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Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on January 27, 2021, informs that the validation stage of the enrollment of Petros Plan 3 (PP-3) was concluded, totaling 2,176 approved requests. The technical and administrative feasibility studies of the new plan were completed and the Petros’ Executive Board certified its feasibility in a... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on April 16, 2021, April, 29, 2021, May 5, 2021 and May 31, 2021, informs that its Board of Directors authorized the convening of an Extraordinary General Meeting (EGM) for the election of eight positions to the Board of Directors filled by the multiple... Continue Reading →
(Reuters) - The world's biggest oil traders said on Tuesday they see oil prices staying above $70 a barrel with demand expected to return to pre-pandemic levels in the second half of 2022. Oil prices crashed in April last year when the COVID-19 movement restrictions hit their peak with the U.S. crude benchmark turning negative... Continue Reading →
The FPSO Cidade de São Vicente will leave Brazil possibly in July. After trying unsuccessfully to negotiate a new contract in the country, BW Offshore will take the production unit abroad. The likely destination is Asia. The decision to withdraw the FPSO from Brazil was taken recently by BW Offshore, after negotiations with Trident and... Continue Reading →
Oil States do Brasil won an important contract from Petrobras to maintain equipment and accessories and to support the offshore operations of the state-owned company. The contract will provide operational support for various subsea equipment used in Petrobras projects to ensure full availability in operations. This type of contract, which historically was executed within the... Continue Reading →
Offshore drilling contractor Borr Drilling has made changes to the structure of its joint ventures in Mexico by exiting the integrated services JVs and becoming a majority owner in the drilling services JVs, which will continue to earn day rates, providing the company with sufficient liquidity. Borr Drilling has five rigs working for joint ventures... Continue Reading →
Japan’s floating solutions provider MODEC has started the engineering, procurement, construction, and installation (EPCI) work on the floating production storage and offloading (FPSO) vessel set for the Bacalhau field. MODEC said via social media channels on Monday that the company would proceed with EPCI work on the Bacalhau FPSO. The company added that it would... Continue Reading →
(Reuters) - Oil prices reached their highest in more than two years on Tuesday, buoyed by expectations demand will recover rapidly in the second half of 2021. Brent crude rose 78 cents, or 1.1%, at $73.64 a barrel by 1311 GMT, the highest since late April 2019. U.S. oil gained 88 cents, or 1.2%, to... Continue Reading →
Equinor (EQNR.OL) will speed up investments in renewable energy and low carbon solutions as new oil and gas comes onstream ahead of peak production in 2026, the company said on Tuesday as the pressure mounts to prove it can adapt to a greener future. The majority state-owned Norwegian company said it would dedicate more than 50% of... Continue Reading →
(REUTERS) The share of fossil fuels in the world's total energy mix is as high as a decade ago, despite the falling cost of renewables and pressure on governments to act on climate change, a report by green energy policy network REN21 showed on Tuesday. Fossil fuel use has persisted amid rising global energy demand,... Continue Reading →
