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(OE) Italian energy services group Saipem has agreed to sell its onshore drilling business to Britain's KCA Deutag (KCAD) for $550 million, as it strives to bolster its finances after a profit warning and focuses on offshore drilling. Asset sales and a 2 billion euros ($2 billion) new share issue are part of Saipem's efforts... Continue Reading →
(Reuters) Brazilian President Jair Bolsonaro, seething about fuel prices as his poll standings slip ahead of October's presidential election, has intensified his calls to shake up the board and management of state-run oil company Petrobras. But it will take at least 45 to 60 days to complete the necessary procedural and bureaucratic steps to install... Continue Reading →
Tenaris, a company manufacturing pipes and related services for the global energy industry, has informed that an Italian court has dismissed a case against Tenaris’s Chairman and Chief Executive Officer and two other Board members over allegedly improper payments in Brazil. Tenaris said it had been advised that the Milan court of first instance overseeing... Continue Reading →
Italian energy services company Saipem, Norwegian subsea services firm Havfram, and HVAS Invest Kappa AS (a company controlled by HitecVision) have signed a non-binding agreement to evaluate a potential collaboration in the development and construction of offshore wind farms. "The parties share the common objective to create a wider value proposition by integrating a range... Continue Reading →
(OE) Oil and gas company Trident Energy said Thursday it had completed its first Brazilian subsea campaign to connect the MA-34 production well to the P-08 semi-sub platform, as part of its plans to enhance production on its Pampo field. "Trident Energy set to relocate two existing flowlines from our old MA-1 X-tree (one production... Continue Reading →
(Reuters) - Shareholders of Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) on Wednesday voted in favor of the energy transition strategies proposed by the two largest U.S. oil producers, following similar support of European oil firms' climate plans. Major oil producers this year flipped the script and won over investors with recent steps to minimize carbon emissions and... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 05/23/2022, regarding the Ministry of Mines and Energy's Official Letter requesting the convening of an Extraordinary General Meeting (EGM) to promote the substitution and election of a member of the Board of Directors and the nomination of Mr. Caio Mario Paes de Andrade,... Continue Reading →
(Reuters) Offshore oil and gas producer Talos Energy on Tuesday said it was interested in scooping up new production, particularly as major oil companies shed assets in a bid to decarbonize. "We're a natural consolidator, particularly when you think about the Gulf of Mexico," Chief Executive Officer Tim Duncan said on Tuesday during an analyst... Continue Reading →
(Reuters) - Shares of Brazil's state-run oil company Petrobras plunged on Tuesday after the government oustedits chief executive for the second time in two months and signaled plans to alter the company's market-based fuel pricing policy. President Jair Bolsonaro has railed against a series of fuel price increases by Petrobras, formally known as Petroleo Brasileiro... Continue Reading →
EDF Renewables has carried out what is believed to be the first autonomous wind farm foundation inspection by deploying a customized remotely operated vehicle (ROV) at the Blyth offshore wind farm in the UK. Equipped and operated from the Offshore Robotics for Certification of Assets (ORCA) Hub, the ROV carried out visual inspections of the... Continue Reading →
Brazil Energy Insight 