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The net profit of the oil company Enauta in 2021 reached the level of R$ 1.4 billion, a record in the company's history. According to the company, the result was driven by the price of Brent oil, the appreciation of low sulfur oil and the recognition of the entire Atlanta field. Another important factor was... Continue Reading →
(Reuters) - A $40 a barrel rise and fall in oil prices in March pushed many investors to exit the volatile trade and created the conditions for more wild price swings in the weeks ahead, traders, bankers and analysts said. The Russian invasion of Ukraine has driven many commodity prices to all-time highs, stretching the... Continue Reading →
(Reuters) - State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to U.S. private equity firm EIG Energy Partners control of a natural gas pipeline that connects Bolivia and southern Brazil, three people with knowledge of the matter told Reuters. Petroleo Brasileiro SA, as the company is formally known, is expected... Continue Reading →
(OE) Norwegian offshore support vessel owner Siem Offshore said Monday a Brazilian court had ruled in favor of Petrobras in a case related to a late vessel delivery in 2015. "Siem Offshore do Brasil has been notified of the final unfavorable decision of a Brazilian court in a lawsuit filed against Petrobras. The case is... Continue Reading →
(Reuters) Eni and BP are near a deal to raise around $2.5 billion in financing to merge their oil and gas operations in Angola and close to a separate agreement for Eni to buy stakes in Algerian gas plants, three sources told Reuters. The two companies last year announced plans to combine their Angolan businesses into a... Continue Reading →
(Reuters) - Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic. Preferred shares in the firm plummeted 22% in a day. Analysts quickly downgraded a slew of Brazilian assets from state banks to sovereign debt. Many investors... Continue Reading →
(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 →
Guyana-focused oil companies Frontera Energy Corporation and CGX Energy, joint venture partners in the Corentyne block offshore Guyana, said Friday they'd entered into a $35 million loan deal that will enable CGX to continue to finance part of its share of costs related to the Corentyne Block, the Berbice Deepwater Port, and other budgeted costs... 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 →
(Offshore Energy) The Curaçao-based international holding company, HAL Holding, has announced an intended all-cash voluntary public offer of €32.50 per ordinary share for all issued ordinary shares in the capital of Royal Boskalis Westminster N.V. HAL has been a shareholder of Boskalis since 1989 and currently holds 46.2 per cent of the issued Boskalis shares.... Continue Reading →
