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Brazilian oil and gas company PetroRio is gearing up to start its revitalisation campaign offshore Brazil with Ocyan’s rig after its drilling programme for the Frade field received a green light from the country’s oil and gas regulator. Located in the Northern Campos Basin off the coast of Brazil, the Frade field is a subsea... Continue Reading →
Offshore drilling firm Sonadrill, a 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a ten-well contract with options for up to eight additional wells in Angola for the West Gemini drillship. The total contract value for the firm part of the contract is expected to be approximately $161 million, including mobilization... Continue Reading →
(Reuters) - Italy's Enel SpA (ENEI.MI) is in talks to sell its Brazilian power distributor company Celg-D in a deal that may reach $2 billion, three sources with knowledge of the matter said. Among companies interested in acquiring Celg-D, which distributes power in the Brazilian center-west state of Goias and serves 3.27 million customers, are Brazilian rivals... Continue Reading →
(Reuters) - Guyana sold its first share of crude oil from the country's newest offshore production facility to Exxon Mobil (XOM.N) for about $106 million, the government said. One of South America's poorest nations, Guyana plans to use proceeds from oil in the short term to build roads, bridges, houses, gas-fired power plants and solar energy projects.... Continue Reading →
(Reuters) - Ecuador's state-owned oil company Petroecuador has started meetings to renegotiate long-term sales oil contracts with PetroChina, a process it hopes to conclude in June with the signing of a new deal, it said on Friday. The negotiations with China's largest oil and gas producer form part of bid by Ecuador's President Guillermo Lasso... Continue Reading →
(Reuters) - Mexico's cash-strapped state oil firm Petroleos Mexicanos (Pemex) is under pressure to resume financial debt repayments despite promises from President Andres Manuel Lopez Obrador that his government would pay them until 2024. On Thursday, Pemex (PEMX.UL) is due to pay some 1 billion euros to redeem a 2015 bond, two sources with knowledge... Continue Reading →
(Reuters) - Some U.S. oilfield firms whose Venezuelan operations were frozen by sanctions are joining an appeal to Washington for authorizations to restart oil drilling in the South American country, according to eight sources with knowledge of the talks. If they are allowed to resume work, Venezuela could quickly ramp up production capacity beyond 1... Continue Reading →
(Reuters) - Brazil's economy has entered a phase of stagnation that will persist next year as unrelenting inflation curtails consumer spending and policymakers struggle to find answers, a Reuters poll showed. Risks are tilted to the downside, with a potential relapse into contraction in the cards due to worries about a prolonged Russian offensive in... Continue Reading →
(Reuters) - A judge in the Colombian city of Barrancabermeja on Thursday suspended an environmental license granted to a hydraulic fracturing - or fracking - pilot project, on the grounds that local communities were not properly consulted. Colombia's majority state-owned oil company Ecopetrol (ECO.CN) and partner U.S. oil major Exxon Mobil Corp (XOM.N) were given the green light to... Continue Reading →
Vestas has signed a memorandum of understanding (MoU) with the government of the Brazilian state of Rio Grande do Norte to support the development of wind projects off the state’s coast. The objective of the MoU, signed in March, is to share technical knowledge so that governmental institutions can improve their studies of feasibility of... Continue Reading →
Brazil Energy Insight 