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Petro Rio S.A. (“PRIO”) (B3: PRIO3) informs that it has received a notice from Petroleo Brasileiro S.A. (“Petrobras”) informing of the termination of the Albacora Field (“Field” or “Albacora”) divestment process, as the parties have not reached an agreement regarding the valuation of the asset.Despite Albacora’s potential, PRIO believes that a transaction with values above... Continue Reading →
(Reuters) Siemens Energy said on Tuesday it has a placed 960 million euro ($949.63 million) mandatory convertible bond to help fund its takeover bid for wind turbine maker Siemens Gamesa. It expects settlement of the notes to take place on or around Sept. 14, it said in a statement. "With the planned full integration of... Continue Reading →
Oilfield services firm Baker Hughes Co said on Tuesday it will simplify its organizational structure by reducing its business units to two from four, starting October 1. The company added it expects to deliver at least $150 million in cost savings. The Houston, Texas-based firm said it will combine its Oilfield Services and Oilfield Equipment... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, informs that its CEO Caio Mário Paes de Andrade has appointed Paulo Palaia for the position of Chief Digital Transformation and Innovation Officer, replacing Juliano Dantas. The nomination will be submitted to the internal corporate governance procedures, including the respective compliance and integrity analyses required for the company's succession process,... Continue Reading →
(OE) Shell has shortlisted four candidates to succeed Chief Executive Ben van Beurden who is preparing to step down next year after nearly a decade at the helm of the giant energy firm, two company sources told Reuters. During his tenure, van Beurden oversaw Shell's biggest acquisition in decades and steered the company through two... Continue Reading →
(Reuters) - Chevron Corp has asked the U.S. government to expand its license to operate in Venezuela after the oil major agreed with state-run PDVSA to revamp joint ventures in the sanctioned country, six people close to the matter said. Chevron's authorization request is the California-based company's latest attempt to have a greater say in... Continue Reading →
(OE) The UK Competition and Markets Authority (CMA) has accepted Noble Corp. and Maersk Drilling's plan to sell certain rigs operating in the North Sea in order to alleviate competition concerns arising from the two drillers' planned merger. The two offshore drilling firms said in November 2021 announced a proposed business combination. However, the CMA... Continue Reading →
(Reuters) Wholesale gas prices have scaled "insane" levels that will ultimately hurt demand, although the lack of Russian gas means Europe's supply will be tight for several years, the chief executive of German oil firm Wintershall Dea said on Tuesday. The benchmark European gas contract TRNLTTFMc1 has risen by more than 300% in a year and on... Continue Reading →
Italian oilfield contractor Saipem has appointed a new chief executive officer (CEO) following the resignation of Francesco Caio. The board of directors of Saipem, chaired by Silvia Merlo, on Wednesday acknowledged the resignation of the non-executive and non-independent board member Pier Francesco Ragni communicated on 19 August 2022. Ragni resigned “due to new upcoming professional commitments,” Saipem said. Pier Francesco... Continue Reading →
(Valor) After completing what it classifies as its third wave of growth, Companhia Brasileira de Offshore (CBO) will “hibernate” to absorb the acquisition of ten offshore support vessels before starting a new expansion cycle. With 44 vessels, the company is one of the largest in the country in offering this service to oil companies. At... Continue Reading →
Brazil Energy Insight 