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Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch reaffirmed its rating at "BB-", with stable outlook, following Brazil's rating. The stand-alone rating was also reaffirmed at “bbb”, four notches above the country. The agency considers Petrobras' ratings to be linked to those of the sovereign given the Company's strategic importance to the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received today, up front, from Shell, the amount of R$ 347 million, regarding the complement of the firm compensation (earnout) for fiscal year 2022, related to the Atapu block. The amount already includes the amount of the gross-up of taxes related to Shell' 25% stake in Atapu... Continue Reading →
The American Bureau of Shipping (ABS) has approved in principle the Bassoe D-Floater, a floating offshore wind turbine foundation. It is said that the Bassoe D-Floater foundations will be able to handle 15 megawatt offshore turbines, which will be among the world's largest. Apart from prototypes being tested onshore, there are no 15 MW turbines... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/24/2020, 07/28/2020 and 11/06/2020, informs that it received today from Karoon Petróleo & Gás Ltda (Karoon), a subsidiary of Karoon Energy Ltd, the amount of R$ 430 million, equivalent to the contingent payment of the oil price for the year 2022. This amount... Continue Reading →
(Reuters) Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and... Continue Reading →
UK-headquartered energy giant BP has unveiled its new energy outlook, highlighting the main trends and uncertainties surrounding the energy sector and the transition to low-carbon and green energy sources over the next three decades. With the current energy and climate crises at the forefront, BP’s new Energy Outlook explores the key trends and uncertainties surrounding the energy... Continue Reading →
Philip Lewis, Contributor (OE) In recent State of the Port address, the first held since 2020, the Port of Long Beach’s Executive Director David Cordero discussed the port’s plan to support California’s emerging floating wind industry. The Port of Long Beach has not yet been identified as a marshalling port for any one project. However, under its Zero Emissions,... Continue Reading →
(Reuters) Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020. China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories, have contributed to an extraordinary wave of buying across the... Continue Reading →
(Reuters) The new chief executive of Petrobras told employees the oil company will drive Brazil's transition to renewable energy, while keeping its oil and gas expansion on track. The first remarks by Jean Paul Prates as CEO, in a video to employees, mark a strategy shift for the state-run firm, which has spent the last... Continue Reading →
(Reuters) Germany boosted its offshore wind power capacity by 357 megawatts (MW) to 7,036 MW last year, inching towards a planned 30,000 MW by 2030, power grid operator TenneT said. The German arm of the Dutch transmission group will play a key role in achieving the target, linking the majority of new wind farms to... Continue Reading →
Brazil Energy Insight 