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Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors has approved, by majority vote, the submission of a proposal to revise its Bylaws to the Extraordinary General Meeting (EGM), to be convened in due course. The objectives of the revision of Petrobras' Bylaws are to create a capital remuneration reserve; to make explicit... Continue Reading →
(Reuters) Chevron said on Monday it agreed to buy Hess HES.N for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. The proposed deal raises the competition between Chevron, the No. 2 U.S. oil and gas producer behind Exxon,... Continue Reading →
(Reuters) The largest oilfield service firm, SLB, is planning a quick return to Venezuela's oilfields following the broad relaxation of U.S. sanctions on the country's oil industry, its chief executive said on Friday. The U.S. on Wednesday lifted most restrictions on Venezuela's oil industry for six months to produce, sell and export oil. The move temporarily... Continue Reading →
(OE) Following the installation of the first wind turbine at the U.S. first commercial-sized offshore wind farm project, Vineyard Wind 1, earlier this week, Dutch offshore technology company Barge Master shared how it contributed to the project. Barge Master said: "The successful first feeder operation was accomplished in partnership with FOSS Offshore Wind, Seaqualize, GE, and... Continue Reading →
(OW) The US Bureau of Ocean Energy Management (BOEM) has identified a draft Wind Energy Area (WEA) offshore the Gulf of Maine holding an estimated 40 GW of capacity which will be put up for a lease sale in 2024. The Draft WEA covers approximately 3,519,067 acres offshore Maine, Massachusetts, and New Hampshire, ranging from approximately... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA) said on Thursday it will cut the prices of gasoline sold to distributors and raise those for diesel starting on Oct. 21. Gasoline prices will be reduced by an average of 0.12 reais ($0.024) per liter, while diesel will see an increase of 0.25 reais per liter, Petrobras said... Continue Reading →
(Reuters) - SLB (SLB.N) edged past estimates for quarterly profit on Friday as strength in the overseas drilling market to meet the insatiable global appetite for oil drove demand for its oilfield equipment, offsetting weakness in North America. Oilfield services firms have been kept busy as oil and gas companies reinvest their windfall profit, reaped when Russia... Continue Reading →
Wendy Laursen, Contributing Writer (OE) Energy ecosystems are evolving as the value of offshore power-to-X production is being realized Flexible and delivered in long lengths on reels in a fast-track operation, thermoplastic composite pipeline can transfer up to nine times the amount of energy as a cable and can be used to store hydrogen, increasing the... Continue Reading →
French company TotalEnergies made its second hydrocarbon discovery in block C-M-541, located in the pre-salt of the Santos Basin. The oil company informed the National Petroleum Agency (ANP) that it found signs of natural gas in well 1-TOT-3-RJS, in a water depth of 3,022 meters. To remember, TotalEnergies had already found oil and gas in... Continue Reading →
(OE) Deepwater drilling contractor Transocean shared Thursday its quarterly offshore rig fleet status report, in which it said it had secured $745 million worth of drilling contracts. During the period, the company secured contracts for three drillships: Dhirubhai Deepwater KG1, Deepwater Aquila, and Deepwater Invictus. First, the Dhirubhai Deepwater KG1 drillship was awarded a 60-day extension in... Continue Reading →
Brazil Energy Insight 