Offshore driller Seadrill Ltd on Tuesday obtained court approval for its reorganization plan, clearing the way for it to emerge from bankruptcy. U.S. Bankruptcy Judge David Jones in Houston signed off on the plan during a virtual hearing. Under the plan, creditors will exchange $4.9 billion in debt for equity in the company. Seadrill will... Continue Reading →
Petro Rio -TBMT-10H WELL START OF PRODUCTION
Petro Rio S.A. (“Company” or “PetroRio”), following best corporate governance practices, informs its shareholders and the market in general of the start of production of the TBMT-10H well, in the Tubarão Martelo Field (“TBMT”), with initial production of approximately 3,800 barrels of oil per day, still in the assessment period. The TBMT-10H well was drilled... Continue Reading →
Exxon’s second production unit arrives in Guyanese waters
(Reuters) - Exxon Mobil Corp's second floating production system for Guyana, the Liza Unity, arrived early on Tuesday in the South American country's waters, the U.S. oil company said. The production storage and offloading (FPSO) facility is expected to add 220,000 barrels per day (bpd) of oil capacity to Guyana's current 120,000-bpd output when it... Continue Reading →
EXCLUSIVE Gas crisis helps to land BP $500 million windfall
(Reuters) - BP's trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company's trading results said, as the energy major benefitted from a gas crisis that has left consumers and industries smarting. Natural gas and power prices soared to an all-time high in Europe and... Continue Reading →
GALP: SOLAR MUST DEMAND 500 THOUSAND TO 700 THOUSAND EUROS PER MW IN BRAZIL
(PetroleoHoje) Galp's recently acquired solar energy projects in Brazil should require investments between €500,000 and €700,000 per MW, informed the company's executive director, Andy Brown, at an investor conference on Monday. “But we expect to get 65%-70% financing as well, so the equity contribution is much smaller,” he said. Located in Bahia and Rio Grande... Continue Reading →
PETROBRAS CONTRACTS SCHLUMBERGER FOR THE COMPLETION OF 21 WELLS IN THE PRE-SALT
(PetroleoHoje) Schlumberger signed a contract with Petrobras to supply completion systems for 21 wells in pre-salt concessions. Installation of the systems is scheduled to start in the third quarter of 2022. The deal is the result of a public tender for the supply of direct hydraulic intelligent completion systems and selective lower completion systems. Petrobras... Continue Reading →
PPSA will sell more than 55 million barrels at the 3rd Union Oil Auction
Pre-Sal Petróleo published in the Official Gazette of the Union, the notice of the 3rd Union Oil Auction, which will sell more than 55 million barrels of oil owned by the Union in the fields of Búzios, Sapinhoá and Tupi and the Mero Development Area. The auction will take place at B3 on November 26th.... Continue Reading →
Petrobras clarifies about news in the media regarding government plans to sell majority stake
Petróleo Brasileiro S.A. – Petrobras, in relation to news published in the media regarding studies carried out by the government to sell Petrobras shares and lose the majority of the Company's shareholding control, informs that it inquired the its controlling shareholder, through the Ministry of Economy (ME), on the existence or not of such studies... Continue Reading →
Wintershall Dea Q3 Earnings More than Double on Higher Prices, Spending cuts
Oil and gas producer Wintershall Dea's most closely watched measure of earnings more than doubled in the third quarter, it said on Tuesday, benefiting from soaring oil and gas prices and spending cuts. The company, owned jointly by BASF and Russia's LetterOne, posted earnings before interest, tax, depreciation, amortization, and exploration expenses (EBITDAX) - a... Continue Reading →
FPSOs: Floating Ideas
(OE) The world’s FPSO fleet is getting older, with 55 FPSO units in the global fleet reaching the end of their design life in the next five years, with an additional five having life extension in place. With 19 more FPSOs currently being evaluated for life extension, safety issues and structural integrity concerns come to... Continue Reading →
