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(Reuters) Schlumberger on Friday raised its annual revenue forecast, buoyed by higher demand for its oilfield services from producers looking to raise output as oil prices surged. Global crude prices hovered above $100 per barrel in the quarter, fueled by tight supplies following sanctions on major producer Russia and energy consumption returning to near pre-pandemic levels. Schlumberger's results... Continue Reading →
Adira Renewables, a wholly-owned subsidiary of Kim Heng, signed a non-binding Memorandum of Understanding (MoU) with Crowley Wind Services to cooperate on offshore wind farm cable laying installation projects across the US East Coast. Under the MoU, Kim Heng will issue updates about material developments and/or the execution of a definitive agreement as and when... Continue Reading →
In 2Q22, we delivered an operating performance fully in line with the Company's plans. Average production of oil, NGL and natural gas reached 2.65 MMboed, 5.1% below 1Q22. This result was mainly due to the beginning of the Production Sharing Contract for the Surplus Volumes of the Transfer of Rights of Atapu and Sepia, effective... Continue Reading →
SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become... Continue Reading →
(Reuters) - Former President Luiz Inacio Lula da Silva was officially nominated by his Workers Party (PT) on Thursday to run on Oct. 2 against far-right incumbent President Jair Bolsonaro in Brazil's most polarized election in decades. With a double-digit lead in opinion polls, a Lula victory would represent an astounding comeback by the former... Continue Reading →
(Reuters) - Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be a second-straight quarter of record-breaking profits, lifted by stellar refining margins and high oil and gas prices. A rapid recovery in demand following the end of pandemic lockdowns and a surge in energy... Continue Reading →
(Reuters) - Ciro Gomes, a left-of-center former governor, kicked off Brazil's presidential election season on Wednesday, becoming the first candidate to officially announce his candidacy for the Oct. 2 vote. Gomes, 64, presented himself as an alternative to the polarized choice of far-right incumbent President Jair Bolsonaro or Workers Party leader and former two-term president... Continue Reading →
(Reuters) - Economic advisers to Brazil's leading presidential candidate are drafting plans for a more aggressive foreign exchange policy, including more market interventions and tighter regulation of derivatives to curb volatility, senior aides told Reuters. Economist Pedro Rossi, who leads the team drafting currency policy for leftist former president and 2022 front-runner Luiz Inacio Lula... Continue Reading →
The company restarted the drilling of the wildcat well ES-M-596, in a water depth of 2,117 meters. As we reported, the original well (1-BRSA-1385-ESS) began to be drilled at the end of June. The drilling of the repeated well, named 1-BRSA-1385A-ESS, began yesterday (19). As the market knows, when the original well is lost, operators... Continue Reading →
(Reuters) - The Biden administration on Wednesday said it had identified 700,000 acres for possible offshore wind energy development in the Gulf of Mexico, seeking to expand a growing clean energy industry to a major U.S. oil and gas hub. It also said President Joe Biden would direct his Interior Department to move ahead with... Continue Reading →
Brazil Energy Insight 