Latest news with #OffshoreTechnologyConference
Yahoo
09-05-2025
- Politics
- Yahoo
Head of Brazil's gas giant Petrobras criticized for 'drill, baby, drill!' comment about the Amazon
SAO PAULO (AP) — The head of Brazil's state-run gas and oil giant Petrobras was facing criticism on Friday after a video emerged of her saying 'Drill, baby, drill!' when speaking about controversial oil exploration near the mouth of the Amazon River. Magda Chambriard made the remarks Tuesday during the Offshore Technology Conference, in Houston. In a video obtained by the Brazilian newspaper Valor Economico and published Friday, Chambriard is seen addressing Clécio Luís, governor of the Amazonian state of Amapa, who was in the audience. 'We do believe we will have very good surprises once we have the (environmental) license to drill. So what one wants to say to Amapa is, 'Let's drill, baby, drill!'" Her comments prompted a round of applause, including from Luís. Petrobras did not immediately respond to an email request for comment. The company confirmed the authenticity of the video, according to Valor Economico. U.S. President Donald Trump has long used the phrase 'Drill, baby, drill!' in expressing support for increased oil exploration and production. 'The 'let's drill, baby' rhetoric may comfort industry leaders and short-sighted policymakers, but history will remember them as the ones who buried the 1.5 C goal," said Natalie Unterstell, president of Talanoa, a climate policy think tank, referring to the internationally adopted aim to keep warming under 1.5 C since pre-industrial times. Climate change is caused by the release of greenhouse gases like carbon dioxide. Oil, from exploration to its various uses, is a central driver of climate change. Chambriard was appointed by Brazil's leftist President Luiz Inácio Lula da Silva, whose environmental record in the Amazon is mixed. While he has curbed deforestation and championed the Amazonian city of Belem as the host of the U.N.'s COP30 climate summit in November, he also supports Petrobras's push to drill for offshore oil at the ecologically sensitive mouth of the Amazon River and other big projects that bring environmental impact to the world´s largest tropical forest. Exploratory offshore drilling near the Amazon, whose reserves are unknown, is expected to draw scrutiny during the COP30 summit. A central push of the annual climate talks has been to reduce the use of fossil fuels such as oil, gas and coal. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Winnipeg Free Press
09-05-2025
- Business
- Winnipeg Free Press
Head of Brazil's gas giant Petrobras criticized for ‘drill, baby, drill!' comment about the Amazon
SAO PAULO (AP) — The head of Brazil's state-run gas and oil giant Petrobras was facing criticism on Friday after a video emerged of her saying 'Drill, baby, drill!' when speaking about controversial oil exploration near the mouth of the Amazon River. Magda Chambriard made the remarks Tuesday during the Offshore Technology Conference, in Houston. In a video obtained by the Brazilian newspaper Valor Economico and published Friday, Chambriard is seen addressing Clécio Luís, governor of the Amazonian state of Amapa, who was in the audience. 'We do believe we will have very good surprises once we have the (environmental) license to drill. So what one wants to say to Amapa is, 'Let's drill, baby, drill!'' Her comments prompted a round of applause, including from Luís. Petrobras did not immediately respond to an email request for comment. The company confirmed the authenticity of the video, according to Valor Economico. U.S. President Donald Trump has long used the phrase 'Drill, baby, drill!' in expressing support for increased oil exploration and production. 'The 'let's drill, baby' rhetoric may comfort industry leaders and short-sighted policymakers, but history will remember them as the ones who buried the 1.5 C goal,' said Natalie Unterstell, president of Talanoa, a climate policy think tank, referring to the internationally adopted aim to keep warming under 1.5 C since pre-industrial times. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Climate change is caused by the release of greenhouse gases like carbon dioxide. Oil, from exploration to its various uses, is a central driver of climate change. Chambriard was appointed by Brazil's leftist President Luiz Inácio Lula da Silva, whose environmental record in the Amazon is mixed. While he has curbed deforestation and championed the Amazonian city of Belem as the host of the U.N.'s COP30 climate summit in November, he also supports Petrobras's push to drill for offshore oil at the ecologically sensitive mouth of the Amazon River and other big projects that bring environmental impact to the world´s largest tropical forest. Exploratory offshore drilling near the Amazon, whose reserves are unknown, is expected to draw scrutiny during the COP30 summit. A central push of the annual climate talks has been to reduce the use of fossil fuels such as oil, gas and coal. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Time of India
09-05-2025
- Business
- Time of India
OTC 2025: India showcases offshore energy investment opportunities
India's offshore energy sector took center stage at the 55th annual Offshore Technology Conference (OTC) 2025, as the country highlighted the availability of rich geoscientific data and a regulatory framework designed to make India an attractive partner for international energy players . The OTC 2025 conference, which united over 30,000 professionals from 107 countries to explore the future of offshore energy, underscored India's strategic push to become a global leader in offshore exploration and production (E&P). Pallavi Jain Govil, Director General, DGH who led India's delegation and participated in the marquee 'Around the World Series' session, spotlighting the country's energy reforms and its growing role as an investment destination in the offshore sector. Govil highlighted the opening of new exploration blocks under OALP-X, the availability of rich geoscientific data, and a regulatory framework designed to make India an attractive partner for international energy players. The conference also featured Sridhar Krishnamoorthy of IIT Madras, who was honored as an OTC 2025 Emerging Leader, marking the first time an Indian academic received this global recognition for contributions to offshore engineering. DC Manjunath, Consul General of India in Houston, called for increased collaboration between US and Indian companies in the offshore sector, underlining India's stable policy environment and commitment to energy security . With ongoing regulatory reforms, access to vast natural resources, and a clear roadmap for investment, India is poised for a new era of offshore growth and global energy leadership. Vinod Sheshan, Joint Secretary (Exploration), Ministry of Petroleum and Natural Gas , discussed India's latest regulatory updates aimed at creating a more secure environment for foreign investment. Trailukya Borgohain, Director (Operations), Oil India Ltd , emphasized India's potential in deepwater and frontier basin exploration. Almost 1,300 companies showcased cutting-edge technologies at OTC 2025. The conference is expected to have contributed an estimated USD USD 3 billion to the local Houston economy.
