Danish energy group Ørsted beat third-quarter profit expectations on Wednesday but said offshore wind projects in the United States faced “significant” delays. The world’s largest offshore wind farm developer kept its full-year guidance for earnings before interest, tax, depreciation, and amortization (EBITDA) of 16-17 billion Danish crowns ($2.5-$2.7 billion). “Despite the tenacious COVID-19 pandemic, our... Continue Reading →

(Reuters) - Oil company Enauta has 2 billion reais available to restore its portfolio and acquire new fields, said the company's chief executive, Décio Oddone, who took office in September. The company, which over the past year has sold the Manati and Carcará fields, is open to opportunities in shallow water and onshore areas, apart... Continue Reading →

Top oilfield services provider Schlumberger NV on Friday posted its third straight quarterly loss as this year's prolonged slump in oil prices due to the COVID-19 pandemic compelled its major energy customers to shun drilling. The company kicked off earnings from hard-hit U.S. oilfield service providers and come as the reintroduction of lockdowns in some... Continue Reading →

Top global oil traders Vitol, Trafigura and Gunvor said on Thursday they saw slow oil demand recovery because of a second coronavirus wave with oil prices rising to or above $50 per barrel only by October next year. Benchmark Brent crude futures traded down 1.6% to $42.62 a barrel at 0905 GMT on Thursday as... Continue Reading →

Marine services company C-Innovation (C-I) has ordered a package of Sonardyne’s underwater positioning and navigation systems to support its operations offshore Brazil. Remotely operated vehicles (ROVs) on board six ROV support vessels (RSVs) in the country will be equipped with Sonardyne inertial, gyrocompass and Doppler technologies, as well as hybrid acoustic-inertial systems. C-I has ordered... Continue Reading →

Offshore Floating Wind is a sizeable global opportunity ramping-up for commercialization across six to ten distinct markets. Floating Wind Solutions 2021 announces our Advisory Board of experts in all fields involved in Floating Wind and related Supply Chains. The primary role of the FWS Advisory Board is to offer their insight and expertise to create... Continue Reading →

Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on February 4, 2020, informs that its indirect controlled company, Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), signed today with DISA Corporación Petrolífera S.A. (Disa), a contract for the sale of its entire stake in Petrobras Uruguay Distribuición S.A. (PUDSA), in Uruguay. The value... Continue Reading →

Creditors of North Sea-focused Premier Oil have extended a waiver for the group's debt covenant test until Nov. 5, giving it breathing space to avoid a debt crunch, the company said on Thursday. Premier needs to convince at least 75% of its creditors that the best solution is for the company to extend debt maturities... Continue Reading →

Sept 16, 2020 The world’s biggest independent oil trader says global stockpiles of the commodity will keep shrinking, offering a starkly more bullish view of the crude market than some of its rivals. Vitol Group said inventories have been falling sharply and will continue to decline this year. Trafigura Group, the second-biggest trader, says the... Continue Reading →