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(Valor) Until the month of April, the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) received requests for environmental licensing for 54 projects for offshore wind power generation, with a total capacity of 133.3 gigawatts (GW) of power. The total energy to be generated in the projects corresponds to almost 70% of the... Continue Reading →
The General Superintendence of the Administrative Council for Economic Defense (Cade) approved the acquisition, by BW Energy Maromba do Brasil, of the entire interest in the Golfinho and Canapu fields, 65% of interest in block BM-ES-23 and 100 % interest in the Camarupim and Camarupim Norte fields (Cluster Camarupim), all currently held by Petrobras. The... Continue Reading →
Dril-Quip achieved revenue of $94 million in second-quarter 2022, up $10.8 million from the first quarter, and driven by improved subsea equipment and downhole products and services results. President and CEO Jeff Bird said the figures reflect the improving offshore drilling market and a focus on controlling costs while improving margins Downhole Tools experienced broad growth across all geographies,... Continue Reading →
(Reuters) - A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador at accounts in the country as a result of a dispute over a $391 million settlement award that Anglo-French oil company Perenco says remains unpaid, a document seen by Reuters show. Ecuador's government pledged in June 2021 to honor the debt,... Continue Reading →
Seabras JV, an associated company in which Paratus Energy Services indirectly holds a 50% equity interest, has secured a contract extension with Petrobras for the pipelay support vessel (PLSV) Sapura Esmeralda. Under the two-year contract extension, Sapura Esmeralda will work for the Brazilian oil and gas giant from 2 August 2022 to 1 August 2024.... Continue Reading →
(Reuters) - Petrobras' Brazil-listed shares jumped more than 6% on Friday, approaching a 12-year high, after the state-run oil company smashed quarterly profit estimates and announced a record dividend payment. The company announced on Thursday afternoon an 87.8 billion-real ($17 billion) dividend payout, the largest ever, sending the firm's shares up some 3.3% in intraday... Continue Reading →
(Reuters) - Petroleos Mexicanos (Pemex) is ready to invest billions of dollars in a disputed major Gulf of Mexico oil field once its U.S. partner Talos Energy accepts Pemex will run the project, the chief executive of the Mexican state oil company said. The 850-million-barrel Zama field has become a bone of contention under President... Continue Reading →
(TW) Keppel Corp might be looking to exit the offshore market, but it is not stopping the company from trying to hook offshore contracts from Petrobras worth up to SGD 8bn ($5.8bn). The Singapore-listed company said Wednesday that it was is in advanced discussions with the Brazil oil major for the P-80 floating production storage... Continue Reading →
(Rigzone) Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. That’s what Enverus Intelligence Research (EIR) stated in its summary of 2Q 2022 U.S. upstream M&A activity, which highlighted that, despite the challenge, about $12 billion was transacted “as numerous private equity (PE) firms brought their investments... Continue Reading →
(Rigzone) Drilling and completion activity in South America is expected to peak this year after a significant slowdown in 2020 due to the global demand destruction brought on by the Covid-19 pandemic, Rystad Energy claimed. According to Rystad, the rebound is more pronounced for offshore wells, primarily driven by an uptick in activity in Brazil... Continue Reading →
Brazil Energy Insight 