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MODEC plans to raise funds to support future FPSO activities by issuing new shares to MITSUI and Mitsui O.S.K. Lines (MOL), and forming a business alliance with MOL. The company has special-purpose entities providing lease, operation and charters of floating production systems. Projects have been growing in scope and funds required for charter arrangements are... Continue Reading →
(epbr) The equatorial margin, the region where the promising Foz do Amazonas Basin is located, has already been called the "new pre-salt layer" by the Minister of Mines and Energy, Alexandre Silveira (PSD), and is an important part of Petrobras' exploratory strategy in the coming years. years. But, due to lack of environmental licensing, no... Continue Reading →
Reuters) - Brazilian environmental agency Ibama has recommended the rejection of state-run oil firm Petrobras' (PETR4.SA) request to drill a well in the mouth of the Amazon River Basin, documents seen by Reuters showed on Friday. Signed last week by several environmental analysts from Ibama, the report also recommended the agency stop processing environmental licenses for the... Continue Reading →
(Reuters) Exxon Mobil Corp and its partners have approved a $12.7 billion investment for their fifth and most expensive offshore oil project in Guyana, the U.S. firm said in a statement. The project called Uaru will produce up to 250,000 barrels of oil and gas per day and cost 27% more than the prior of equivalent size,... Continue Reading →
Italian energy group Eni said on Friday its first-quarter net profit fell 11% year on year on lower oil and gas prices compared with the first three months of 2022, when Russia's invasion of Ukraine sent energy prices soaring. Adjusted net profit for the period came in at 2.91 billion euros ($3.2 billion), down from... Continue Reading →
Three firms are vying to buy a minority stake of up to 49% in Iberdrola's "Baltic Eagle" offshore wind farm off the German coast, newspaper Expansion reported on Friday, citing unidentified market sources. The top candidates for the transaction valued at around 700 million euros ($769 million) are Abu Dhabi's Masdar, Swiss fund EIP and... Continue Reading →
(Reuters) - Oil major Chevron Corp (CVX.N) beat market expectations on Friday as profit nudged higher in the first quarter, with earnings from refining compensating for slides in energy prices as well as oil and gas production. Net profit climbed 5% to $6.57 billion or $3.46 per share. Results beat consensus by 4%, according to Refinitiv data.... Continue Reading →
– Petróleo Brasileiro S.A. - Petrobras, following the press release disclosed on March 1, 2023, informs that, in a meeting held today, the Annual General Meeting (AGM) approved the distribution of dividends relating to the 2022 fiscal year in the amount of R$17.06202044 per outstanding share (common or preferred). This amount includes payments already made... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding a wave of strong demand and cost-cutting tied to efforts to counter... Continue Reading →
(Reuters) German chemicals group BASF on Thursday said it was working to exit energy business Wintershall Dea, with a stock market listing remaining the preferred option. CEO Martin Brudermueller also flagged a possible sale of the oil and gas producer to investors. "The exit will not take place immediately," Brudermueller said in a speech to... Continue Reading →
Brazil Energy Insight 