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(Reuters) - The world’s top energy companies have slashed the value of their oil and gas assets by around $80 billion (60.05 billion pounds) in recent months after revising lower the long-term outlook for fuel prices in the wake of the coronavirus epidemic and the energy transition. Exxon Mobil, the largest U.S. oil company, announced... Continue Reading →
(Reuters) - Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the... Continue Reading →
The floating wind industry, still in its infancy, is set for a 2000-fold increase in installed capacity by 2050, DNV GL said, however, warning that more comprehensive industry standards and risk management is required for the technology to scale. According to the report by risk management and quality assurance company, the cost of floating wind... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the Extraordinary General Meeting, held today, at 3:00 pm, exclusively under the digital format, analyzed and approved, by majority vote, the following: I. Amendments to Petrobras' By-Laws and consequent consolidation of the By-Laws, to amend Articles 17, 22, 23, 27, 30, 34 and 47 as proposed by Management.... Continue Reading →
Seadrill Partners LLC said on Tuesday it had filed for Chapter 11 bankruptcy protection as a means to restructure its debt, in another sign of financial difficulties for the wider Seadrill Ltd oil drilling rig group. "The company intends to use the bankruptcy process to ensure that all customer, vendor and employee obligations are met without interruption... Continue Reading →
(Reuters) - Brazilian federal prosecutors have filed a lawsuit seeking damages from oil trading company Trafigura and former executives on corruption allegations involving Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras), according to a statement on Monday. The prosecutors are also seeking a court order to freeze 1 billion reais ($187.55 million) of the defendants’... Continue Reading →
(Bloomberg) --Exxon Mobil is about to incur the biggest writedown in its modern history as what was once an exemplar of American capitalist might shudders under the weight of debilitated energy markets. Exxon -- already hobbled by cratering crude prices, a global supply glut and a pandemic-driven collapse in fuel sales -- on Monday disclosed... Continue Reading →
Petrobras detailed on Monday its new Business Plan for the period 2021 to 2025. In this plan, the company classifies the Campos Basin as a strategic area and will allocate a volume of US$ 13 billion to the region's fields. The amount, however, will be less in relation to the resources provided for in the... Continue Reading →
(Reuters) - Brazil’s Petrobras on Monday projected a surge in oil exports and divestments over the next five years as it steps up plans to target overseas demand and cut debt. In a virtual presentation to investors during the state-controlled company’s annual investor day, Petroleo Brasileiro SA, as it is formally known, said domestic oil... Continue Reading →
Norwegian marine seismic data acquisition company PGS has informed that its Ramform Titan vessel is about to continue the acquisition of the Campos Deepwater GeoStreamer X (Phase 2), a prefunded MultiClient 3D seismic survey with multi-azimuth coverage. In December 2020, PGS will resume operations, to acquire an additional 8 400 sq km. This survey provides... Continue Reading →
