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Shell Offshore Inc., a subsidiary of Shell plc, today announced the Final Investment Decision (FID) for Sparta, a deep-water development in the U.S. Gulf of Mexico that represents our competitive approach to simplifying and replicating projects. Owned by Shell Offshore Inc. (51% operator) and Equinor Gulf of Mexico LLC (49%), Sparta is expected to reach a... Continue Reading →
Philip Lewis, Contibutor (OE) The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices. In particular, the amendments aim to move away from inflexible... Continue Reading →
(Reuters) Dutch lender ING will stop financing oil and gas exploration and production by 2040 and triple new lending to renewable energy over the next two years as part of an updated climate strategy, the bank's chief executive told Reuters. Investors and regulators are increasingly pushing banks to green their operations and many are looking to tighten... Continue Reading →
SBM Offshore is pleased to announce that it has secured a US$210 million Revolving Credit Facility (RCF) for the financing of the construction of Fast4Ward® Multi-Purpose Floater (MPF) hulls. The tenor of the RCF is eighteen months with an extension option for another six months. Repayment is expected to take place upon sale of the... Continue Reading →
(Reuters) - Mexican state energy company Pemex's mounting debt with oil service providers as well as private crude and gas producers threatens production, investment and in some cases even the survival of suppliers, industry groups warned. In addition to financial debt of more than $105 billion, the company disclosed that at the end of September... Continue Reading →
(OW) OEG Energy Group (OEG) has signed a Sale and Purchase Agreement (SPA) to acquire Dutch subsea and topside services specialist Bluestream Offshore. The acquisition is expected to increase OEG’s subsea and topside capabilities while expanding its operating footprint to be able to pursue further opportunities in the growing offshore renewable industry. Bluestream has a... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the Material Fact of 08/03/2023, informs that it will pay today the first installment of the remuneration to shareholders for the second quarter of 2023. The gross amount to be distributed today is R$ 0.574652 per common and preferred share in the form of dividends. CREDIT INSTRUCTIONS... Continue Reading →
(OET) Uruguay’s state-owned energy company ANCAP has tucked a new milestone under its belt with the signing of contracts for four offshore blocks with three oil and gas players in line with the framework of the Open Uruguay Round that has been in force since 2019. As a result, the UK-headquartered Shell, the U.S.-based APA Corporation, and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras reports that it has acquired 29 blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Petrobras acquired blocks P-M-1739, P-M-1737 and P-M-1797 in partnership with CNOOC Petroleum Brasil Ltda (CNOOC) and Shell Brasil Petróleo Ltda (Shell).... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, in a meeting held on 12/11/2023, approved a judicial settlement regarding the collection of differences in monetary correction and interest on Eletrobras' Compulsory Loan. Conditional on judicial approval, the agreement provides for the payment to Petrobras of R$1.2 billion within 5 working days of... Continue Reading →
Brazil Energy Insight 