Petróleo Brasileiro S.A. - Petrobras, regarding the pieces of news published in the media, clarifies that there is no decision, up to this moment, about the exit of the Chief Financial and Investor Relations Officer, Andrea Marques de Almeida and the Chief Trading and Logistics Officer, André Barreto Chiarini. All members of the Executive Board... Continue Reading →
PETRO RIO ACQUISITION OF INTEREST IN WAHOO
Petro Rio S.A. (the “Company” or “PetroRio”) (B3: PRIO3), following best corporate governance practices and in addition to the Material Fact of November 19, 2020, informs its shareholders and the market in general of the signing of an agreement with Total E&P do Brasil Ltda. for the acquisition of a 28.6% interest in the BM-C-30... Continue Reading →
Rystad: Offshore project commitments set to hit record, deepwater to have top growth
Offshore project commitments are expected to not only recover but reach a new record—cumulatively almost 600 projects in the 5-year period toward 2025—according to Rystad Energy. Deepwater commitments will see the largest growth as costs have become much more competitive against greenfield continental shelf reserves. For this analysis, Rystad defined a project as committed when... Continue Reading →
Seadrill Writes Down $2.9B on Its Drilling Rigs. Expects Depressed Demand in 2021
Offshore drilling rig contractor Seadrill said on Thursday it had taken an additional $2.9 billion non-cash impairment on its assets due to a bleak outlook for the sector, which has reduced demand for its drilling rigs. Seadrill, which in February filed for Chapter 11 bankruptcy protection in the United States for the second time in... Continue Reading →
Guyana: No Oil at Exxon’s First Well in Canje Block
ExxonMobil has failed to find commercial quantities of oil at the Bulletwood-1 offshore well in the Canje Block, offshore Guyana. The well, spudded on December 30, 2020, was drilled using the Stena Carron drillship and was the first well drilled in the Canje Block off Guyana. The 4,800 sq km Canje Block lies 180km offshore... Continue Reading →
Fifth Petrobras Director to Follow CEO Out
A fifth board member at Brazil's Petrobras will step down, the company said as of Wednesday, and the state-run oil producer's shares tumbled more than 3% as management turmoil showed no signs of abating. A day earlier, four other board members stepped down at Petroleo Brasileiro SA, as the company is formally known. Their messages,... Continue Reading →
ExxonMobil curbs spending plans, reveals path to lower-carbon future
Oil major ExxonMobil has revealed its capital spending in 2021 will be in the range of $16 billion to $19 billion as well as its plans to focus on developing technologies to reduce emissions, especially carbon capture and storage technology, and eliminate routine flaring by 2030. ExxonMobil’s 2021-2025 capital program has been optimized to the... Continue Reading →
Greenhouse Gas Emissions: Investor Coalition CURE Pushes Exxon to Do More
A coalition of investors that oversees $2.5 trillion in assets urged ExxonMobil on Wednesday to take bolder action to slash greenhouse gas emissions and make key governance changes. The Coalition for a Responsible Exxon (CURE), which has 145 members, said the energy giant Exxon had taken steps in the "right direction" amid pressure from activist... Continue Reading →
Guyana: ExxonMobil Moves Drillship Away from Bulletwood Well. Drilling Result Unknown
The Stena Carron drillship most recently used by ExxonMobil to drill the Bulletwood-1 well in the Canje Block offshore Guyana has moved to a new drilling location. This is according to Westmount Energy which owns an indirect interest in the Canje Block, through its 7.2% stake in JHI Associates, which is a partner in the... Continue Reading →
Energy firms bet on hydrogen boom, but payday far away
(Reuters) - Governments and energy companies are placing large bets on clean hydrogen playing a leading role in efforts to lower greenhouse gas emissions, but its future uses and costs are highly uncertain. “Without hydrogen by 2050 we cannot aim to be a net zero (carbon) economy,” Royal Dutch Shell CEO Ben van Beurden told... Continue Reading →
