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(Reuters) - Brazilian President Jair Bolsonaro has tapped a well-known academic and energy consultant as the next head of state-run oil company Petrobras, effectively ending the tenure of current CEO Joaquim Silva e Luna less than a year after he was appointed. In a statement on Monday, Brazil's Mines and Energy Ministry announced the slate... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro has moved to replace the chief executive of state-run oil company Petrobras (PETR4.SA), three sources with knowledge of the matter said on Monday, amid renewed tension over the company's fuel pricing policy. A list of board members that Bolsonaro's government drafted for shareholder approval at an April meeting did not... Continue Reading →
(PN) Constellation reported this week that an amendment to its Judicial Recovery Plan was unanimously approved by its creditors. In a statement, the company stated that the payment conditions and restructuring measures indicated will only come into force after a Confirmation Order issued by the 1st Business Court of Rio de Janeiro, which should happen... Continue Reading →
(OE) Offshore drilling contractor Diamond Offshore has received approval to relist its unrestricted common stock on the New York Stock Exchange (NYSE) under the ticker symbol "DO." "The company expects the common stock to commence trading on or about Wednesday, March 30, 2022," Diamond Offshore said. Bernie Wolford, Jr., President, and Chief Executive Officer, stated,... Continue Reading →
(OE) Offshore drilling contractor Seadrill Limited has appointed Simon Johnson, former CEO of Borr Drilling, as its new President and Chief Executive Officer. Johnson will replace Stuart Jackson as President and Chief Executive Officer with immediate effect. Jackson has been the CEO since October 2020, having taken over from Anton Dibowitz. Commenting on the latest CEO... Continue Reading →
(Reuters) - Saipem (SPMI.MI) will launch a 2 billion euro ($2.2 billion) capital increase this year and sell assets to help fund a turnaround plan to bring the troubled Italian energy services group back into the black. The company stunned investors in January when it downgraded earnings by a billion euros due to a significant deterioration of... Continue Reading →
(Reuters) The Swiss trading arm of Russian energy giant Lukoil (LKOH.MM) has scaled back operations after the oil company cut its supply of capital to guarantee nearly $1 billion in margin calls in the wake of Western sanctions, according to three people familiar with the matter. Litasco, which was handling more than 3.6 million barrels per day,... Continue Reading →
Subsea 7 ended 2021 with excellent operational and financial performance. Revenue reached US$ 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 →
Brazil Energy Insight 