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Offshore drilling contractor Borr Drilling is optimistic and encouraged by signs of shallow water rig market recovery amid strong tendering and contracting activity, clearly visible in the rig owner’s latest contract wins and extensions. The company and its Drilling JVs have been awarded 17 new contracts, extensions, exercised options, and LOAs/ LOIs from the start... Continue Reading →
Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic. Petronas said on Monday it made a post-tax profit of 9.3 billion ringgit ($2.25 billion) in January-March, against 4.5 billion ringgit in the same quarter... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, informs that its wholly-owned subsidiary Petrobras Bolivia S.A. (PEB) was condemned in the first instance to pay compensation for the use of property where the San Alberto field facilities are located in the amount of US$ 61.1 million, plus interest and... Continue Reading →
(TNPetroleo) Equinor Brasil Energia signed a contract for drilling in the Bacalhau field with Seadrill Management, subject to the final investment decision. The duration of the contract is four years, with start-up scheduled for the first quarter of 2022. The goal is to drill six wells until production begins in 2024. The contract also includes... Continue Reading →
Rating agency Moody's said on Friday that the credit risk of major oil producers has increased with recent events including Royal Dutch Shell losing a Dutch climate lawsuit this week and Exxon losing a battle with shareholders. Chevron also lost a vote to shareholders demanding it cut emissions further. "These actions represent a substantial shift in the landscape for oil companies, which... Continue Reading →
(WO) At the Ordinary and Extraordinary Shareholders’ Meeting, shareholders approved, almost unanimously, the resolution to change the company’s name from Total to TotalEnergies, thereby anchoring its strategic transformation into a broad energy company in its identity. In tandem with this name change, TotalEnergies is adopting a new visual identity. “Energy is life. We all need... Continue Reading →
(Bloomberg) --Fresh from striking a hammer blow in the boardrooms of the world’s biggest oil companies, the climate movement has a clear message: the energy transition is happening and there’s no turning back. Just five years ago, environmental activists were limited to waving placards outside of annual meetings and to the odd shareholder proposal, inevitably... Continue Reading →
Following a significant contract win in Brazil, United Offshore Support GmbH (UOS) announced the expansion of its Americas business into Mexico. The Germany-based company recently secured a contract with ENI Mexico, part of Eni S.p.A, to provide drilling support for the Valaris 8505 semisubmersible rig. The 2010-built UT786CD design anchor handler G.H. Atlantis will perform... Continue Reading →
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in accordance with the provisions of Instruction No. 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general that PetroRio Luxembourg S.à.r.l., incorporated under the laws of the Grand Duchy of Luxembourg (“PetroRio... Continue Reading →
(Reuters) Several Total (TOTF.PA) shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure. The International Energy Agency has warned that new fossil fuel projects must stop this year if the world... Continue Reading →
Brazil Energy Insight 