(Bloomberg) -- Brazil’s state-controlled oil explorer is considering opening a Middle East unit as Latin America’s biggest crude producer prepares to join OPEC+’s cooperation charter. Petrobras will begin formal analysis later this month on establishing a subsidiary intended to strengthen commercial ties in the Persian Gulf region, Chief Executive Officer Jean Paul Prates wrote in... Continue Reading →
(Reuters) - Brazil has signed onto an agreement to triple renewable energy globally by 2030 and shift away from using coal, the country's Foreign Ministry said on Friday, joining a prospective deal backed by the European Union, U.S. and United Arab Emirates. South America's largest country is now one of roughly 100 countries that have signed onto... Continue Reading →
(Reuters) Shell on Thursday reported third-quarter earnings of $6.2 billion, in line with expectations, on higher refining margins and strong liquefied natural gas (LNG) trading. The company announced share buybacks of $3.5 billion over the next three months, up from $2.7 billion in the previous three months. It maintained its dividend unchanged at $0.331 per... Continue Reading →
Fugro’s revenue for the third quarter of 2023 is €608.9 million, an increase from €480.2 million reported in the same quarter of 2022 – a result said to be due to better contracting conditions, high activity levels and good project execution. Fugro reported that its revenue was up by 32.6% on a currency-comparable basis, by... Continue Reading →
(Reuters) Abu Dhabi's Masdar is set to buy a 49% stake in Spanish utility Iberdrola's largest offshore wind project off Scotland's coast, known as East Anglia 3, Spanish newspaper Cinco Dias reported on Tuesday, citing unidentified market sources. The acquisition will be worth around 2 billion euros ($2.14 billion), the report added, as the entire... Continue Reading →
(Reuters) - SLB (SLB.N) is on track to add about $5 billion in revenue this year, and sees similar potential for growth in 2024, mainly helped by increased drilling in international markets, CEO Olivier Le Peuch said at a conference on Wednesday. SLB, the world's largest oilfield service company and former Schlumberger, is betting on a recent... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA) remains eager to repurchase a refinery from Abu Dhabi state investor Mubadala despite antitrust barriers, and a new biofuels partnership could open the door to future talks, two sources told Reuters. Petrobras on Monday announced a memorandum of understanding with Mubadala for potential investment in a biofuel refinery under development in... Continue Reading →
(Reuters) Spanish utility Iberdrola has sold a 49% stake in its 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea to Abu Dhabi's Masdar for about 375 million euros ($414.5 million), it said on Wednesday. Iberdrola said that the deal pegged the total value of the so-called Baltic Eagle project, which... Continue Reading →
(Reuters) The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America. Baker Hughes, Halliburton, and SLB are set to post a combined second-quarter adjusted profit of $2.04 billion, according to Refinitiv data,... Continue Reading →
(Reuters) - Chinese oil refineries, led by heavyweight Sinopec (600028.SS), are set to boost Brazilian crude imports in the third quarter to replace some of the Saudi Arabian supply it cut after the kingdom hiked prices, industry sources said. China, the world's top crude importer, has booked nearly 1 million barrels per day of Brazilian crude... Continue Reading →
