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Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, regarding the divestment of the Urucu Cluster, clarifies that it has received binding proposals from 3R Petroleum Óleo e Gás S.A. (3R) and Eneva S.A. (Eneva). The proposals are being evaluated by the company, which will subsidize its decision about the... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on July 9, 2020, informs that it has concluded the negotiation phase with the Mubadala Group as part of the process for divesting the Landulpho Alves Refinery (RLAM), in Bahia. As provided by Petrobras' Divestment Methodology, the process is currently undergoing a new round... Continue Reading →
(Reuters) - Vitol Group’s U.S. subsidiary agreed to pay $135 million to resolve allegations by the U.S. government that the energy trader paid bribes in Brazil and other countries to boost its oil trading business, a prosecutor told a judge in Brooklyn on Thursday. The prosecutor said $45 million of the total payment would go... Continue Reading →
(Bloomberg) --OPEC+ reached an agreement to ease its oil-output cuts next year more gradually than previously planned, giving a fragile market more time to absorb the extra supply. The group will add 500,000 barrels a day of production to the market in January -- a quarter of what would have occurred under the prior plan... Continue Reading →
(Reuters) - Brazil’s Petrobras could expand its operations into neighboring Guyana, if the regulatory environment does not improve in Brazil, CEO Roberto Castello Branco said on Thursday, the first official admission of interest in the hot frontier oil play. Petroleo Brasileiro SA, as the company is formally known, has exploration interests off Brazil’s northern coast.... Continue Reading →
(Reuters) - Brazil’s economy grew in the third quarter by the most on record as the easing of anti-coronavirus lockdown measures triggered a strong rebound in activity across most sectors, especially industry and services, while fixed investment jumped sharply. The rebound from the worst of the pandemic prompted a 7.7% increase in gross domestic product... Continue Reading →
(Reuters) - U.S. oil major Chevron Corp on Thursday cut billions off its long-term capital and exploratory budget after a major restructuring of its operations in a bid to ride out a collapse in oil prices and preserve its dividend. Reeling from a sharp decline in oil demand and revenue due to the COVID-19 pandemic,... Continue Reading →
Angola’s state oil giant Sonangol will next year accelerate reforms and efforts to raise revenue after the pandemic drained investor interest in an asset sale that has so far netted only around $60 million, its CEO told Reuters in a rare interview. Sonangol is the economic engine for Africa’s number two oil exporter, as the... Continue Reading →
Wave energy converter developer Bombora and energy services giant TechnipFMC have teamed up to work on a floating offshore wind project, which pairs ocean wave energy with offshore wind. Bombora said Wednesday that under the cooperation in the project - called InSPIRE - the two companies will develop a floating offshore wind foundation incorporating Bombora’s... Continue Reading →
Old offshore oil wells could be turned into geothermal energy producers under a plan by a new consortium. The group, The Aquarius North Sea Geothermal Consortium, is “actively” working with North Sea operators to see if old wells could be used to generate geothermal energy for existing platforms. But a future goal is greenfield geothermal... Continue Reading →
