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Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, informs that an Arbitration Court of the B3 Market Arbitration Chamber issued a partial decision stating that the general civil liability regime applies to the shareholders' indemnity claim. This is a merely partial decision, which addresses a preliminary issue, but does... Continue Reading →
Subsea 7’s revenue for the first half of 2023 was $2.8 billion, a $323 million or 13 per cent increase compared to the first half of 2022, said to be due to significantly increased activity in the Subsea and Conventional business unit partly offset by lower revenue in the Renewables business unit. For 1H 2023,... Continue Reading →
(OE) The first phase of what will be the world's largest offshore wind farm - the Dogger Bank in the UK - is expected to start producing electricity "during summer." This is according to Equinor, a Norwegian energy giant that is a partner in the project. Other partners are SSE and Vårgrønn. "At the world’s... Continue Reading →
(Reuters) - Brazilian power company Eletrobras (ELET6.SA) expects to invest between 70 billion and 80 billion reais ($16.92 billion) over the next five years, the firm said on Monday, adding it was mulling over 15 potential mergers or acquisitions. Of the total amount, 17.1 billion reais has already been earmarked for electricity generation and transmission projects as... Continue Reading →
(Reuters) - Equinor (EQNR.OL) posted on Wednesday a 57% year-on-year decline in second quarter core profit, in line with expectations as oil and gas prices fell, while maintaining its dividend and share buyback levels, sending its shares slightly lower. The Norwegian energy group's adjusted earnings before interest and tax for April-June fell to $7.54 billion from $17.6... Continue Reading →
(Reuters) Spanish utility Iberdrola has sold a 49% stake in its 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea to Abu Dhabi's Masdar for about 375 million euros ($414.5 million), it said on Wednesday. Iberdrola said that the deal pegged the total value of the so-called Baltic Eagle project, which... Continue Reading →
(Reuters) - Oil and gas producer Hess Corp (HES.N) on Wednesday beat Wall Street estimates for second-quarter profit, buoyed by higher production and disclosed a new oil discovery in the Gulf of Mexico. Crude prices have slipped from the multi-year highs hit last year following Russia's invasion of Ukraine but remain strong enough to encourage oil and... Continue Reading →
The Búzios field, the largest in the world in ultra-deep waters, reached, in June, the accumulated production of 1 billion barrels of oil equivalent (boe), after just five years since the asset started operations. This result is due to the high productivity per well in Búzios, the evolution of knowledge accumulated in the pre-salt fields... Continue Reading →
(Reuters) - Argentina's last-ditch effort to secure International Monetary Fund cash with measures that will weaken the peso risks pushing triple-digit inflation even higher and angering voters just three months before national elections. Economists said steps unveiled on Monday by Economy Minister Sergio Massa, himself a presidential hopeful, were unlikely to dampen inflation that is already running... Continue Reading →
(OE) French steel pipemaker Vallourec said Monday it had won two major orders to supply line pipes for phases 6 and 8 of the Buzios oil field development operated by Petrobras. These orders are in addition to the contract previously won for phase 7, representing a total of 48,000 tons of line pipe. Located off... Continue Reading →
Brazil Energy Insight 