Brought to you by Quest Offshore & Southern Cone Consultants
Petrobras divestment plan suffered a significant blow. The company decided that it will no longer sell 50% of the Marlim Cluster, which comprises of the Marlim, Voador, Marlim Leste and Marlim Sul fields, located predominantly in deep waters in the Campos Basin. “It is an asset that we have already managed to extend [the term... Continue Reading →
Companies in the most polluting sectors that have invested in climate action often find themselves valued below peers that have been slower to do so, highlighting the difficulty of getting shareholders to back sustainability. Investors have poured more than $30 trillion into environmental, social and corporate governance (ESG) strategies, data from the Global Sustainable Investment... Continue Reading →
BP said on Thursday it had started production at the Platina oilfield offshore Angola, helping Africa's second biggest oil exporter slow a decline in output. The Platina field will be linked to BP's existing Greater Plutonio floating production, storage and offloading (FPSO) system in Angola's Block 18 which started up in 2007. It will produce... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras loosened its dividend policy and raised capital spending projections in a new five-year strategic plan unveiled late on Wednesday that was cheered by analysts and investors. In a securities filing, Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said it was ending its previous dividend policy, which... Continue Reading →
(Rigzone) Oil traders are betting that longer-term crude prices could be set to spike because of a lack of investment in future supply. Since hitting their high for the year last month, the most-active oil futures have fallen almost 5%. By comparison, those for late 2022 and 2023 have barely moved, sticking above $70 a... Continue Reading →
The U.S. is leaving Venezuelan operations of Chevron Corp. and top American oil-service companies at a standstill after President Nicolas Maduro’s socialist party came victorious in regional elections questioned by several Western nations. The U.S. Treasury Department on Wednesday extended until June. 1 its authorization for Chevron, Halliburton Co., Schlumberger, Baker Hughes Co. and Weatherford International Plc... Continue Reading →
The Brasfels shipyard, in Angra dos Reis (RJ), began manufacturing the production modules for the FPSO P-78, which will be installed in the Buzios field, in the Santos Basin. Altogether, ten modules will be built here in Brazil – out of a total of 21 – and the work should last around 20 months. The... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, in a meeting held today, approved the revision of the Shareholder Remuneration Policy (Dividend Policy). The enhancement of the Dividend Policy has become important because of the anticipated achievement of the target of gross debt below US$ 60 billion in the 3rd quarter of... Continue Reading →
(Reuters) - Brazil's Petrobras (PETR4.SA) said on Wednesday it expects to invest $68 billion from 2022 to 2026, a sharp increase from its previous five-year plan, as the state-run oil company seeks to grow oil production from the subsea pre-salt area. The oil production forecast for next year fell slightly, however, with Petroleo Brasileiro SA, as the... Continue Reading →
(Reuters) - Brasil BioFuels will build the country's first plant to produce Hydrotreated Vegetable Oil, a fuel known as HVO or 'green diesel'. The plant will be in the northern city of Manaus and will begin production in January 2025, demanding 1.8 billion reais ($322 million) in investments. The plant will have an annual capacity... Continue Reading →
