The Swiss-based company behind the Nord Stream 2 pipeline denied on Wednesday that it filed for bankruptcy but confirmed it terminated employee contracts. It had previously been reported by several online sources that the company had filed for bankruptcy, and fired all 106 of its employees. Nord Stream 2 was one of the first targets of the... Continue Reading →
(Reuters) - Argentine state oil company YPF (YPFD.BA) on Thursday posted a $247 million net profit in the fourth quarter 2021, a 54% drop compared to the year-ago period. The company said profit was hurt by high international prices that could not be fully passed onto local customers. However, revenue grew from some of its main petroleum... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro on Thursday said state-run oil producer Petroleo Brasileiro SA could, due to the crisis inflicted by the war in Ukraine, lower its profit to prevent fuel prices from exploding. In a weekly social media address, Bolsonaro said he was certain Petrobras, as the company is known, would do what... Continue Reading →
(Reuters) - Bulls have surged into the U.S. crude oil options market in recent days as futures touch highs not seen in a decade, betting that crude's rally will persist, according to analysts and exchange data. The global oil market was already tight even before Russia invaded Ukraine last week, which has since sent benchmark... Continue Reading →
Credit ratings agency Moody’s has placed ratings of German oil and gas company Wintershall Dea on review for downgrade, reflecting downside credit risks stemming from the potential for additional, more severe sanctions against Russian businesses to affect the company’s operations and credit profile. According to Moody’s statement on Thursday, the decision to place Wintershall Dea’s... Continue Reading →
(Upstream) Five of seven lease auctions planned by the US Bureau of Ocean Energy Management up to the end of the 2025 are expected to have opportunities for floating wind. Representatives of major offshore wind developers said that 80% of offshore wind potential is in the floating wind sector at the Floating Wind Solutions Conference... Continue Reading →
OneSubsea, the subsea technologies division of Schlumberger, has contracted Vallourec to supply upset riser joints for the Bacalhau project offshore Brazil. The contract was awarded on behalf of Subsea Integration Alliance, a strategic global alliance between Subsea 7 and OneSubsea. Under the contract, Vallourec will supply 3,000 metres of upset riser joints equipped with VAM... Continue Reading →
(Reuters) - Technip Energies (TE.PA) has renounced new business opportunities in Russia following its invasion of Ukraine, the head of the French oil and gas services provider said on Thursday, as its full-year margin guidance drove up shares. "We have ceased to work on future business opportunities in Russia," Arnaud Pieton said in an earnings statement, but... Continue Reading →
(Reuters) - Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions. Support also came from U.S. crude stockpiles at multi-year lows, helping to lift Brent crude futures as high as $119.84 a barrel for the highest level... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras has not taken a decision on fuel price adjustments, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday. He said that after Russia's invasion of Ukraine, the oil market was "nervous" and with many doubts. "The world has plunged into a scenario of uncertainty," Luna told Reuters.... Continue Reading →
