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(Bloomberg) — Some oil and gas dealmakers are hitting the pause button as prices whipsaw following the ban on Russian oil imports. Companies are concerned about overpaying for assets while focused on cutting debt and rewarding shareholders. For example, the owners of Sequitur Energy Resources are holding onto 83,000 net acres in part of the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 08/25/2021, concerning the sale process of Refinaria Isaac Sabbá (REMAN) to Ream Participações S.A., informs that the General Superintendence of the Administrative Council for Economic Defense (CADE) published on 03/08/2022 a dispatch declaring the Act of Concentration to be complex and ordering the... Continue Reading →
(Reuters) - Shell (SHEL.L) faces further writedowns from exiting Russia over the country's invasion of Ukraine, it said on Thursday, flagging that it had $0.4 billion in Russian downstream assets as well as the $3 billion in other projects announced previously. The oil major announced on Feb. 28 that it would quit its ventures in Russia with... Continue Reading →
(Reuters) - Within hours of Moscow launching its invasion of Ukraine, BP’s chief executive summoned his senior team to discuss the limited options for its Russian operations, including separating the British energy giant’s stake in Russian oil firm Rosneft or exiting completely, according to three senior BP executives. Bernard Looney made it clear at the... Continue Reading →
(OE) U.S.-based offshore support vessel owner Tidewater said Wednesday it had agreed to acquire Swire Pacific Offshore Holdings Limited (“SPO”), a subsidiary of Swire Pacific Limited for around $190 million. Tidewater said the transaction would create the industry’s largest fleet of offshore support vessels with 203 vessels in total, including crew boats, tug boats, and... Continue Reading →
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 →
