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MESSAGE FROM THE CEO Dear Shareholders,I am very happy to present the report on Petrobras financial performance in 2020, a superb performance in a very challenging environment. Amidst a severe global recession and the effects of a major global shock to the oil industry, we promised to engineer a J-shaped recovery. The goal was to... Continue Reading →
Italian oilfield services company Saipem has developed a new tool for the estimation of the carbon footprint of its offshore projects. Saipem said on Wednesday it has won the Environmental Sustainability Award in International Marine Contractors Association’s (IMCA) 2020 Awards programme, for an innovative CO2 estimation tool in its offshore projects. The tool is named SOCE (Saipem... Continue Reading →
Helix Energy Solutions has seen its fourth-quarter 2020 profit almost cut in half on lower well intervention activity, slightly offset by its robotics unit. The Houston-based company reported net income of $4.2 million, or $0.03 per diluted share, for the fourth quarter 2020 compared to $8.1 million, or $0.05 per diluted share, for the fourth... Continue Reading →
Italian energy group Eni on Friday raised its ambition to cut greenhouse gas emissions, vowing to become net carbon neutral by 2050, as it seeks to keep up pace in an industry under pressure from investors to go green. Like its peers, Eni is stepping up plans to transition to cleaner fuels as governments around... Continue Reading →
Employment in the oil and gas sector, despite some expected uptick, will never return to its heydays of a few years ago, but offshore wind, however, will be "the new hiring haven for energy jobs," especially in the turbine making segment, Norwegian energy intelligence firm Rystad Energy said Friday. The firm sees hundreds of thousands... Continue Reading →
The downturn brought by the Covid-19 pandemic and the accelerating energy transition has created a new reality for the world’s oil and gas industry, whose production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows. The five integrated supermajors – ExxonMobil, BP, Shell, Chevron, and Total –... Continue Reading →
Italian energy group Eni beat expectations by swinging into a profit in the fourth quarter thanks to firmer oil prices, after posting a loss for the full-year 2020 when demand plunged because of the coronavirus crisis. Eni said it recorded an adjusted net profit in the fourth quarter of 0.66 billion euros ($798 million), beating... Continue Reading →
Italy's Saipem and renewable energy companies AGNES and Qint’x have applied for permits to develop one of the world's biggest offshore clean energy hubs, to generate wind and solar power and produce green hydrogen, Saipem said on Thursday. The companies have agreed to build 620 megawatts of wind and solar capacity off the coast of... Continue Reading →
(Reuters) - Oil major BP is launching its first share award scheme to rally its more than 60,000 employees around CEO Bernard Looney’s plan to shift to renewable energy following a bruising year of mass layoffs, bonus suspensions and spending cuts. The distribution of the shares, which will be locked for four years, will take... Continue Reading →
BW Offshore, a company mainly known as the operator of FPSO vessels in the oil and gas industry, is creating what it calls "a floating offshore wind champion targeting large-scale projects," following an agreement signed Wednesday to buy into the floating offshore wind tech developer Ideol. BW Offshore last week said it was in discussions with France-based... Continue Reading →
Brazil Energy Insight 