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Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA) on Thursday posted a loss of 2.7 billion reais ($524 million) in the second quarter, hurt by tumbling oil prices despite record export volumes to China. The result, down from a record quarterly profit of 18.9 billion reais a year ago, came as the company pursued an... Continue Reading →
Dear Shareholders, I am glad to be able to tell you that we are running the ship safely through uncharted waters. We are very proud of our team whose talent and professional dedication allowed us to overcome, so far, the enormous challenges faced by our company. The outbreak of a major global health crisis caused... Continue Reading →
Jul 30, 2020 WEG obtained an important contract with Petrobras to supply eight turbogenerators for the FPSOs Buzios V and Mero 2. With the new arrangement, WEG expects to generate revenue of approximately R $ 160 million. Of the total equipment, four of them will be 36 MW 3600 rpm and four of 33 MW... Continue Reading →
Jul 30, 2020 Chevron receives proposals today to purchase its stake in the Papa-Terra field, in the Campos Basin, in an operation conducted by Bank of America. The expectation is that medium-sized oil companies will compete for shares in Chevron and Petrobras in the Campos Basin asset. The bidding should involve up to four companies,... Continue Reading →
Tubular solutions supplier Vallourec has signed contract extensions with Petrobras for the supply of its products and services. Since 2019, Vallourec has been supplying Petrobras with OCTG products, including seamless steel tubes, connections, and accessories, as well as associated services such as offshore inspection, repair, and supervision. The contracts have now been extended until 2023.... Continue Reading →
South Korean shipbuilder Samsung Heavy Industries (SHI) has delivered Eagle Paulinia to AET Tankers, a petroleum logistics unit of Malaysian energy logistics group MISC Berhad. The dynamic positioning (DP2) shuttle tanker is part of a series of four vessels, purpose-built for long-term charter to Brazilian oil and gas major Petrobras. Continue reading
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/21/2020, informs that the best estimate of the amounts to be recovered for the period from October 2001 to June 2020, considering the current calculation assumptions and the documental surveys, is R$ 16.9 billion, before the tax effects, which will... Continue Reading →
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors approved, in a meeting held today, an agreement with Fundação Petrobras de Seguridade Social (Petros), which aims to end the arbitral dispute proposed by Petros in order to obtain compensation from Petrobras for alleged material damages related to the investment in... Continue Reading →
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras informs that it is already producing at all of its refineries and selling to distributors gasoline with RON 93 octane rating, which will only be mandatory in Brazil in 2022, according to the new regulations of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) -... Continue Reading →
Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received significant orders for its Tube Turns® branded Ultra-High Pressure and Double Bolt closure product lines. Production will begin immediately and is expected to be completed prior to year end. Terms of the purchases were not disclosed. The... Continue Reading →
Brazil Energy Insight 