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Brazil's Petrobras took a 65.3 billion real ($11.2 billion) impairment on its exploration and production assets on Thursday, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent. The impairment led Petroleo Brasileiro SA, as the firm is formally known, to book a first-quarter net loss of 48.5 billion... Continue Reading →
We are making ad hoc adjustments now, without losing sight of our long-term goals. The current scenario, of a sharp drop in Brent prices and a decline in demand for fuels, is causing the biggest crisis in the oil industry in the last 100 years. Due to the crisis, we are making timely adjustments to... Continue Reading →
Petrobras released their 1st quarter, 2020 Financial Results. Please read full report here: PBR 1Q2020 Performance
MESSAGE FROM THE CEO We express our solidarity with the victims of the global pandemic, at the same time as we are deeply grateful to the health professionals who have been standing out as true heroes in the war against the COVID-19 disease. The global pandemic threatens our lives and our livelihood. The main public... Continue Reading →
The enormous potential that offshore wind energy may be able to offer has been making headlines around the world. In late 2019 the Norwegian energy giant Equinor confirmed that its massive investment in the 88 MW Hywind Tampen Offshore Floating Wind (OFW) farm was going ahead. A few days later the International Energy Agency, IEA,... Continue Reading →
Press Release Swedish floating windfarm developer Hexicon AB announced it has agreed to join forces with the leading South African wind developer Genesis Eco-Energy Developments in order to explore the development of offshore wind. The development programme will be driven via a joint venture company in South Africa that will be named GenesisHexicon (Pty) Ltd.... Continue Reading →
In Brazil, where the company's Safe Notos and Safe Eurus are on contracts with Petrobras, the Brazilian oil company in April asked Prosafe for a suspension of the contract for a period of up to 120 days "during which period all logistical services, fuel, and catering support will continue to be provided by Petrobras, and... Continue Reading →
SBM Offshore, one of the world's largest FPSO solutions providers, on Wednesday slightly reduced 2020 guidance due to uncertainty caused by the COVID-19 pandemic and the low oil price environment, but the CEO is optimistic the company will not just weather the storm, but come out stronger at the end. The company said it expected... Continue Reading →
May 14, 2020 UK based Premier Oil postponed the start of the drilling campaign in block CE-M-717, in the Ceará Basin, which was scheduled for July. In a note, the oil company announced the postponement of all activities in its exploration portfolio to reduce expenses, given the “current market conditions”. The company postponed all activities... Continue Reading →
May 13, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), regarding the sale of four termal power plants, which three are located in Camaçari-BA (UTEs Polo Camaçari) of fuel oil, and one is located in Canoas-RS (UTE Canoas), of biofuel (diesel or natural gas). The teasers, which... Continue Reading →
