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(OET) U.S. oilfield services player Weatherford International has been assigned an upgrade in credit rating from B- to B with a stable outlook by S&P Global Ratings (S&P). Weatherford disclosed on Wednesday that S&P based the rating upgrade in part on the improvements in financial performance and liquidity. This was driven by “stronger operational performance,” according to the U.S. player.... Continue Reading →
Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of November. Key:(1) The MUP3A well, in the Frade Field, had its production temporarily interrupted due to a failure in the completion equipment, with expected resumption in January. (2) The... Continue Reading →
(Reuters) - The world's top central banks dominate the agenda next week with indications abounding that the aggressive pace of rate hikes might slow, but not yet fade away given price pressures. China publishes key economic data as Beijing loosens some of its strict COVID-19 shackles, while PMIs will provide a health check for the... Continue Reading →
Mainstream Renewable Power, Ocean Winds, and Statkraft have signed a memorandum of understanding (MoU) with Aker Solutions, to collaborate on offshore wind at the Utsira Nord license area in Norway. Mainstream, Ocean Winds, and Statkraft are in a consortium to pursue an application to develop floating wind power at the Utsira Nord license area in... Continue Reading →
(Reuters) The two largest U.S. oil companies - Exxon Mobil Corp and Chevron Corp - disclosed plans to increase outlays on energy projects next year amid high oil demand and prices. While spending more, it will be less than half the combined $84 billion they spent in 2013, when oil prices often traded above $100 per barrel... Continue Reading →
(Reuters) Former Elliot Management activist fund manager Franck Tuil on Thursday told Wood Group to buy back some of its stock to avoid becoming a takeover target, sending shares in the oil services provider up by the most in six weeks. It is the first public campaign for his $600 million multi-strategy fund, Sparta Capital,... Continue Reading →
Philip Lewis, Contributor (OE) December was a month of major “firsts” in the U.S. offshore wind space. The first federal auction for offshore wind was held for the West Coast, and the first federal leases for commercial floating wind projects were provisionally awarded. These events are key milestones in the journey to achieve the federal vision of... Continue Reading →
(OE) Global Port Services, owned by Global Energy Group alongside the Port of Nigg, has said it has secured multiple contracts to support its client Seagreen Wind Energy Limited (SWEL), with site enabling works for the pre-assembly construction of wind turbine components (WTGs) at its Port of Nigg facility. The news comes as the final... Continue Reading →
Oil and gas company Borders & Southern Petroleum said Thursday it had secured the extension of its Production Licences PL018, PL019, PL020, including the Darwin Discovery Area, offshore the Falkland Islands. The offshore licenses were due to expire on the December 31, 2022. After applying for a two-year extension, the company has received confirmation from... Continue Reading →
Philip Lewis, Contributor (OE) Developers are beginning to release details of their bids for yesterday’s California floating wind auction. The successful bidders for the two north California Humboldt sites, RWE and CIP, both bid the highest prices per square kilometer of lease area. Both companies have also identified comparatively low development potential of at 1.6 GW... Continue Reading →
Brazil Energy Insight 