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Subsea 7 ended 2021 with excellent operational and financial performance. Revenue reached US$ 5 billion, representing growth of 45% compared to the previous year. The company's EBITDA reached US$ 521 million, an increase of 55% compared to 2020. Net income for the year was US$ 36 million. The global order backlog hit the $7.2 billion... Continue Reading →
ffshore drilling companies Noble Corporation and Maersk Drilling, which are set to merge, on Friday announced executive management team for the combined company. The executive management team appointments will be effective after the closing of the business combination announced on November 10, 2021. "The combined company will have a proven management team led by Robert... Continue Reading →
Petrobras started the licensing process for the Auri robot, Autonomous Underwater Riser Inspection, a technology patented and developed by Petrobras in partnership with PUC-Rio. Equipped with high resolution cameras and remotely operated, the AURI is able to identify, with high precision, maintenance needs in the flexible pipelines that transport oil from subsea facilities to production... Continue Reading →
Stolthaven Santos and the Pecém Industrial and Port Complex, a joint venture formed by the government of Ceará and the Port of Rotterdam, in the Netherlands, announced the signing of a memorandum of understanding (MoU) for the study of a new storage terminal in Porto do Pecém, Brazil. The terminal will focus on providing storage... Continue Reading →
There is a possibility of replacing Petrobras' chief executive, Brazil's President Jair Bolsonaro said on Wednesday, adding further pressure to the state-run oil company's pricing policy. In an interview with regional TV channel, Bolsonaro said the possibility of replacing Joaquim Silva e Luna as Petrobras CEO exists, although he added "everyone in the government can... Continue Reading →
PetroRio inaugurated a new power generation system at FPSO Bravo, which is installed in the Polvo and Tubarão Martelo fields, in the Campos Basin. The production of electricity at the unit will be made with natural gas produced at the complex, replacing diesel. The novelty promises to bring environmental gains, with reductions in the burning... Continue Reading →
(Reuters) - State-run Brazilian oil company Petrobras said on Tuesday the sale process for the control of a natural gas pipeline that connects Bolivia and southern Brazil is in a binding phase. EIG Global Energy Partners presented a binding proposal, which must be considered by Petrobras' management, and in case of approval will start the... Continue Reading →
(Reuters) - Petrobras Chief Executive Joaquim Silva e Luna said on Monday he will not leave the Brazilian state-run oil company despite facing criticism from President Jair Bolsonaro and others over a fuel price hike announced last week. Luna, a retired army general, compared Petroleo Brasileiro SA's effort to raise prices to a "battle." Luna... Continue Reading →
(Reuters) - A Nigerian court has stopped Shell Plc (SHEL.L) from selling any assets in Nigeria until a decision is reached on the company's appeal of a nearly $2 billion penalty for an alleged oil spill. A copy of the court ruling, which was seen by Reuters on Monday, was issued on March 11 and also ordered... Continue Reading →
(Offshore Energy) Oil and gas giants BP and Eni have signed an agreement to form a new 50/50 independent company in Angola through the combination of the two companies’ Angolan businesses. The new company will be named Azule Energy and it is expected to be Angola’s largest producer. The agreement follows the memorandum of understanding between the... Continue Reading →
Brazil Energy Insight 