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Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of February. Key: (1) The data of Albacora Leste in January refers to 90% of PRIO’s participation in the field, considering the production throughout the month. Since the acquisition's closing... Continue Reading →
(Reuters) - Mexico's heavily-indebted state oil company Pemex will seek to avoid pricy capital markets even as it faces billions in maturing debts this year and next, its chief executive told Reuters, saying Pemex had been "punished" by ratings agencies despite measurable improvements in its operational numbers. With its financial debt totaling nearly $108 billion... Continue Reading →
(OE) The Belgian companies DEME, Tractebel, and Jan De Nul on Wednesday introduced a new harsh-environment offshore floating solar technology called SEAVOLT. According to the three firms, SEAVOLT technology (patent pending) can withstand harsh offshore conditions while creating large surfaces that are protected from the waves. "The modular design allows for easy adaptation to different... Continue Reading →
Petrobras' investments in exploration activities planned for the next five years are around USD 6 billion, with a main focus on sustainability, both economic and environmental. The company's strategy favors its new exploration projects, such as those that will be implemented in the Brazilian Equatorial Margin and in the Tayrona block, in Colombia, the latter... Continue Reading →
(OM) The latest analysis from McKinsey & Co. reveals that oil and gas industry costs could increase between 6% and 10% in 2023 due to labor uncertainties and raw materials inflation. The analysis finds that primary operation tasks, such as regular inspections and maintenance, are becoming more expensive as labor rates grow upwards of 9% per... Continue Reading →
(Reuters) West-Africa focused Tullow Oil reported a 2022 free-cash flow of $267 million on Wednesday, up from $245 million the previous year and in line with forecasts, supported by increased equity in its Ghana operations and higher oil prices. It plans to invest $400 million this year, mainly on its flagship fields in Ghana, expecting free cash flow to... Continue Reading →
Westwood Global Energy, an energy market research and consultancy firm, has revealed that offshore rig scrapping is at its lowest level in years, as the offshore drilling market’s recovery intensifies. As a result, cold-stacked rigs are being increasingly reactivated for new assignments amid growing demand and elevated day rates. According to Westwood’s analysis, during the... Continue Reading →
(OM) The growth in investment in renewable energy projects continues in 2023, according to a recent Rystad Energy report. There has been significant growth in offshore wind, with over 45 GW of capacity launched globally in 2022. As many countries ramp up efforts to meet self-imposed 2030 targets for installations, 2023 is expected to be... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, and in addition to the material fact disclosed on February 28, 2023, informs its investors and the market in general that the root cause of the unit shutdown was solved, and the 3R-2 unit's... Continue Reading →
French transmission system operator RTE Réseau de Transport d’Electricité has started work to connect the country’s first floating offshore wind farm to the national grid. The laying of the export cable has started to connect the Eoliennes Flottantes du Golfe du Lion (EFGL) wind farm in the Mediterranean Sea to the French national grid. ”Initiated... Continue Reading →
Brazil Energy Insight 