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(Reuters) South Korea's Hanwha Group has signed an agreement to take over Daewoo Shipbuilding & Marine Engineering, Daewoo Shipbuilding said in a regulatory filing on Friday. The deal comes after the two parties signed a tentative agreement in September in which affiliates of Hanwha Group, including Hanwha Aerospace Co Ltd., said they would invest 2... Continue Reading →
(Reuters) - Brazil's state oil producer Petroleo Brasileiro SA needs to invest more in natural gas and set a path to return to its former role as an integrated energy provider, one of the top prospects to be Petrobras CEO told Reuters in an interview. Magda Chambriard, a former Brazil oil regulator, also said she does not... Continue Reading →
Dutch thermoplastic composite pipe (TCP) producer Strohm has completed the largest funding round in the company’s 15-year history by securing a €15 million investment to support its TCP solutions. The €15 million investment includes a €10 million commitment made by ING Corporate Investments (a 100% subsidiary of ING Bank), the Netherlands’ largest financial institution, as... Continue Reading →
Brazilian state-run oil company Petroleo Brasileiro SA is struggling to get a license that it needs to drill the ultra-deep waters of the Foz do Rio Amazonas Basin this year as planned, a source close to the matter told Reuters on Thursday. Petrobras has been spending millions of dollars a day to mobilize personnel and... Continue Reading →
(TN) Brazilian oilfield services player Ocyan has secured a trio of contracts with Petrobras. The drilling services company participated in the oil company's bid to charter deepwater drilling units. Of the 12 units in dispute, in the three proposed lots, Ocyan won in lot 2 with two assets (ODNI I and ODN II) and in... Continue Reading →
(Reuters) - Argentina has secured financing of $689 million from Brazilian state development bank BNDES for the second stage of a crucial natural gas pipeline in the huge Vaca Muerta shale region, energy secretary Flavia Royon said on Monday. The pipeline, which will hugely increase the country's gas transport capacity, will help Argentina "to achieve... Continue Reading →
(Reuters) HSBC will no longer provide new lending or capital markets finance for new oil and gas fields, the British bank said on Wednesday, as part of a wider update to its energy policy. The bank said it will continue funding natural gas projects for now, given the global energy crisis and the pressures placed... Continue Reading →
(OET) UK-headquartered and AIM-listed company Afentra plc has made progress on completing deals with Angola’s state-owned oil and gas company Sonangol and Croatia’s INA-Industrija Nafte, which will allow it to acquire interests in blocks offshore Angola. Back in April 2022, Afentra announced that its wholly-owned subsidiary, Afentra (Angola), had signed a Sale and Purchase Agreement (SPA) with Sonangol to acquire a 20... Continue Reading →
Partners in the Corentyne block offshore Guyana – Canada’s CGX Energy and Frontera Energy – have completed the previously announced agreement for the block, enabling them to secure funding for their exploration well, which is slated to be spud once the Noble-owned rig, hired for this assignment, arrives at the location. Earlier this year, CGX... Continue Reading →
(OET) U.S. oilfield services player Weatherford International has been assigned an upgrade in credit rating from B- to B with a stable outlook by S&P Global Ratings (S&P). Weatherford disclosed on Wednesday that S&P based the rating upgrade in part on the improvements in financial performance and liquidity. This was driven by “stronger operational performance,” according to the U.S. player.... Continue Reading →
Brazil Energy Insight 