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(Reuters) - Royal Dutch Shell (RDSa.L) plans to reduce its refining and chemicals portfolio by more than half, it said in July 2020 without giving a precise timeframe. The move is part of the Anglo-Dutch company's plan to shrink its oil and gas business and expand its renewables and power division to reduce greenhouse gas emissions sharply... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on June 30, 2021, informs that it signed today with the company Petromais Global Exploração e Produção S.A. (Petro+) the agreement for the sale of the totality of its stake in a set of seven onshore and shallow water concessions denominated Alagoas Cluster, located... Continue Reading →
Russian oil company Lukoil has agreed to acquire a 50% operator stake in the Area 4 project offshore Mexico. The transaction value is $435 million-plus expenditures incurred in 2021 as of the transaction completion date. The completion of the transaction is subject to certain conditions, including approval by the Mexican authorities. The project includes two... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser) for the sale of its total stakes in the exploratory blocks belonging to the PAR-T-175_R14, PAR-T-198_R12, and PAR-T-218_R12 Concessions, located onshore in the Paraná Basin. The teaser, which includes key information about the opportunity, as well as the eligibility criteria... Continue Reading →
(Reuters) - Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in more than four years. Large oil companies are unloading properties from Texas to California, with some using the market rally as a chance... Continue Reading →
Reuters) Norway's BW Energy and Brazil's DBO Energy have sent bids for Petrobras' offshore oil cluster Golfinho PETR4; PETR3, two knowledgeable sources told Reuters. The oil company has sold dozens of assets in recent years – from oil pipelines to refineries – in order to reduce its debt and focus on oil production in deep... Continue Reading →
(Bloomberg) -- Brazil’s Petroleo Brasileiro SA is said to have raised about $2.3 billion in the biggest share sale in Latin America so far this year. Petrobras, as the company is known, shed its remaining stake in fuel distributor Petrobras Distribuidora SA in an offer that priced at 26 reais ($5.23) a piece, people familiar... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on October 15, 2020, informs that the Company's Board of Directors, in a meeting held today, approved the sale of its total interest in a set of seven onshore and shallow water concessions called Alagoas Cluster, located in the state of Alagoas, to the... Continue Reading →
(Reuters) Angola has accumulated around $1 billion in debt to western oil companies operating its oilfields, with the bill prompting the African country’s recently launched sale of stakes in its flagship offshore blocs, three industry sources told Reuters. The magnitude of the debt, built up over several years, is a sign of deepening financial woes... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on June 2, 2021, related to the sale of its 27.88% interest in Deten Química S.A. (Deten), informs that it postponed to July 8, 2021 the deadline to execute the Confidentiality Agreement and the Compliance Certificate and grant access to the Confidential Information Memorandum... Continue Reading →