National Post
06-05-2025
- Business
- National Post
SLB Introduces Digitally Enabled Electric Well Solutions That Maximize Production and Recovery
Article content Article content HOUSTON — Global energy technology company SLB (NYSE: SLB) today launched Electris™ — a portfolio of digitally enabled electric well completions technologies that boost production and recovery while reducing the total cost of ownership of an asset. Article content Electris completions digitalize control of the entire productive area of the wellbore, providing real-time production intelligence across the reservoir. This enables operators to predict, adapt and act with confidence in response to dynamic production conditions — improving reservoir management over the life of the well and accessing reserves that conventional systems leave behind. Article content 'Electris completions take reservoir management to the next level — making it possible for operators to get more out of their assets with fewer requirements for costly well interventions,' said Paul Sims, president, Production Systems. 'With much of the 'easy' oil already produced, operators are encountering more and more complex reservoirs. Electris completions can help shift the production economics in these reservoirs — resulting in higher recovery factors that maximize return on investment from the asset.' Article content There have been more than 100 installations of Electris completions technologies across five countries. In Norway, Electris completions were deployed offshore to enhance oil production in an extended-reach well. The operator is using intelligence from the system to determine which zones are contributing to production to optimize oil output and minimize produced water. Controlling water production with Electris completions has decreased the energy needed to lift and then pump treated water back into the reservoir. Article content Today's announcement was made at the Offshore Technology Conference, which is taking place this week in Houston, Texas. Article content This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as 'expect,' 'may,' 'can,' 'estimate,' 'intend,' 'anticipate,' 'will,' 'potential,' 'projected' and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB's new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB's strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise. Article content Article content Article content Article content Article content Contacts Article content Media Josh Byerly – SVP of Communications Moira Duff – Director of External Communications SLB Tel: +1 (713) 375-3407 media@ Article content Article content
Business Wire
06-05-2025
- Business
- Business Wire
SLB Introduces Digitally Enabled Electric Well Solutions That Maximize Production and Recovery
HOUSTON--(BUSINESS WIRE)--Global energy technology company SLB (NYSE: SLB) today launched Electris™ — a portfolio of digitally enabled electric well completions technologies that boost production and recovery while reducing the total cost of ownership of an asset. Electris completions digitalize control of the entire productive area of the wellbore, providing real-time production intelligence across the reservoir. This enables operators to predict, adapt and act with confidence in response to dynamic production conditions — improving reservoir management over the life of the well and accessing reserves that conventional systems leave behind. 'Electris completions take reservoir management to the next level — making it possible for operators to get more out of their assets with fewer requirements for costly well interventions,' said Paul Sims, president, Production Systems. 'With much of the 'easy' oil already produced, operators are encountering more and more complex reservoirs. Electris completions can help shift the production economics in these reservoirs — resulting in higher recovery factors that maximize return on investment from the asset.' There have been more than 100 installations of Electris completions technologies across five countries. In Norway, Electris completions were deployed offshore to enhance oil production in an extended-reach well. The operator is using intelligence from the system to determine which zones are contributing to production to optimize oil output and minimize produced water. Controlling water production with Electris completions has decreased the energy needed to lift and then pump treated water back into the reservoir. Today's announcement was made at the Offshore Technology Conference, which is taking place this week in Houston, Texas. For more information about SLB's Electris electric completions technologies, visit About SLB SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at Cautionary Statement Regarding Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as 'expect,' 'may,' 'can,' 'estimate,' 'intend,' 'anticipate,' 'will,' 'potential,' 'projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB's new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB's strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
