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(Reuters) - Brazilian oil company Petroreconcavo SA expects to invest more than 1 billion reais ($193.91 million) in 2023 as it develops assets in Northeastern Brazil, and has not ruled out fresh acquisitions, its chief executive said. Petroreconcavo, which started operating in 2000, has grown significantly in recent years after buying onshore assets from state-run... Continue Reading →
(Reuters) - Brazil's small- and medium-sized oil firms are set to invest some 40 billion reais ($7.74 billion) in onshore fields by 2029, according to a survey by the country's independent oil and gas producers association Abpip. The group, which includes companies such as Eneva (ENEV3.SA) and PetroReconcavo (RECV3.SA), aims to extend the lifespan of and increase production... Continue Reading →
(OET) Offshore drilling contractor Seadrill has entered into an agreement to acquire Aquadrill, formerly known as Seadrill Partners, in an all-stock transaction that values the UK firm at $958 million. Following completion, Seadrill shareholders and Aquadrill unitholders will respectively own 62 per cent and 38 per cent of the outstanding common shares in the company and Aquadrill will... Continue Reading →
3R PETROLEUM ÓLEO E GÁS SA ("3R" or "Company") informs its investors and the market in general that, on December 22, 2022, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) approved the transfer of 62.5% stake in the concession rights over the Papa Terra production field (“Papa Terra Cluster” ), held by Petróleo... Continue Reading →
(Bloomberg) -- Petrobras’s new management should carry out a two-month review of the oil giant’s business plan to bring it more into line with Brazilian President-elect Luiz Inacio Lula da Silva’s wider policy goals, according recommendations from Lula’s transition team. The energy experts who worked on Lula’s transition concluded that Petrobras’s existing $78 billion five-year... Continue Reading →
(Reuters) - The green hydrogen express is gathering pace, but it may have a worrying problem with leaks. As governments and energy companies line up big bets on the much-touted fuel of the future, some scientists say the lack of data on leaks and the potential harm they could cause is a blind spot for... Continue Reading →
On 20 December, Massachusetts Governor Charlie Baker and Lt. Governor Karyn Polito announced the award of $180 million in funding for projects supporting offshore wind development, with a part of this earmarked for Prysmian’s high-voltage cable factory in Somerset. The Massachusetts government will support the construction of Prysmian’s offshore wind cable manufacturing facility in Somerset... Continue Reading →
(OE) Malaysia's FPSO leasing company Yinson has secured a one-month contract extension for its Adoon FPSO in Nigeria. The contract was signed with client Addax, a Sinopec subsidiary, on December 16, 2022 and will run until January 2023. The value of the contract extension is estimated to be $3.4 million. The original contract for the FPSO Adoon... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 11/03/2022, informs that it has carried out today the payment of the 1st installment of the remuneration to shareholders approved by its Board of Directors in a meeting held on that date. The gross amount distributed today corresponds to dividends of R$ 1,67445... Continue Reading →
(Reuters) - Private U.S. oil and gas companies are increasingly turning to a niche financing structure that securitizes their production, providing a funding avenue for producers and owners as traditional sources become more expensive or simply dry up. Known as PDP asset-backed securitizations (ABS), this product takes revenue generated by companies' proved, developing and producing... Continue Reading →
Brazil Energy Insight 