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(Reuters) - Mexican state oil company Pemex posted a 190.5 billion-peso ($9.1 billion) fourth-quarter net loss on Thursday, following a year-ago profit, citing higher sales costs, lower fixed asset values and currency exchange losses. The ailing giant's production continued to decline during the three-month period, and financial debt remained close to the $100 billion level... Continue Reading →
Australian oil company Karoon announced that it has signed a Sale and Purchase Agreement (SPA) with Altera & Ocyan to acquire 100% of FPSO Cidade de Itajaí for $115 million, plus approximately $8 million in transaction costs. The unit operates in the Baúna field, which is fully operated by Karoon. The agreement is subject to... Continue Reading →
(Reuters) - Companies from around the world have proposed to develop 69 offshore areas in Colombia's first offshore wind energy auction, the South American country's National Hydrocarbons Agency (ANH) said on Thursday. WHY IT'S IMPORTANT The auction is a significant step toward President Gustavo Petro's goal of diversifying the energy sector and reducing dependency on oil and... Continue Reading →
(Reuters) - The chief of Europe's largest utility, Iberdrola, said it will not begin any renewables projects in the United States this year, as part of a broader strategy shift unrelated to possible U.S. tariffs that should not impact the company. Executive Chairman Ignacio Galan said on Thursday the company has already secured agreements for its renewable... Continue Reading →
(Reuters) - Italian energy group Eni reported a 46% slide in fourth-quarter adjusted net profit on Thursday, hit by lower energy prices and weakness at its refining, biofuel and chemicals divisions. Adjusted net profit for October and December totalled 892 million euros ($934 million), below an analyst consensus of 960 million euros compiled by the company... Continue Reading →
(Reuters) U.S. President Donald Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns. In a post on Truth Social, Trump said he was "reversing... Continue Reading →
(Reuters) - German wind turbine maker Nordex expects continued growth in its U.S. market despite changes to the renewables landscape in the short term, its CEO said after better than expected core earnings. U.S. President Donald Trump suspended offshore leasing for wind power on his first day in office in January, hitting share prices of European players including... Continue Reading →
(OE) MODEC has entered into a Front End Engineering and Design (FEED) contract with Samsung E&A for the installation of carbon capture technology on a floating, production, storage and offloading (FPSO) vessel. The offshore carbon capture project envisages the installation of a carbon capture module on a MODEC FPSO vessel as a pilot, and it will... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors (CA), in a meeting held today, authorized the submission to the Annual General Meeting (AGM), scheduled for April 16, 2025, of the proposal for the distribution of dividends equivalent to R$ 9.1 billion. If approved by the AGM, considering the amounts advanced by the... Continue Reading →
Rio de Janeiro, February 26, 2025 “2024 was a positive year for Petrobras. We consistently maintained strong cash generation, reaching US$ 38 billion in Operating Cash Flow in 2024. This result demonstrates the company's financial health and the quality of its assets, which operate profitably, generating resources to make investments, remunerate shareholders and meet all... Continue Reading →
Brazil Energy Insight 