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(Reuters) - Shares in Italy's Saipem (SPMI.MI) fell as much as 40% on Tuesday after investors subscribed for only 70% of its 2 billion euro cash call, signalling limited confidence in the turnaround plan for the Italian energy services group. Saipem said on Monday it had raised around 1.395 billion euros ($1.4 billion) at the closing of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it signed, on 07/08/22, a credit line with sustainability commitments (Sustainability-Linked Loan - SLL) in the amount of US$ 1.25 billion and maturity in July 2027. The operation was signed with the banks Bank of China, MUFG and The Bank of Nova Scotia, with competitive costs in comparison... Continue Reading →
(Reuters) - Mexican President Andres Manuel Lopez Obrador formally opened a major new oil refinery on Friday, a signature project for the leftist leader who argues it will help the country cut a longstanding dependence on foreign gasoline and diesel supplies. The Olmeca refinery owned and operated by state-run oil company Pemex is billions of... Continue Reading →
(Reuters) - Siemens (SIEGn.DE) said the market environment would dictate when it sells further shares in Siemens Energy (ENR1n.DE), after warning late on Thursday that it was booking a writedown related to a slide in the value of Siemens Energy. "As we’ve emphasized in the past, we still clearly intend to reduce our stake in Siemens Energy. However,... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador hopes to be able to lift a declaration of force majeure over its Oriente crude exports by July 7, following an agreement between the government and indigenous leaders that put an end to over two weeks of protests, a company executive said on Thursday. A pact to end... Continue Reading →
Norwegian oil and gas company Aker BP has revealed that the acquisition of Lundin Energy’s oil and gas business, through a statutory merger, is expected to be completed today, which will create the largest listed E&P company focused exclusively on the Norwegian Continental Shelf (NCS). Back in December 2021, Aker BP agreed to acquire Lundin Energy’s oil... Continue Reading →
Following a hike in fuel prices, which ousted its previous Chief Executive Officer (CEO) from the office after less than two months in the role, Brazil’s state-owned giant Petrobras has appointed a new director, who will also take over the CEO role at the company. The appointment comes after Petrobras was instructed last month to replace its... Continue Reading →
(TN) The consultancy Grupo I Can completed the asset management assessment of Petrobras' Santos Basin Exploration and Production Business Unit (UN-BS). Since 2019, the UN-BS has started to implement asset management at the unit, which is located in the pre-salt layer, to understand the maturity level of the organization and, based on that, to develop... Continue Reading →
Petróleo Brasileiro S.A - Petrobras, informs that its Board of Directors, in a meeting held today, by majority vote, nominated Mr. Caio Mário Paes de Andrade as Petrobras' Director until the next General Shareholders' Meeting and elected him as the company's CEO, the latter to hold office until April 13, 2023. Below is an extract... Continue Reading →
(Reuters) - The incoming chief executive of Brazil's state-run oil company Petrobras (PETR4.SA) told a corporate committee he has not received any guidance from the government on changing the firm's fuel pricing policy, a document showed on Saturday. Caio Mario Paes de Andrade, a former economy ministry official appointed by President Jair Bolsonaro to run Petrobras, was... Continue Reading →
Brazil Energy Insight 