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(Reuters) Inpex, Japan's largest oil and gas exploration and production company, said on Thursday it had bought a 16.7% stake in the Moray East offshore wind farm in Scotland from Mitsubishi to expand further into renewable energy. The Moray East offshore wind farm, launched last April, has capacity of 950 megawatts from 100 turbines, with... Continue Reading →
The Brazilian oil company Petro Rio on Wednesday announced production start-up for the MUP5 well in the Frade offshore field in Brazil. Petro Rio said that the stabilized initial production of approximately 8,000 barrels of oil per day, above original projections, increasing the Field’s production by 25% and the company’s production by 10%. With this... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, Petrobras informs that its Board of Directors, at a meeting held today, authorized, by a majority vote, the submission to the General Shareholders' Meeting, scheduled for April 27, 2023, the proposal for distribution of dividends equivalent to R$ 2.74573369 per outstanding preferred and common share. The proposed dividends are in... Continue Reading →
With a strong sense of accomplishment, we are very proud to share 2022 results. They are the synthesis of a long trajectory of huge challenges which were overcome, efficient management, consistent strategic choices which were vindicated and the focus on value generation, all of which are today reflected in excellent economic and financial results and... Continue Reading →
(Zacks)Transocean, Inc. RIG reported an adjusted net loss of 49 cents per share in the fourth quarter of 2022. The figure was wider than the Zacks Consensus Estimate of a loss of 19 cents per share. This underperformance can be attributed to a decline in revenues from contract drilling. Moreover, RIG’s bottom line declined from the... Continue Reading →
Capital Link’s Jones Act webinar on Offshore Wind, moderated by lawyer Winston & Strawn’s Charlie Papavizas, provided good insights into the plans of leading U.S. participants in the sector. The panel offered an extremely positive view of the most exciting sector in Jones Act shipping at this time. Panelist Jeff Andreini of Crowley, which is involved... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) on Tuesday reported record net profit of 33.4 trillion pesos ($6.9 billion) for 2022, double the previous year, boosted by higher oil prices and greater-than-expected production. Ecopetrol also reported a fourth-quarter net profit of 6.85 trillion pesos, up 13% from a year earlier. Reuters Graphics "During 2022 Ecopetrol... Continue Reading →
(OM) BW Energy is progressing its planned Maromba field development in the Campos Basin offshore Brazil, the company revealed in its latest results review. Last April it entered an agreement to purchase the FPSO Polvo from BW Offshore for deployment on Maromba following an upgrade. Discussions continue on financing this process, and planned first oil has now been pushed... Continue Reading →
PRIO expects to increase investments by 180% in 2023, to US$ 600 million, and reach the end of the year with a production level of around 100,000 barrels/day, said the coordinator of the company's wells, Estevão Borges Pereira. The oil company intends to increase its production in the Campos Basin by 25% – currently around... Continue Reading →
The independent operator PetroReconcavo announced the completion of the acquisition of 100% of the shares of Maha Energy Brasil, an exploration and production company headquartered in Rio de Janeiro and with onshore operations in Bahia and Sergipe. The deal involved US$ 138 million and was announced in December last year. With the acquisition, PetroReconcavo now... Continue Reading →
Brazil Energy Insight 