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(Reuters) - Shareholders in Brazil's Petrobras (PETR4.SA) have elected six government-affiliated nominees and two nominees affiliated with the market to serve on the state-run oil company's board, three people familiar with the matter told Reuters on Friday. Overall, the number of board seats held by the state is unchanged, and the balance of power between non-government shareholders... Continue Reading →
(OEM) While the current, improved demand for offshore accommodation rigs is mainly driven by a recovery in the oil and gas market, Prosafe believes that the focus on energy transition will contribute to further demand. Prosafe said in its 2Q 2022 report on Friday that the general outlook has improved significantly as the oil price has recovered... Continue Reading →
Demand for offshore drilling rigs has increased and the global floater market will continue to benefit from an ongoing recovery, Maersk Drilling, an offshore drilling contractor, has said. The rig owner said in its 2Q 2022 report on Friday that the utilisation across both floater and jack-up segments continued to trend upwards during the quarter, primarily as... Continue Reading →
(Reuters) - Brazilian central bank chief Roberto Campos Neto on Thursday said Brazil hiked interest rates earlier and faster than the rest of the world, and that people understand the monetary tightening is "largely done." Since raising rates earlier this month to 13.75% from a 2% record low in March last year, policymakers have been... Continue Reading →
(OM) The US Department of the Interior reported next steps to bring the opportunity of offshore wind energy to the Gulf of Maine. The Bureau of Ocean Energy Management (BOEM) has made available a Request for Interest (RFI) and Request for Competitive Interest (RFCI) in the Federal Register for public comment. "The IRA [Inflation Reduction Act] will create good-paying jobs... Continue Reading →
(OM) bp is winding down its oil and gas exploration business in Mexico, according to a Bloomberg report. The move comes six years after its arrival following the opening of the energy sector to private companies as part of the 2013 energy reform. The subsidiary BP Exploration Mexico will conclude its participation in three exploration... Continue Reading →
In a move to bring new investments into the oil and gas sector and boost production by tapping into Nigeria’s deepwater hydrocarbon potential, the country inked new production sharing contracts (PSCs) for six offshore licences with oil majors. The execution of fully termed agreements for the renegotiated PSCs was revealed on 12 August 2022, less... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras hereby informs that the Executive Board approved on August 18, 2022, the 1st issuance of book-entry commercial notes (Issuance), without collateral and personal guarantee, in up to two series (Book-entry Commercial Notes), which will be subject to public distribution, with restricted distribution efforts, under mixed regime of firm guarantee and... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on June 1, 2022, informs that, after compliance with all the precedent conditions set forth in the share purchase and sale agreement, the purchase of Edison S.p.A.'s stake (50%) in Ibiritermo S.A. has been completed and the transfer of the Usina Termelétrica Ibirité (UTE... Continue Reading →
The Brazilian Institute of the Environment (Ibama) granted an operating license renewal to Equinor, authorizing the Norwegian oil company to carry out short-term drilling and testing activities in the Bacalhau field, in the Santos Basin. The license will be valid for four years. According to the document, the company will be able to drill up... Continue Reading →
Brazil Energy Insight 