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(OE) Asset manager Apollo has agreed to acquire a majority stake in offshore energy solutions business OEG Energy Group as part of the transaction worth over $1 billion. Apollo, through its funds managed by its affiliates, will take the majority share from from funds managed by the Power Opportunities strategy of Oaktree Capital Management and... Continue Reading →
The Chouest Group said it has acquired Kystdesign, a manufacturer of remotely operated vehicle (ROV) systems. "We are thrilled to welcome Kystdesign and its talented team into the Chouest family," said Dino Chouest. "By joining forces, we will continue delivering cutting-edge ROV systems and advancing the evolution of next-generation underwater robotics.” This acquisition strengthens Chouest’s... Continue Reading →
(Reuters) - Vitol will buy stakes in West African oil and gas assets from Italy's Eni, bolstering the global commodity trading house's position in the upstream sector, as it seeks to reinvest the huge profits it has been generating since 2022. The commodity trader will acquire an interest in oil and gas producing assets and... Continue Reading →
(Reuters) - Chevron purchased about 4.99% of Hess Corp's common shares this year, the oil giant said in a regulatory filing on Monday. Chevron said the stock purchase reflects its continuing confidence in completing the pending acquisition of Hess. In October 2023, Chevron agreed to acquire Hess in an all-stock deal valued at $53 billion, gaining a stake in... Continue Reading →
(Reuters) - Mexican state energy company Pemex is in talks with Carlos Slim which could see the billionaire tycoon help bankroll two of the country's most promising crude oil and natural gas fields, sources familiar with the matter told Reuters. The negotiations, which have not been previously reported, indicate Slim's growing clout in Mexico's struggling... Continue Reading →
(Reuters) Petrobras is looking at potential opportunities in Argentina while advancing in projects in Colombia and Africa, the firm's exploration and production head Sylvia dos Anjos said on Tuesday. Gas from the Vaca Muerta region would be interesting to Petrobras as a pipeline connecting Argentina, Bolivia and Brazil could be used to transport it, Anjos said on the... Continue Reading →
(Reuters) - Colombia's majority state-owned oil producer Ecopetrol is planning to raise up to $2 billion in additional debt this year to fund investments, and would consider seeking funds from banks and capital markets, a top official said on Wednesday. The debt would be used to fund inorganic investments, such as the acquisition of new assets... Continue Reading →
Australian oil company Karoon announced that it has signed a Sale and Purchase Agreement (SPA) with Altera & Ocyan to acquire 100% of FPSO Cidade de Itajaí for $115 million, plus approximately $8 million in transaction costs. The unit operates in the Baúna field, which is fully operated by Karoon. The agreement is subject to... Continue Reading →
(offshoreWIND.biz) Danish Copenhagen Infrastructure Partners (CIP), on behalf of its fund Copenhagen Infrastructure V (CI V), has signed a transaction to take full ownership of the Morecambe offshore wind farm from Cobra Group and Flotation Energy, owned by TEPCO Renewable Power. The financial terms of the transaction are not disclosed. Flotation Energy will remain involved... Continue Reading →
(Reuters) - Chevron said on Monday it would reorganize some of its business structures and reshuffle the leadership team, the latest move by the U.S. energy major to simplify its operations. The company has said it would lay off up to 20% of its global workforce by the end of 2026, as it navigates cost overruns and a... Continue Reading →
Brazil Energy Insight 