022, Transocean’s quarterly fleet status report showed a total backlog of about $6.2 billion, however, thanks to the new deals and extensions for its rigs, the firm... Continue Reading →
(Bloomberg) -- Investors are closely watching whom Brazilian President-elect Luiz Inacio Lula da Silva will pick to lead Petroleo Brasileiro SA to gauge how much its business strategy will change under the new, more left-wing administration. Lula, a former president who oversaw Petrobras’s expansion into the famed pre-salt region that now delivers about 70% of... Continue Reading →
