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(InfoMoney) Neoenergia (NEOE3) reported an increase in net profit for the second quarter of 2024, recording R$815 million, a growth of 12% compared to the same period of the previous year. The company attributes this result to cost control and optimization of operations. The company's adjusted Ebitda (Earnings before interest, taxes, depreciation and amortization) also... Continue Reading →
(Raphaël Poquet, Trelleborg Oil & Marine product manager) With a surge in the need for energy to meet global demand, the order book for Floating Production Storage and Offloading (FPSO) vessels is climbing. This trend can be seen in the global expansion of new, often remote, and challenging regions. As a result, the need for... Continue Reading →
(OE) Oilfield services firm Archer has been awarded a two-year contract for platform drilling services for Equinor in Brazil. The contract will commence in November 2024 in direct continuation of Archer’s current contract for drilling operations and maintenance on Equinor’s Peregrino A & B platforms and includes an optional two-year extension period. The estimated firm... Continue Reading →
(TN) CBO signed a contract with Equinor Brasil to operate the PSV Delta Cardinal, in partnership with Delta Logistics Limited, owner of the vessel, which has extensive experience in maritime support in the Caribbean and South America region. The operation begins in July and foresees a duration of one year. The vessel joins the Company's... Continue Reading →
Equinor, on behalf of its partners in the Raia project – Repsol Sinopec Brasil and Petrobras, awarded Valaris, represented by Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, a drilling contract for operations in Brazil. Drilling activities are scheduled to begin in 2026. The objective is to drill six wells, with... Continue Reading →
(Reuters) Portugal's Galp Energia on Monday reported its second quarter adjusted net profit jumped 16% and beat expectations as higher oil price and lower cost of production offset lower production and stable refining margin. It booked an adjusted net profit of 299 million euros ($325.34 million), more than the 236 million euros expected by 18... Continue Reading →
(Reuters) - Colombia's majority state-owned energy company Ecopetrol said on Friday that it is in talks with U.S. oil major Occidental Petroleum to possibly buy a stake in CrownRock. Ecopetrol, in a statement, did not include additional details and added that a final decision on the size of the stake and the amount it could pay were... Continue Reading →
(Reuters) - Bolivian state oil firm YPFB will spend around $400 million to drill gas wells and build facilities at a recently discovered natural gas "mega" field, the company said on Thursday. Production at the Mayaya field, estimated to hold 1.7 trillion cubic feet (TCF) of natural gas, should kick off in three to four years, YPFB... Continue Reading →
(OilNow.gy) ExxonMobil’s Hammerhead development will be a “stand alone” project, according to the summary submitted to Guyana’s Environmental Protection Agency (EPA). Potentially, additional resources can be tapped, if determined to be feasible and economically viable, the document read. The proposed project will be located in the south central portion of the Stabroek Block, 160 kilometers (km) from... Continue Reading →
(OE) QatarEnergy has signed an agreement with Chevron to acquire a 20% working interest in a production sharing contract for block 5 offshore Suriname. Pursuant to the signed agreement, Chevron as the operator will retain a 40% interest, while Paradise Oil Company, an affiliate of Suriname’s national oil company Staatsolie, will own the remaining 40%.... Continue Reading →
Brazil Energy Insight 