Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3) announces its earnings for the first quarter of 2023. HIGHLIGHTS FOR THE PERIOD Click here for the Earnings Release.
PRIO 1Q23 Earnings Release
Noble rig hits oil-bearing intervals off Guyana and JV partners hike up cost estimates to finish drilling ops
(OED) Partners in the Corentyne block – Canada’s CGX Energy and Frontera Energy – have revised the total cost estimate for an exploration well, which recently found oil-bearing intervals, and its drilling programmed offshore Guyana, which is being carried out by a Noble-owned rig. Back in February 2022, Frontera and CGX disclosed a plan to spend... Continue Reading →
FutureOn expands its reach into Latin America with multi-year contract award from Petrobras
FutureOn, the global energy software company, has secured a multi-year contract with Petrobras to license its groundbreaking digital design and decision-making platform, FieldTwin. The major Brazilian oil and gas company will leverage the platform to spearhead the digital transformation of its subsea operations. FieldTwin will disrupt the current subsea workflow, enabling Petrobras’ teams to accelerate... Continue Reading →
North Sea Renewables Grid Project to Provide Clean Power to Offshore Oil and Gas Platforms
(OE) Cerulean Winds plans to build an offshore integrated green power and transmission system, powered by floating wind, that North Sea oil and gas platforms will plug into for clean power, under the project called the North Sea Renewables Grid (NSRG), Cerulean and partner Frontier Power International will develop three 333km2 sites of hundreds of floating... Continue Reading →
Aker Solutions Secures Sizable Order for Deepwater Technology in West Africa
TotalEnergies has awarded Aker Solutions a contract to provide its deepwater standard Subsea Production Systems for three additional infill wells tied back to the Moho Nord field in the Republic of the Congo. Aker Solutions said the order was a sizable one. Aker Solutions defines a sizeable contract as being between NOK 0.5 billion (currently... Continue Reading →
Saipem to Deliver Subsea Structures for Exxon’s Most Expensive Offshore Oil Project in Guyana
Italian offshore energy services firm Saipem has received from ExxonMobil the authorization to proceed with the final phase of its contract related to the delivery of subsea systems for the Uaru oil field development project in Guyana. In December 2022, pending regulatory approvals, Saipem was awarded a large contract by ExxonMobil Guyana for the Uaru oil field... Continue Reading →
Technip Energies Sets Up Green Hydrogen JV, Beats Quarterly Earnings Expectations
(Reuters) French oil and gas services group Technip Energies on Thursday announced a green hydrogen solutions joint-venture with Belgian group John Cockerill, while reporting stronger-than-expected first-quarter earnings. The need to combat climate change, along with Russia's invasion of Ukraine, have created opportunities for energy service firms, with increased investments in liquefied natural gas (LNG) and... Continue Reading →
Equinor beats Q1 forecast on strong energy trading
(Reuters) - Norway's Equinor (EQNR.OL) beat first-quarter profit expectations on Thursday, driven by strong results in energy trading, although earnings were below last year's record amid a sharp fall in natural gas prices. The oil and gas producer said adjusted profit before interest and tax for January-March fell to $12 billion from $18 billion a year earlier,... Continue Reading →
Shell posts $10 billion profit as trading offset lower energy prices
(Reuters) - Shell (SHEL.L) on Thursday posted first-quarter net profit of $9.65 billion, topping analysts' forecasts, as strong earnings from fuel trading and higher liquefied natural gas (LNG) sales offset cooling energy prices. The stronger-than-expected profits followed a string of forecast-beating results from rivals including BP (BP.L) and Exxon Mobil (XOM.N) as the sector continues to benefit from strong demand and price volatility.... Continue Reading →
Petrobras: Highlights on production and sales in 1Q23
In 1Q23, average oil, NGL and natural gas production reached 2.68 MMboed, 1.1% higher than 4Q22, mainly due to the start of the ramp-up of P-71, in Itapu field, in Santos Basin pre-salt, the start-up of 8 new wells in Campos Basin and higher production efficiencies in the platforms. Pre-salt production reached a new monthly... Continue Reading →
Brazil Energy Insight 