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(epbr) The temporary suspension of the sale of Petrobras assets, requested by the government, involves a list of deals in progress and about US$ 2 billion in contracts already signed and which are still waiting for an outcome. The president of Petrobras, Jean Paul Prates, said last week that he sees the request as an... Continue Reading →
3R Petroleum Óleo e Gas S.A. (“3R” or “Company”) (B3: RRRP3) hereby presents its results for the fourth quarter (“4Q22”) and year of 2022. Except as indicated otherwise, the financial and operational information herein described is presented on a consolidated basis, in Brazilian Reais (R$), and in accordance with International Financial Reporting Standards (IFRS). HIGHLIGHTS... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras announces that its CEO Jean Paul Prates, and Wael Sawan, Shell´s CEO, signed today a Memorandum of Understanding, during CERAWeek, in Houston, in order to encourage discussion and collaboration between the companies. The companies will work together on identifying potential upstream opportunities, sharing experience and best practices on reducing carbon... Continue Reading →
(Reuters) - Governments worldwide need to simplify rules around hydrogen supply to attract investment and scale it up to become competitive enough to substitute fossil fuel use in heavy industry, energy executives said this week. Hydrogen as a potential alternative to natural gas, coal or oil burned in heavy industry or shipping is seen as... Continue Reading →
(Reuters) The Biden administration needs until the end of this year to finalize a long-awaited five-year plan for offshore oil and gas development in federal waters, according to court documents filed this week. The U.S. has been without a congressionally-mandated five year schedule of offshore oil and gas auctions since the previous one expired in... Continue Reading →
(Reuters) Hess Corp indicated the consortium that controls Guyana's oil production, of which it is a member, is prepared to relinquish 20% of the Stabroek oil block, but not any areas where it now produces or intends to produce oil in the future. An Exxon Mobil-led consortium controls the 6.6 million acres (26,800 sq km)... Continue Reading →
Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of February. Key: (1) The data of Albacora Leste in January refers to 90% of PRIO’s participation in the field, considering the production throughout the month. Since the acquisition's closing... Continue Reading →
(Reuters) - Mexico's heavily-indebted state oil company Pemex will seek to avoid pricy capital markets even as it faces billions in maturing debts this year and next, its chief executive told Reuters, saying Pemex had been "punished" by ratings agencies despite measurable improvements in its operational numbers. With its financial debt totaling nearly $108 billion... Continue Reading →
(OM) The latest analysis from McKinsey & Co. reveals that oil and gas industry costs could increase between 6% and 10% in 2023 due to labor uncertainties and raw materials inflation. The analysis finds that primary operation tasks, such as regular inspections and maintenance, are becoming more expensive as labor rates grow upwards of 9% per... Continue Reading →
(Reuters) West-Africa focused Tullow Oil reported a 2022 free-cash flow of $267 million on Wednesday, up from $245 million the previous year and in line with forecasts, supported by increased equity in its Ghana operations and higher oil prices. It plans to invest $400 million this year, mainly on its flagship fields in Ghana, expecting free cash flow to... Continue Reading →
Brazil Energy Insight 