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SBM Offshore confirms it has completed the transactions related to the Share Purchase Agreements announced on September 6, 2024 with its partner MISC Berhad for: i) the acquisition of MISC Berhad’s entire effective equity interest in the lease and operating entities related to the FPSO Espirito Santo in Brazil; and ii) the full divestment to MISC Berhad... Continue Reading →
(Reuters) Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data. The No. 1 U.S. oil producer reported total earnings of... Continue Reading →
(Reuters) - Oil and gas producer Hess Corp's fourth-quarter profit surpassed Wall Street expectations on Wednesday, buoyed by higher production volumes in the United States and Guyana. Its total production rose over 18% to 495,000 barrels of oil equivalent per day (boepd) in the quarter, boosted by a 7% increase in volumes in the Bakken shale... Continue Reading →
(Reuters) Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to "drill, baby, drill." Big Oil begins reporting fourth-quarter results this week, and outlooks for the coming year should reflect the dissonance between Trump's... Continue Reading →
(Reuters) - GeoPark will not go ahead with its planned $530 million acquisition of Spain-based Repsol's oil and gas production assets in Colombia, the company said on Tuesday. The acquisition, announced in November, included Repsol's oil extraction operation in central Colombia and a 25% stake in SierraCol Energia Arauca. The termination comes after Repsol's partner in SierraCol exercised its... Continue Reading →
(offshore-energy.biz) Oslo-listed energy, marine, and engineering consultancy ABL Group has enlarged its capabilities in the engineering and design segments of the maritime and offshore energy landscape by bringing Proper Marine, a Brazil-based naval architecture and engineering consultancy, into its fold, which enables the latter to merge with the Norwegian company’s design and engineering arm known... Continue Reading →
(offshoreWIND.biz) Macquarie Asset Management, through Macquarie European Infrastructure Fund 7, has completed the acquisition of Ziton, a provider of operations and maintenance (O&M) services to the offshore wind industry. “This is a significant milestone for ZITON, as Macquarie’s investment validates the strong company we have built. With our solid market position, excellent customer relationships, and... Continue Reading →
- PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of December. Key: (1) In the Polvo and Tubarão Martelo cluster, production was affected by the shutdown of wells TBMT-10H and TBMT-4H due to the failure of the Submerged Centrifugal... Continue Reading →
(OE) SBM Offshore has made initial equity investment in Ocean-Power, a Norwegian company developing an offshore power hub which generates electricity using gas turbines in association with carbon capture and storage (CCS). The investment follows the memorandum of understanding (MoU) the companies signed in June 2024. As a result of this investment, SBM Offshore holds... Continue Reading →
(OE) Australian oil and gas company Red Sky Energy has signed a risk service contract with the Angolan National Agency for Oil, Gas and Biofuels (ANPG), acquiring 35% interest in Sonangol-operated Block 6/24 in the Kwanza Basin, offshore Angola. Sonangol E&P is the operator of the Block with a 50% participating interest. Red Sky Energy... Continue Reading →
Brazil Energy Insight 