SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become... Continue Reading →
Brazil’s Workers Party launches bid to return Lula to presidency
(Reuters) - Former President Luiz Inacio Lula da Silva was officially nominated by his Workers Party (PT) on Thursday to run on Oct. 2 against far-right incumbent President Jair Bolsonaro in Brazil's most polarized election in decades. With a double-digit lead in opinion polls, a Lula victory would represent an astounding comeback by the former... Continue Reading →
Big Oil set to open cash taps with another record quarter
(Reuters) - Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be a second-straight quarter of record-breaking profits, lifted by stellar refining margins and high oil and gas prices. A rapid recovery in demand following the end of pandemic lockdowns and a surge in energy... Continue Reading →
Ciro Gomes kicks off Brazil’s presidential race with first official candidacy
(Reuters) - Ciro Gomes, a left-of-center former governor, kicked off Brazil's presidential election season on Wednesday, becoming the first candidate to officially announce his candidacy for the Oct. 2 vote. Gomes, 64, presented himself as an alternative to the polarized choice of far-right incumbent President Jair Bolsonaro or Workers Party leader and former two-term president... Continue Reading →
Lula advisers draft plans for more aggressive Brazil FX policy
(Reuters) - Economic advisers to Brazil's leading presidential candidate are drafting plans for a more aggressive foreign exchange policy, including more market interventions and tighter regulation of derivatives to curb volatility, senior aides told Reuters. Economist Pedro Rossi, who leads the team drafting currency policy for leftist former president and 2022 front-runner Luiz Inacio Lula... Continue Reading →
New updates on Petrobras’ exploratory program off the coast of Espírito Santo.
The company restarted the drilling of the wildcat well ES-M-596, in a water depth of 2,117 meters. As we reported, the original well (1-BRSA-1385-ESS) began to be drilled at the end of June. The drilling of the repeated well, named 1-BRSA-1385A-ESS, began yesterday (19). As the market knows, when the original well is lost, operators... Continue Reading →
Biden moves to expand offshore wind to Gulf of Mexico
(Reuters) - The Biden administration on Wednesday said it had identified 700,000 acres for possible offshore wind energy development in the Gulf of Mexico, seeking to expand a growing clean energy industry to a major U.S. oil and gas hub. It also said President Joe Biden would direct his Interior Department to move ahead with... Continue Reading →
EXCLUSIVE Shell places U.S. Gulf of Mexico assets up for sale -sources
(Reuters) - Shell (SHEL.L) is exploring a sale of its stakes in two U.S. Gulf of Mexico oil and gas developments which could raise as much as $1.5 billion for the energy major, people familiar with the matter said on Wednesday. Potential divestments of some aging assets would allow the company to focus on newer and larger... Continue Reading →
Ferreira to quit as Vibra CEO, move to Eletrobras suggested
(Reuters) - Brazilian fuel retailer Vibra Energia SA (VBBR3.SA) said on Wednesday that CEO Wilson Ferreira Junior has informed the board of directors he wants to quit the company, amid expectations he might be heading back to power giant Eletrobras (ELET6.SA). Vibra said in a securities filing that Ferreira's resignation comes as he wants to "pursue new professional... Continue Reading →
Argentine peso slips in parallel black market to all-time low
(Reuters) - Argentina's peso surpassed the psychological barrier of 300 pesos per U.S. dollar in the black market on Tuesday, hitting a record low as it traded down 3% from the previous day as both businesses and individuals hold on to scarce greenbacks. The peso's latest downward slide comes amid growing doubts over the near-term... Continue Reading →
Brazil Energy Insight 