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Oil and gas company Tullow Oil has completed the pre-emption related to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy, increasing its interest in the fields. The cash consideration paid on completion was $118 million reflecting closing adjustments and was funded from cash on the balance... Continue Reading →
(PetroleoHJoje) The Maersk Developer rig, chartered to execute Karoon's intervention campaign in Baúna, in the Santos Basin, is already on its way to Brazil. The Maersk unit, which left Trinidad & Tobago last week, is expected to arrive in the country in the second half of April. The semi-submersible Maersk Developer will start campaigning in... Continue Reading →
Claxton, a brand within Acteon’s drilling and decommissioning segment, has agreed to acquire decommissioning personnel and assets from Oceaneering. From the anticipated closure date of March 30, 2022, certain Oceaneering staff based in Norway will transfer to Claxton, along with decommissioning assets including well and pile abrasive cutting and recovery systems and associated tooling. Conductor... Continue Reading →
(Reuters) - State-run Brazilian oil company Petrobras said on Tuesday the sale process for the control of a natural gas pipeline that connects Bolivia and southern Brazil is in a binding phase. EIG Global Energy Partners presented a binding proposal, which must be considered by Petrobras' management, and in case of approval will start the... Continue Reading →
Australian oil and gas company FAR Limited said Monday it would withdraw from its offshore blocks in Guinea Bissau after failed farm-out attempts. Separately, FAR said that STAM's takeover offer for FAR had closed, without the offer conditions being satisfied. FAR had urged shareholders to reject the offer. As for the Guinea Bissau news, FAR... Continue Reading →
(Reuters) - State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to U.S. private equity firm EIG Energy Partners control of a natural gas pipeline that connects Bolivia and southern Brazil, three people with knowledge of the matter told Reuters. Petroleo Brasileiro SA, as the company is formally known, is expected... Continue Reading →
(Reuters) - A Nigerian court has stopped Shell Plc (SHEL.L) from selling any assets in Nigeria until a decision is reached on the company's appeal of a nearly $2 billion penalty for an alleged oil spill. A copy of the court ruling, which was seen by Reuters on Monday, was issued on March 11 and also ordered... Continue Reading →
(OE) Oil and gas company Eco Atlantic has agreed to acquire 100% of Toronto-based JHI Associates Inc. ("JHI"), including JHI's 17.5% stake in the Canje Block offshore Guyana. The Canje Block, offshore Guyana, is directly adjacent to the prolific Stabroek Block where ExxonMobil has discovered more than 10 billion barrels of oil. ExxonMobil operates the Canje Block... Continue Reading →
(Reuters) Eni and BP are near a deal to raise around $2.5 billion in financing to merge their oil and gas operations in Angola and close to a separate agreement for Eni to buy stakes in Algerian gas plants, three sources told Reuters. The two companies last year announced plans to combine their Angolan businesses into a... Continue Reading →
(Reuters) - Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic. Preferred shares in the firm plummeted 22% in a day. Analysts quickly downgraded a slew of Brazilian assets from state banks to sovereign debt. Many investors... Continue Reading →
