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The General Superintendence of the Administrative Council for Economic Defense (CADE) approved the sale of control of Gaspetro, currently with Petrobras, to Compass (Cosan group). “In summary, it is understood that the post-operation scenario is better for the competitive environment than the pre-operation scenario, given that –even if it transfers Gaspetro to a single economic... Continue Reading →
Nigeria's Seplat Energy is on track to buy Exxon Mobil's offshore shallow water business in the country for $1.28 billion, Seplat's chairman told Reuters on the sidelines of the CERAweek energy conference by S&P Global. The comments come amid media reports that Nigerian National Petroleum Company Limited (NNPC) was looking to block the deal. "We... Continue Reading →
(Reuters) - France's TotalEnergies (TTEF.PA) cuts a lonely figure hanging onto its Russian investments during a mass exodus of western oil majors from the country after its invasion of Ukraine, even though no sanctions have forced such divestments. "For existing assets, the company says it will respect European sanctions whatever the consequences. But for the moment, there... Continue Reading →
(Reuters) - Exxon Mobil (XOM.N) on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow's invasion of Ukraine. The decision will see Exxon pull out of managing large oil and gas production facilities on Sakhalin Island in Russia's... Continue Reading →
(Reuters) - Shell (SHEL.L) will exit all its Russian operations, including a major liquefied natural gas plant, it said on Monday, becoming the latest major Western energy company to quit the oil-rich country following Moscow's invasion of Ukraine. The decision comes a day after rival BP abandoned its stake in Russian oil giant Rosneft (ROSN.MM) in a move that... Continue Reading →
Oil and gas company Kosmos expects to spend approximately $700 million in capital expenditures in 2022. The company will spend around $400 million of the budget in relation to its base business in Ghana, Equatorial Guinea, and Gulf of Mexico. Around $300 million is set to be spent in relation to its assets in Mauritania... Continue Reading →
(Reuters) - Exxon Mobil (XOM.N) likely will face new pressure to severe ties with Russia's largest oil producer, said analysts, after rival BP agreed to unload a Rosneft stake. Russia's attack on Ukraine has unleashed broad economic and political rebukes and corporate withdrawals by banks, technology and other firms unprecedented in their extent. BP on Sunday said... Continue Reading →
Norwegian energy group Equinor (EQNR.OL) said on Monday it will start the process of divesting from its joint ventures in Russia amid Moscow's invasion of Ukraine. Equinor is the second major European oil and gas producer, after energy major BP , to announce its exit from Russia as Western countries ramp up efforts to punish Russia with... Continue Reading →
(Reuters) - BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow's invasion of Ukraine. Rosneft accounts for around half of BP's oil and gas reserves... Continue Reading →
Solstad Offshore has reported a revenue of NOK 5.4 billion for the financial year 2021, an 8% increase compared to NOK 5 billion in 2020. Looking ahead, the Norwegian company revealed it fears that the current situation in Ukraine could impact its operations. The Norwegian company announced a full-year adjusted EBITDA increase of 20% to... Continue Reading →
Brazil Energy Insight 