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(Reuters) BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail. The result will ease pressure on CEO Murray Auchincloss after BP fell short of profit expectations in the previous two quarters.... Continue Reading →
(OE) Brazilian oil and gas company Enauta has resumed production from the floating production, storage, and offloading (FPSO) vessel operating at Atlanta field, offshore Brazil. Atlanta Field’s production resumed on July 26, and the maintenance period of FPSO Petrojarl I concluded with the option to operate the platform through fourth quarter of 2024. The platform... Continue Reading →
(OE) Strohm has won a contract from TotalEnergies for the supply of thermoplastic composite pipeline (TCP) flowlines for an offshore field located in the Santos Basin, marking the largest commercial award for pipe supply in company’s 16-year history and a first project in the Brazilian pre-salt. Due for installation in 2026 at a water depth... Continue Reading →
(Reuters) - Mexico's state-owned oil company Pemex swung to a 256 billion peso ($14 billion) second-quarter net loss on Friday, red ink the energy giant chalked up to lower sales, a higher cost of sales and large currency exchange losses. The quarterly loss compared to a net profit of more than $25.4 billion in the... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia's huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos told Reuters on Friday. If accepted, the bid would make Petrobras the operator of the Mopane oil and gas field, which has an... Continue Reading →
(OE) Offshore drilling contractor Borr Drilling has secured contracts for three of its premium jack-up drilling rigs, which will be put to work in Brazil, Malaysia and Gabon. These contract and extensions for Borr Drilling’s Arabia I, Gunnlod and Norve jack-ups cover a total of 1,779 days and $332 million in contract revenue, including mobilization... Continue Reading →
(Reuters) - After reporting a smaller than expected drop in second-quarter net profit, Italian energy group Eni promised to accelerate its share buyback and hinted at the possibility of nudging it up in the coming months. A stronger than anticipated performance at the group's upstream and Gas & LNG divisions supported results, while actions to streamline... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA), opens new tab is wrapping up due diligence for a bid on the Mataripe refinery it sold to Abu Dhabi sovereign fund Mubadala for $1.65 billion in 2021, three people familiar with the matter told Reuters. President Luiz Inacio Lula da Silva campaigned against the sale of Petrobras refineries and has pushed for... Continue Reading →
( Offshore-energy.biz) The Norwegian state-owned energy giant Equinor has managed to maintain a stable net profit in the second quarter of 2024, registering a drop quarter on quarter but a slight increase compared to the same period last year, while the firm continued working on field developments and supplied hydrocarbons to Europe to increase the... Continue Reading →
(Reuters) Venezuela on Wednesday granted a 20-year license to British energy producer BP and state-owned National Gas Company of Trinidad and Tobago (NGC) to develop the Venezuelan side of a natural gas field that extends into the Caribbean country's waters. Venezuela, whose gas reserves are mostly untapped, has in recent years expanded offers for offshore... Continue Reading →
Brazil Energy Insight 