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Nov 11 (Reuters) - Brazilian engineering group Novonor is close to reaching an agreement to sell most of its controlling stake in petrochemical firm Braskem to IG4 Capital, four sources familiar with the matter told Reuters. Sao Paulo-listed Braskem shares soared more than 17% on Tuesday following a Bloomberg News report on the potential deal,... Continue Reading →
Oct. 3 - Seatrium has announced the sale of two platform supply vessels (PSVs) to Brazilian vessel operator Posidionia Shipping and Trading for $58.7m. The two vessels are held under a special entity called Guanabara Navegação and will be sold to Brazilian vessel operator. “This accretive divestment is in line with the Group’s strategic intent to... Continue Reading →
Nov 3 (Reuters) - Denmark's Orsted said on Monday it agreed to sell a 50% stake in Britain's Hornsea 3 offshore wind farm for 39 billion Danish crowns ($6.09 billion), widely regarded as a crucial move to prevent a crippling credit rating downgrade. Orsted, the world's largest offshore wind developer, seeks to restore investor confidence as... Continue Reading →
Oct 31 (Reuters) - Exxon Mobil beat Wall Street estimates for third-quarter earnings on Friday, underpinned by higher oil and gas production in Guyana and the Permian Basin, which offset lower oil prices. Adjusted earnings during the July-to-September quarter were $8.1 billion, or $1.88 per share, beating analysts' consensus estimate of $1.82 per share, according to... Continue Reading →
Oct 31 (Reuters) - Chevron beat analyst estimates on Friday as record oil and gas production, boosted by its $55 billion acquisition of Hess, and stronger refining margins lifted the No. 2 U.S. oil producer's results for the third quarter. Adjusted earnings for the three-month period ended September 30 were $3.6 billion or $1.85 per share,... Continue Reading →
Oct. 22 (OE) Ocean Winds, the 50-50 joint venture between Portugal’s EDP Renováveis and France’s Engie, has agreed to sell a 20.25% stake in its 500 MW Îles d’Yeu et Noirmoutier offshore wind project in France to Allianz Global Investors for $232 million. Located in Vendée on France’s Atlantic coast, the Îles d’Yeu et Noirmoutier... Continue Reading →
Oct 22 (Reuters) - GE Vernova's profit topped third-quarter expectations on Wednesday, driven by strong equipment orders and surging U.S. power demand from data centers supporting artificial intelligence workloads. Growing power demand from AI and other data-heavy industries is helping power equipment makers like GE Vernova tap long-term growth in U.S., strengthening its grid and turbine... Continue Reading →
Oct 17 (Reuters) - SLB beat Wall Street estimates for third-quarter profit on Friday, as steady demand in North America and contributions from its recent ChampionX acquisition helped offset weakening oilfield activity in other regions. The U.S. oilfield market appears to be stabilizing after months of reduced spending, but international demand, historically SLB's major profit driver,... Continue Reading →
Oct. 14 (moneytimes) PetroReconcavo announced to the market the completion of a farm-out with Mandacaru Energia on October 10th. A farm-out is a type of agreement in which one party transfers part of its stake in a concession to another, which assumes responsibility for exploration and/or development activities within that concession. The transaction involves the... Continue Reading →
Oct. 13 (OE) Oil and gas company Sintana Energy has agreed to acquire Challenger Energy, which holds interest in two blocks offshore Uruguay as well as other assets in broader region. The all-share transaction, valued at about $60 million, will create a combined exploration platform spanning eight licenses in Namibia and Uruguay, as well as... Continue Reading →
Brazil Energy Insight 