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Dec 9 (Reuters) - Russia's Lukoil has until December 13 to negotiate the sale of the bulk of its international assets after the U.S. imposed sanctions on the company and rejected its initial buyer, Swiss commodity trader Gunvor. Lukoil's international assets, spanning upstream oil and gas projects, refining, and more than 2,000 filling stations across Europe, Central Asia, the Middle... Continue Reading →
Dec 9 (Reuters) - TotalEnergies has cemented its position in offshore Namibia by agreeing to an asset swap with Portugal's Galp that makes the French company the operator of the major Mopane discovery, it said on Tuesday. In exchange for a 40% stake in the PEL83 licence holding the Mopane project, Galp will get a 10% interest... Continue Reading →
Dec. 9 (oilnow.gy) Ghana-based Cybele Energy Limited is set to sign a petroleum agreement on Tuesday, December 9, to explore for oil and gas offshore Guyana. This will be the second block awarded from the country’s first competitive offshore auction. The ceremony will take place at the Pegasus Suites and Corporate Center in Georgetown, where... Continue Reading →
Dec 4 (Reuters Breakingviews) - Shell’s status as Big Oil’s safest pair of hands has its limits. The $212 billion UK major's dividend is relatively more secure against oil price slumps than peers, its net debt is a low 21% of total capital, and operating costs are over 10% less than two years ago. Yet Shell... Continue Reading →
Nov. 20 (Oilprice.com) Renewable energy has encountered a strange crossroads – it is more successful, and also more divisive, than ever before. Wind and solar have become so successful that they’re not really alternative anymore – they’ve fully entered the mainstream. Not only have renewables outgrown subsidies and become independently successful, they’ve become so cheap... Continue Reading →
Nov 19 (Reuters) Oil majors TotalEnergies and Chevron are front-runners in the auction for a 40% operating stake in Galp's Mopane field in Namibia, four sources told Reuters. Mopane has estimated resources of at least 10 billion barrels, and Galp has said it would announce a winner by year-end. International oil companies have flocked to Namibia, which has no hydrocarbon... Continue Reading →
Nov 19 (OE) BW Energy has completed drilling operations on the Kharas-1 appraisal well in the Kudu license area, offshore Namibia, confirming the presence of hydrocarbons. The well, drilled with Odfjell Drilling-managed Deepsea Mira rig, reached a total depth of 5,100 m and intersected multiple reservoir intervals. The well will now be plugged, and abandoned... Continue Reading →
Nov. 14 (Reuters) U.S. private equity firm Carlyle is exploring options to buy Russian oil major Lukoil's LKOH.MM foreign assets, three sources familiar with the situation said. The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine, and has blocked Lukoil's attempt to sell... Continue Reading →
Nov. 7 - The countries with the most FPSOs in the world concentrate large-scale offshore production; the pre-salt layer drives demand for offshore logistics and strengthens maritime operations in the sector. The global map of countries with the most FPSOs in the world reveals a reshaping of power in offshore production. Brazil leads with 46... Continue Reading →
Nov. 4 (offshore-energy.biz) Foreseeing no financing woes to hinder its progress, Malaysia’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson, is eyeing refinancing opportunities for two floating production, storage, and offloading (FPSO) units with new project bonds on the cards next year. With a lease-and-operate model as the crown jewel of its... Continue Reading →
Brazil Energy Insight 