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(Bloomberg) -- The new fuel policy implemented by state-run Petroleo Brasileiro SA is causing trouble for a Mubadala Capital-owned oil refinery, handing bondholders one of the worst returns in Latin America. Mubadala’s Acelen, which operates the refinery in northeast Brazil, saw its notes fall into distressed territory at around 63 cents on the dollar, down... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, reaffirms that it is carrying out due diligence on Braskem, for the possible exercise of tag along or preemptive rights, in the event of the sale of the shares held by Novonor S.A. (Novonor) in the company, in accordance with the... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) expects to continue to produce oil for the next four decades, while also boosting investments in renewables as it seeks to drive an energy transition, an executive said on Tuesday. Joelson Mendes, the firm's Chief Exploration and Production Officer, said at an event hosted by Santander that Petrobras understands... Continue Reading →
(OE) The U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) on Tuesday approved the construction of a 704-megawatt (MW) wind farm off the coast of Rhode Island, the fourth major offshore wind project the agency has greenlit as the Biden administration tries to meet a goal of bringing 30 gigawatts (GW) of... Continue Reading →
(Reuters) Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday. The outlook for stronger energy prices has not changed the focus on investor returns from the U.S. industry, according to... Continue Reading →
Miros and Belga Marine sign partner agreements to strengthen their close long-term collaboration and extend their partnership for local service, sales and distribution of products and as-a-service solutions in Brazil. The agreements also extend the target markets to the whole region of South America. “For more than eight years, Miros and Belga Marine have successfully... Continue Reading →
(OE) While trouble areas continue to emerge in the young U.S. offshore wind industry, analysts at Intelatus Global Partners maintain an optimistic outlook for the industry in the long term. The business intelligence and consulting firm said in its latest U.S. Offshore Wind Report that it sees long-term foundations for the U.S. offshore wind sector... Continue Reading →
(Reuters) Exxon Mobil Corp and partners plan to spend $12.93 billion to develop their sixth offshore oil project in Guyana, according to a filing published on Monday by the South American country. The floating production platform for the so-called Whiptail project would start operations in 2027 and bring the Exxon-led consortium's oil output in Guyana... Continue Reading →
(OE) Japan's MODEC said its FPSO Anita Garibaldi MV33 has achieved first oil production for Petrobras at the Marlim field in the Campos Basin off the coast of Brazil. The FPSO is leased on a 25-year time charter contract to the state-owned Brazilian energy company—one of MODEC's longest charters to date. The FPSO is the 16th FPSO/FSO vessel that MODEC has... Continue Reading →
(OE) Subsea7 reports a major advance in its remote piloting technology by fully operating a workclass ROV from Scotland to carry out operations 9,400km away off the coast of Brazil. Developed by Subsea7, it can perform key inspection repair and maintenance (IRM) tasks "precisely and safely" under remote control with the potential to increase operational flexibility.... Continue Reading →
Brazil Energy Insight 