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(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 →
Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on October 1, 2020, informs that it has received binding proposals for four refineries: Landulpho Alves (RLAM), in Bahia, Isaac Sabbá (REMAN), in Amazonas, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR), in Ceará, and Unidade de Industrialização do Xisto (SIX), in Paraná. Additionally,... Continue Reading →
Brazilian oil production decreased 1.2% in October compared to September, totaling 2.874 million barrels per day according to the accounts of the National Petroleum Agency (ANP). Compared to the same month last year, the drop was 3%. As for natural gas, production totaled 130 million cubic meters per day, an increase of 3.8% compared to... Continue Reading →
Oil major BP has begun drilling on the Platina field in Block 18 offshore Angola using Valaris’ DS-12 drillship. Angola’s National Oil, Gas, and Biofuels Agency (ANPG) said last week that BP started drilling at the Platina field, a project that has been waiting to start with execution for several years. The initial date for the start... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it will be part of B3 Corporate Sustainability Index (ISE) again. The company will integrate the main Brazilian index under the aspect of corporate sustainability in 2021, which did not occur since 2008. "The return to ISE is a recognition of our efforts and initiatives in the environmental, social... Continue Reading →
Petróleo Brasileiro SA - Petrobras informs that it received, on this date, a favorable partial decision in one of the arbitrations proceeding before the Market Arbitration Chamber (CAM) of B3, initiated by foreign investors who claim financial losses caused by the facts revealed at Lava Jato. This decision promoted the definitive exclusion of seventeen investors... Continue Reading →
